- WINT Water Intelligence extends collaboration with AXA XL to offer comprehensive water management solutions in the real estate sector.
- The partnership aims to address water damage risks throughout the construction and operational phases of buildings.
- WINT’s AI-powered platform significantly reduces water damage incidents, leading to a 73% decrease in claims and a 90% reduction in payouts.
- The collaboration underscores a shared commitment to sustainability, with a focus on water conservation and carbon emissions reduction.
- Through the AXA XL Ecosystem, clients gain access to innovative risk-reducing solutions, including preferential terms for WINT’s offerings.
Main AI News:
In a strategic move aimed at revolutionizing water management in the real estate sector, WINT Water Intelligence has announced the extension of its collaboration with AXA XL. The partnership, which underscores AXA XL’s commitment to innovative risk mitigation, promises a holistic solution that transcends conventional insurance and technology offerings, squarely addressing pressing concerns within the construction insurance domain.
Under the umbrella of the AXA XL Ecosystem, renowned for its curated tech solutions, WINT’s AI-powered platform stands poised to mitigate water-related risks on construction sites and across commercial and residential properties. By doing so, it shields general contractors, developers, and property owners from the escalating financial and operational implications of water damage incidents.
Water leakage ranks among the foremost causes of claims under property and casualty and builder’s risk policies, with a staggering 30% of payouts attributed to pipe leaks. However, a recent study underscores the transformative impact of WINT’s intervention. Sites equipped with WINT technology registered a remarkable 73% reduction in claims and an astounding 90% decrease in payouts compared to their unprotected counterparts.
Alon Geva, CEO of WINT, emphasized the significance of this collaboration in alleviating the pervasive challenges posed by water damage: “Leaks and water damage pose significant threats across built environments, exerting immense strain on insurance providers. Extending our partnership with AXA XL beyond construction underscores our commitment to revolutionizing water management across a building’s entire lifecycle.”
This extended collaboration not only fortifies risk management protocols during construction but also extends to the operational phase of buildings. By proactively addressing water-related risks, WINT and AXA XL are poised to redefine the landscape of property and construction insurance, fostering a more resilient market ecosystem.
Furthermore, the alliance underscores a shared commitment to sustainability, with WINT and AXA XL actively contributing to water conservation efforts and carbon emissions reduction. Rose Hall, Head of Innovation, Americas for AXA XL, highlighted the pivotal role of WINT in equipping general contractors with innovative tools to mitigate water risks and drive sustainable business practices.
Central to AXA XL’s ethos of innovation and risk mitigation, the collaboration reflects a broader strategic vision to empower clients with cutting-edge solutions tailored to their evolving needs. Through the AXA XL Ecosystem, clients gain access to a curated network of risk-reducing solutions, including preferential terms and discounts on offerings like WINT.
By offering automated leak mitigation, anomaly detection, and global water management capabilities, WINT’s platform empowers stakeholders across the real estate spectrum to proactively manage water risks throughout a building’s lifecycle. Its track record of success is underscored by partnerships with leading insurers, brokers, and industry players, making it a preferred choice for enterprises seeking comprehensive water management solutions.
Conclusion:
The extended partnership between WINT and AXA XL signifies a significant advancement in water management within the real estate sector. By combining cutting-edge technology with insurance expertise, the collaboration is poised to mitigate water-related risks, drive sustainability efforts, and foster a more resilient market ecosystem. This strategic alliance sets a new standard for addressing critical challenges in property and construction insurance, paving the way for enhanced asset protection and sustainable business growth.
