Conventional Smoke Alarms and Heat Alarms are designed to trigger after the property has caught fire – a survey by Which Consumer Reports found even the best performing kitchen heat alarm took 5 minutes to respond to fire. 5 minutes after a fire starts, the damage is likely to be substantial and the restoration costs significant. About 1 in 800 houses have a house fire in a given year, and the household fire damage claims in the UK average over £50,000. Pippa warns the user before a fire starts, preventing danger to them, but also preventing damage to the property. This substantially reduces the costs to the insurer and the property manager, as well as the disruption to the residents.
Stove fire risks increase several fold with age, and also with alcohol and substance use. If you operate or insure properties occupied the over 65s, or student accommodation or similar, Pippa can significantly reduce your fire risk exposure.
Pippa surveyed 1,000 home insurance customers aged 50+.
Preventing these hazards presents a massive opportunity to reduce the fire risk exposure of insurers and property managers.
Total fire claims average £80 per household per year in the UK (ABI data). If Pippa prevents the 50% of these that start on the stove, the annual saving is £40 per year, giving Pippa payback of around 2 years.
Stove fire rates for the over 65s are double the rate of the under 65s. Targeting the over 65s will yield savings of up to £80 per year, giving Pippa a payback of around 1 year.
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