Selective Insurance, a business, home and auto insurer, announced that it is working with Phyn, a provider of intelligent water solutions, to offer Phyn Plus, its award-winning smart water monitoring device, to eligible homeowners policyholders. Phyn’s 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.”
Phyn Plus is available to eligible Selective homeowners policyholders in select states.
“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.”
