NEW YORK, Aug. 13, 2019 /PRNewswire/ -- WINT Water Intelligence, a leader in cutting-edge water management solutions for commercial and industrial applications, has together with U.K. distributor Aqualytics been named a finalist in Insurance Times' Tech & Innovation Awards 2019. Winners will be announced on Sept. 26 at the Royal Garden Hotel in London.
WINT has been nominated for the category "Best Use of AI – Claims". WINT's technology helps construction projects and newly built facilities secure insurance and avoid water damage-related claims by identifying anomalies, leaks and waste at the source, alerting facilities managers and shutting off water supplies when necessary.
"Water waste and water damage have an enormous financial impact on facilities and construction projects every year," said Alon Geva, CEO of WINT. "Our solutions reduce the risk of major property damage from burst pipes and undetected leaks, which can result in restoration and repair costs, lost time, higher insurance premiums and possible litigation."
Water damage claims for construction projects and operational facilities in recent years have been both increasing in frequency and scope, with single claims often reaching tens of millions of dollars. The excessive water damage claims have even led many insurers to exit the commercial construction space completely.
"The insurance industry has been suffering a massive financial impact from the rise in water damage claims by facilities and new construction around the world," Geva said. "We're proud to be counted by Insurance Times among those helping the industry work toward eliminating this tremendous source of risk with innovation and technology."
Aqualytics distributes WINT solutions in the U.K. and provides on-the-ground service to customers using WINT technology. Earlier this year, WINT announced their availability in the U.S. market and has already been helping companies and organizations avoid costly water damage in both operational facilities and construction projects and reduce their ongoing consumption by 25%, according to client reports.
For more information about the Insurance Times Tech & Innovation Awards 2019, please visit http://awards.insurancetimes.co.uk/tech-awards19/.
About WINT Water Intelligence
WINT is passionate about helping the world conserve one of its most precious resources, and the company is dedicated to helping businesses prevent the hazards, costs and waste associated with water leaks. Utilizing the power of artificial intelligence, the convenience of high-speed cellular data connections and smart shut-off valves, Water Intelligence units provide an all-in-one solution for commercial facilities management teams looking to eliminate the fear of plumbing disasters and wasteful water loss. For more information, please visit www.wint.ai, email [email protected] or call 833-333-9468.
SOURCE WINT Water Intelligence