twingz: helping you move from damage regulation to damage prevention

twingz: helping you move from damage regulation to damage prevention

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on 10 Oct, 2018

twingz provides damage prevention and energy management services by analyzing electricity and water meter data. Through data disaggregation and machine learning based pattern recognition, twingz makes power and water consumption transparent, controllable, predictable and safe. twingz services help prevent fire and water damage, reduce payouts for insurers and offer a continuous value to their clients.

twingz services contribute to the industry-wide transition from damage regulation to damage prevention. With their predictive analytics they detect anomalies in consumption patterns and issue warnings on imminent damage and malfunctioning accordingly. By providing fire and water damage prevention services the number of claims can be reduced, while simultaneously opening a communication channel and continuous value delivery to end consumers’ life’s.

Successful pilot
During a successful pilot with Delta Lloyd, now Nationale Nederlanden, a number of potential fire incidents were alerted for and customer engagement increased substantially. twingz has participated in the W1 Forward Insurtech accelerator and has won several awards in the past among which are the Salzburg AG Innovation Challenge, the Verbund Energy Challenge and the 2nd Place on the EWE Enera challenge.

How it works
twingz reads out any type of flow meter, runs its predictive analytics engine, which automatically detects appliances and learns consumption & behavioral patterns. When anomalies are detected alerts and management recommendations are issued before damage events occur.

Tailored approach to risk underwriting
The insights gleaned on customer and appliance behavior provide a deep understanding of fire and water damage risk and enable a tailored approach to risk underwriting. This is further enhanced by the possibility to include anonymized contextual data on socio-economic, demographic and geographic parameters as well as providing the basis for a transition in value proposition from damage regulation to damage prevention.

Why we selected twingz for DIA Munich
twingz solutions address several of the insurance industry’s most significant trends. As an IoT platform that connects devices, customer and insurer twingz provides: superb customer engagement, sophisticated underwriting and risk reduction and contextual data propositions.

At DIA Munich, Werner Weihs-Sedivy, CEO & Matthias Monreal, Business Development, will demonstrate the coupled damage prevention and energy management services which provide a continuous value to customers in their everyday life, not only in the aftermath of a damage event.

Who is twingz?
twingz was originally founded by Werner Weihs-Sedivy (CEO) and Chris H. Leeb (CVO) in December 2010. Back in the days the original idea of twingz was to communicate with devices and other things and to be reachable in networks. Shortly thereafter in 2011 Dietmar Millinger (Senior Architect) joined the team and completed the founder’s group.

twingz is based in Vienna, Amsterdam and Berlin.  based predictive analytics solutions specialist. It recognizes activities of appliances and machinery by reading meter data feeds of electricity meters and delivers valuable insights to their B2B clients such as insurance companies and energy companies, which in turn deliver to their client bases of SMEs and consumers. Main benefits are fire damage prevention, enabling predictive maintenance and energy saving. The Team consists of 14 members with intense knowledge in IoT and data sciences and is focused on tech topics in Vienna and market development in Amsterdam. Represented in Austria, Germany, Netherlands

Werner Weihs-Sedivy, CEO & Founder
Dietmar Millinger, Senior Architect & Founder
Chris H. Leeb, CVO & Founder

Patrick Thomas, CTO
Stephan Dorfmeister, CFO
Karin Fleck, Business Development DACH
Rose Aquino, Marketing Manager & Assistant to CEO
Norman Lindner, Product- & Account Management
Matthias Monreal, Business Development DACH
Chretien van der Aa, Business Development Netherlands

http://www.twingz.com/

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