Zoopla Property Group has been on a major acquisitions drive this year, snapping up or partnering with a number of small start-ups in the property space including PropertyDetective, Bricklane, Landbay and Trussle.
The latest name to be added to the list is Neos, which recently announced it had secured strategic investment from Zoopla.
The link-up will see both companies working together in an exclusive partnership to develop and roll out Neos’ smart home insurance packages, said to be the first such coverage to be offered to homeowners in the UK.
The move will likely introduce Zoopla’s existing user base to Neos, which makes use of smart home sensor technology coupled with a proprietary app to actively reduce the threat of unwelcome incidents (such as fires, floods and incidents of theft) from causing significant damage to properties. It is complemented by a traditional insurance policy underwritten by Hiscox, which was recently awarded the 2016 Consumer Intelligence Most Trusted award. The combination of the two is designed to offer complete home protection, while reducing the amount of insurance pay-outs needed, by giving the homeowner a way to actively look after their property and stop a small issue such as a leak from becoming a significant problem.
“It’s fantastic to be partnering with, and have the support of, the Zoopla Property Group team,” comments Matt Poll, CEO of Neos. “We know that consumers who are making property decisions are also those looking to re-evaluate their home insurance and methods for protecting their cherished possessions. As a consumer champion at the heart of the home, Zoopla is the perfect partner to support the benefits of the Neos service.”
“As we move towards an era of the smart home with connected devices, we think it’s an interesting proposition to tie it to insurance,” adds Alex Chesterman, CEO and founder of Zoopla Property Group.
Neos’s insurance services will become widely available across the UK in 2017, following the completion of its early access programme in the South East of England.