Hero Labs launches smart home insurance brand

London tech start-up, Hero Labs, has launched an insurance platform that rewards customers with discounts for having invested in smart technology that protects their homes.

The new brand, Hiro, offers policyholders a discount of up to 25% using smart devices they already own and can purchase more technology from a discounted in-app marketplace to further protect their home. 

The initiative was created to encourage homeowners and renters to invest in smart technology to protect their homes from some of the most common causes of damage, such as cameras, video doorbells and smart leak detectors. 

The service itself will also use smart technology to operate by using machine learning to settle claims in seconds and automate simple tasks, creating a customer experience that is closer to modern on-demand services than a traditional paper-bound insurer. 

This insurance brand is the latest offering in a suite of home protection products from Hero Labs, who recently won a prestigious Red Dot: Product Design 2020 award for Sonic, its smart water monitor and automatic shut off solution which is able to protect an entire building from water leaks.

“Not a lot of people know this, but insurance was originally about working together to stop bad things from happening,” said Krystian Zajac, CEO of Hero Labs. “The first professional fire service was a home insurance company. They would literally come to your house and help you put the fire out.”

From this, Hiro aims to blend the concept of insurers and customers collaborating to protect their homes with modern smart home technology and machine learning methodologies. 

Hiro is expected to launch later in 2020, with a waiting list already open

Consumers can download the Hiro app to get an estimate of how much they could save based on current smart devices installed.