Roost®Announces Partnership with Nodak Insurance Company
Smart Sensor Deployment Designed to Mitigate Water Leak Claims Costs
Sunnyvale, CA, – July 24, 2019— Roost, a leader in Home Telematics for property insurance carriers, today announced it has partnered with North Dakota-based Nodak Insurance Company. In a strategic agreement intended to mitigate water leak claims costs and build digital engagement, Nodak Insurance Company will offer free Roost Smart Water Leak and Freeze Detectors to select policyholders.
Such policyholders will be offered the award-winning Roost Smart Water Leak and Freeze Detector in order to help mitigate claims costs, especially those from frozen and burst pipes. They will also look to strengthen their engagement with policyholders through their Nodak branded mobile app, enhanced with Roost services such as severe weather alerts from IBM/The Weather Company and home service pro access from HomeAdvisor.
“We’re very excited to be working with Roost to deliver smart home innovation and build digital engagement with our policyholders” said Michael Alexander, President & CEO of Nodak Insurance Company. “Our mission has always been to provide competitive products and superior service. Our partnership with Roost helps accomplish that goal.”
The Roost Smart Water Leak and Freeze Detector is designed to sense water leaks as well as humidity and freezing temperature situations. Each detector can be easily located in places around the home most prone to water leaks such as under kitchen sinks, hot water heaters, toilets and various appliances. It then delivers smartphone alerts via the Roost app to help minimize water damage and loss.
“We are happy to be working with Nodak Insurance Company to deliver smart sensors to their policyholders in North Dakota” said Roel Peeters, Roost CEO and Co-Founder. “We are looking forward to seeing the Roost solution help mitigate Nodak’s water leak claim costs and also to see them drive growth through digital engagement.”
Roost’s Home Telematics solutions are helping to change the way insurers engage with their policyholders, mitigate fire & water claims and drive new business growth.
Roost is a technology company based in Sunnyvale, California that is focused on disrupting traditional property Insurance through a “Property Telematics” suite of solutions. Roost’s cloud connected platform utilizes the appropriate wireless technology to enable affordable smart data sensors to alert for water leaks, freezing temperatures, humidity, smoke alarms, and motion which provide peace-of-mind confidence to property owners and rich data to insurers.
Roost’s primary go-to-market approach is through insurance companies deploying directly to their policyholders. The effect is a reduction in claim cost expenses (Fire and Water perils costing $20B/year in US) as well as driving policyholder engagement through a content rich, white-label digital mobile app experience, impacting retention and customer acquisition. Roost has captured over 2.5 billion data points from their deployed systems in North America and Europe. For more information, please visitwww.getroost.com
About Nodak Insurance Company:
Nodak Insurance Company, rated A (Excellent) by A.M. Best, is the largest domestic property/casualty insurer in the state of North Dakota. It has a statewide force of over 70 agents and serves more than 27,000 North Dakota policyholders. For more information, please visit www.nodakins.com. Nodak Insurance Company is a wholly-owned subsidiary of NI Holdings, Inc.
NI Holdings, Inc. Forward-Looking Statement
Some of the statements included in this news release, particularly those anticipating the benefits of the Roost Smart Water Leak and Freeze Detector to Nodak Insurance Company are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Actual results could vary materially. Factors that could cause actual results to vary materially include: adverse and catastrophic weather events and the performance and acceptance of the Roost Smart Water Leak and Freeze Detector. You should not place undue reliance on any such forward-looking statements. We disclaim any obligation to update such statements or to announce publicly the results of any revisions that we may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law.
For a detailed discussion of the risk factors that could affect NI Holdings, Inc., please refer to the risk factors identified in the SEC reports of NI Holdings, Inc., including, but not limited to the Annual Report on Form 10-K, as filed with the SEC.