Miami-based BlockRisk and LIKK Technologies have announced a new collaboration to bring simplified insurance solutions to the water leak prevention industry. “This collaboration provides the optimal combination of the risk mitigation features of LIKK’s IoT platform, known as LIKK h2o, with the decentralized and transparent technology features of BlockRisk’s blockchain ecosystem to offer for the first time a guaranteed automatic protection insurance product called BlockRisk hydro,” said Johnny Blatt, CEO and co-founder of BlockRisk. “By combining our functions we complement two market-leading propositions for the water leak prevention and risk transfer sectors,” he continued.
BlockRisk hydro is a blockchain-based peer-to-peer insurance product that, through its group member risk sharing functions, can cover the deductible of members’ water damage claims with automated payment and an easy online user experience.
Products from the collaboration will be offered in all states of the US market starting January 2024. Existing LIKK customers will be the first to benefit from this offer. Collectively they have more than 50,000 smart water sensors installed, actively monitoring water damage across more than 8 million square feet.
“This new collaboration with BlockRisk is another key endorsement of LIKK’s approach to water damage risk management with our platform, which has proven 95% effective in early detection of water leaks for years,” said Ronald Kritzler. , CEO and co-founder of LIKK Technologies.
About LIKK Technologies: Technology company that develops smart security solutions based on IoT and data that monitor, alert and react to water leaks.
About BlockRisk: The optimal combination of the risk mitigation functions of the insurance world with the decentralized and transparent technology functions of the blockchain ecosystem. To learn more about BlockRisk, visit the BlockRisk website.