At CES 2020, Wearsafe Labs, a leader in consumer and enterprise IoT
software, today announced that it will now include insurance protection
to cover certain accident-related medical expenses for individuals using
their supported IoT devices. The Blanket Accident Insurance coverage is
underwritten by Zurich American Insurance Company.
Wearsafe’s IoT software platform powers a host of LTE, Bluetooth, Wi-Fi,
and GPS-connected device applications designed for the well-being of
individuals, their children, parents, pets, homes, and other valued
possessions.
“At this year’s CES, we are showcasing being the first to market a
protection software solution that goes beyond the application,” said
David Benoit, CEO of Wearsafe Labs. “Our patented IoT platform is
extremely dynamic, and now adds insurance protection from Zurich that
can help financially protect device holders in the event of an
accidental injury. Wearsafe-powered devices provide a personal alert
network that can initiate professional monitoring services and escalate
various forms of emergency assistance. For our customers who may incur
accident-related medical expenses due to their emergency (i.e. hospital
or ambulance expenses), the Zurich insurance coverage helps provide
financial protection to the consumer, subject to the terms and
conditions of the insurance policy.”
“At their core, IoT safety devices powered by the Wearsafe software
platform solve the problem of providing immediate emergency assistance
to our users in their time of need,” said Dan McDowell, Vice President
of Sales for Wearsafe. “However, emergency situations oftentimes create
financial burdens for our users in the form of emergency transport and
medical expenses that may not be fully covered by a user’s health
insurance. By combining the safety our devices provide with the
financial protection afforded by Zurich, our IoT software platform
creates significant product differentiation for our device partners,
drives device usefulness, and enhances customer value.”
“We are proud to complement Wearsafe technology solutions with our
Blanket Accident Insurance coverage, creating significant value for
Wearsafe customers,” said Mike Hughes, Vice President and Zone
Underwriting Manager for Group Accident at Zurich North America.
In addition to providing the data communication infrastructure and
mobile app experience for a wide range of IoT devices, the Wearsafe
platform now provides wireless operators, hardware manufacturers, and
IoT distributors with service expansion and extension opportunities to
drive additional consumer engagement and revenue. Additionally, by
pairing IoT devices with insurance solutions, Wearsafe is able to bridge
consumers’ need for both safety and security while enhancing peace of
mind.
Insurance products and coverage were arranged on behalf of Wearsafe Labs
through ZON Digital Insurance, the licensed division of Group Benefit
Options, LLC. www.gboiq.com.
About Wearsafe Labs
Based in Hartford, Connecticut, Wearsafe provides an industry-leading
IoT platform and mobile app software to international hardware
manufacturers and wireless operators. Wearsafe’s carrier-grade IoT
platform powers a wide range of consumer and enterprise IoT devices
including mPERS, panic buttons, smartwatches, pet and asset tracker
devices, and automobile safety devices. The Wearsafe platform includes a
fully-licensed insurance solution with consolidated billing and delivery
of insurance products to IoT consumers and supports the integration of
insurance services directly into an IoT device’s set-up flow, including
the underwriting, quoting, binding and issuing of insurance products and
solutions. IoT devices powered by the Wearsafe platform provide
consumers with comprehensive features including real-time tracking,
precise in-building location, large-scale enterprise deployment and
management, 2-way voice calling, voice activation, customizable alerts,
professional monitoring integration, and geolocation in a universal
application.
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