Selective Insurance Now Offers the Phyn Smart Water and Leak Detection Solution to Eligible Homeowner Customers
14 February 2024 - 4:00AM
Business Wire
Selective Insurance, a leading business, home, and auto insurer,
today announced that it is working with Phyn, the leader in
intelligent water solutions, to offer Phyn Plus, its award-winning
smart water monitoring device to eligible homeowners policyholders.
Phyn's innovative technology monitors a property's plumbing system
to detect and mitigate leaks before they can cause extensive damage
to homes and possessions.
Water damage is one of the most common home hazards, and each
non-weather-related home claim generates an average of $13,000 in
repair costs, per Selective's analysis of its 2022 claims data.
Professionally installed on a home's main water line, Phyn Plus is
designed to protect and monitor a property's entire plumbing system
24/7 to automatically detect all types of leaks, from pinhole and
drip leaks to frozen pipe bursts. Phyn alerts homeowners in
real-time when a leak is detected, helping to reduce the risk of
costly water damage. If there is a catastrophic leak, Phyn can
remotely and automatically shut off the property's main water
supply. The Phyn mobile app also gives homeowners detailed insights
into water use to help them conserve water and save money.
"Phyn Plus is the newest risk reduction solution we're offering
our policyholders," said Allen Anderson, Senior Vice President of
Personal Lines, Selective Insurance. "This value-creating
technology helps reduce the risk of water-related property damage
and limits the likelihood of inconvenience, disruption, and
calamity to our eligible policyholders."
"We are thrilled to collaborate with Selective Insurance and for
the opportunity to relieve policyholders from the financial and
mental burdens often associated with water damage," added Ryan Kim,
CEO of Phyn. "Phyn Plus stands as a proven and trustworthy
solution, and we hope to empower homeowners with proactive measures
that not only safeguard their investments but also pave the way for
substantial long-term cost savings."
Phyn Plus is available to eligible Selective homeowners
policyholders in select states. To learn more, customers can
contact their Selective agent.
About Selective Insurance
Selective Insurance Group, Inc. (Nasdaq: SIGI) is a holding
company for 10 property and casualty insurance companies rated "A+"
(Superior) by AM Best. Through independent agents, the insurance
companies offer standard and specialty insurance for commercial and
personal risks and flood insurance through the National Flood
Insurance Program's Write Your Own Program. Selective's unique
position as both a leading insurance group and an employer of
choice is recognized in a wide variety of awards and honors,
including listing in Forbes Best Midsize Employers in 2023 and
certification as a Great Place to Work® in 2023 for the fourth
consecutive year. For more information about Selective, visit
www.Selective.com.
About Phyn
Phyn is the leading intelligent water brand, bringing solutions
to market that help people protect their homes, conserve water and
save money. Built upon nearly a decade of research and patented
technological innovation, Phyn is poised to change the way
consumers interact with water and help solve the major challenges
threatening the world's supply of clean, healthy water. Phyn has
been widely recognized for its innovation, including honors from
the Red Dot Awards, SXSW Innovation Awards, Core 77 Design Awards,
IoT World Awards, CES Innovation Awards and GreenBuilder's
Sustainability Awards, among others. To learn more, visit
www.phyn.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240213853699/en/
Selective: Katelyn Leondi (973) 948-9372
Katelyn.Leondi@Selective.com
Phyn: Zella Panossian (818) 634-1153 phyn@illumepr.com
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