Qorus Innovation in Insurance Awards 2024- Nominated

WINT Water Intelligence Builders’ Risk Performance Warranty (Backed by HSB)

18/04/2024 Insurance Innovation


A unique warranty program mitigates steeply rising water damage claims in construction and commercial properties. The $250,000 builders’ risk performance warranty leverages WINT’s AI technology and HSB’s extensive data-based insurance solutions.

Innovation presentation

Water leaks are a major point of pain across the real estate and construction industries. As insurers face rising payouts for water damage claims, deductibles have climbed sharply, with a significant impact on profitability for contractors and developers. The builders’ risk performance warranty program combines best in class technology and extensive insurance expertise and provides financial relief of up to $250,000 in the unlikely event of water damage on a WINT-protected site. The innovative warranty program backed by HSB (a leading global specialty insurer) is available for contractors, owners and developers to protect sites and projects from water damage, significantly reducing exposure to the risk of water damage and the high deductibles associated with it.

Uniqueness of the project

Effective, sustainable water management and leak mitigation are increasingly important as the risk and cost of water damage rise. WINT’s industry-leading artificial intelligence-based water management solution delivers a best-in-class holistic solution for water leak damage. A recent study found that locations protected by WINT dramatically reduce the number and impact of water damage incidents. Sites where WINT was installed submit 73% fewer insurance claims, resulting in a 90% reduction in payouts, than sites not protected by WINT.

Want to keep reading?

Become a Qorus member to get access to all our innovations

Interested in learning more? Speak to Boris, Qorus's Content Lead

Qorus has a library of almost 8,000 innovation case studies across critical areas like customer experience, sustainability, marketing & distribution and more that can be used to inform your decision-making.
Contact us

Related innovations

23/05/2024 Banking Innovation

ESG Platform – Self-assessment and Dashboard

Helping companies shifting to sustainable business models is now a top priority for all financial institutions. That's why Intesa Sanpaolo...

23/05/2024 Banking Innovation

Intesa Sanpaolo AI-powered Pricing

Artificial intelligence at the core of the Pricing process, to revolutionize the way pricing is defined and managed in the...

23/05/2024 Banking Innovation

Finanza Insieme

Finanza Insieme: Impara, Capisci....Agisci

23/05/2024 Banking Innovation

Digital sourcing and faster approval for Working Capital Requirement (SME & MSME Segment)

Our advanced tech product reduces loan disbursement TAT from 25 days to 10 days with 1 hour in-principal approval. Built...

Related news & insights

Embedded Insurance
23/05/2024 Article

Partnerships provide insurers with the key to unlock cybersecurity opportunities

The rising threat of cybercrime is challenging insurers to build innovative solutions that will protect their customers and generate new...

Digital Reinvention
23/05/2024 News

UK fintech Jaja pioneers AI chat assistant for lending

Jaja Finance has launched 'Airi,' an advanced AI chat assistant to enhance customer support and lending services. Using the Claude...

Digital Reinvention
21/05/2024 Article

Innovation Masters: How top insurers retain customers

In this article, we'll explore recent successful innovative programs for retaining customers by Discovery, Mapfre, Triple-S Vida, AXA, and Nib....

Digital Reinvention
20/05/2024 News

TD Bank launches Gen AI pilots to enhance customer and employee experiences

These initiatives are part of TD's broader AI strategy, leveraging advanced AI capabilities to support both customers and employees.