Roost is an USA insurtech company focused on disrupting the traditional Property &Casualty (P&C) Insurance model through their “Telematics for the Home” approach. Their innovative solutions fix practical, everyday problems in the home using Wi-Fi to make a home even safer. Whether it's fire, carbon monoxide, natural gas or water damage. Roost developed a unique, patented connected platform that is simple to install and affordable: the Roost Smart Battery, Roost Smart Smoke Alarm and Roost Smart Water Leak and Freeze Detector. The award-winning Roost Smart water leak detector is designed to sense water leaks as well as humidity and freezing temperature situations and then deliver smartphone alerts to help minimize water damage. The products provide peace-of-mind to homeowners, are affordable, starting with a $30 smart 9V battery that transforms smoke alarms into smart alarms, and is real easy to install.
The brilliance of Roost is its retrofit concept. It doesn't require replacing the current smoke alarms. A user just has to swap out the battery (which must be done a couple times a year anyway). The set-up process is simple. After downloading the Roost app, a user enters his phone number, name, email address and selects the Wi-Fi network. His phone will then send an audio signal to the Roost battery that sounds like a 56k modem dialing up.
The Roost solution is disruptive to the P&C Insurance segment by impacting:
- cost savings, specifically reducing the cost of Fire and Water claims by mitigating these perils.
- risk reduction, ultimately, validation that homes with Roost devices are inherently lower risk for fire and water claims vs those without.
- customer engagement, transforming the insurer-policyholder relationship into a tangible one.
- greater peace-of-mind. Improved affinity towards the insurer and improved NPS.
Roost’s primary Go-to-Market is through insurance partners and they have a retail presence in the US, Australia (on-line) and most recently UK (Amazon). Insurance Partners include: Desjardins, USAA, Liberty Mutual and ASI/Progressive.
Partnership with Desjardins
Desjardins, is Canada’s third largest P & C home insurer. Their clients are eligible to receive a free Roost Smart leak detector whenever they sign up for the Desjardins Insurance Home-Auto or The Personal app. The award-winning Roost Smart water leak detector is designed to sense water leaks as well as humidity and freezing temperature situations and then deliver smartphone alerts to help minimize water damage. In Canada, more than 50% of home insurance claims are due to water damage. This partnership with Roost allows Desjardins to provide their clients with a unique solution to quickly mitigate these water leak situations in their homes as well as providing a greater peace of mind. Roost Home Telematics and Desjardins are demonstrating a more symbiotic relationship between policyholder and insurance provider with a simple, affordable, and effective smart home solution for water damage.
Why we selected Roost for DIA Amsterdam
The insurtech innovation that Roost will demonstrate @ DIA is a unique cost effective “Home Telematics” platform solution to address the claims cost mitigation of both the Fire and Water perils in homes and small commercial properties. In addition, they have a demonstrated positive impact on policyholder retention, engagement and acquisition. Roost devices are affordable and can transform the historical paper relationship between insurer and consumer into a more meaningful and tangible relationship.
Who are Roost?
Founded in June, 2014 by Roel Peeters and James Blackwell. Roost is based in Sunnyvale, California. To date they have raised $6.5M through seed and series A (RPM Ventures & USAA Insurance are 2 key investors). Presently they are in process of closing a series B round.
Roel Peeters, Roost CEO and co-founder.
"You can buy a smart dishwasher that texts you when it's done, but nobody cares about that. But when your smoke alarm goes off when you're not at home and you get a notification, that's very valuable." Roel Peeters, CEO and co-founder of Roost.
Representitive: David Henry
Contact Info: Rachael Henry
Telephone: +1 510-708-3164