Wirepas, a company on a mission to democratize IoT connectivity and EnviroSmarts, leaders in early water detection, have successfully solved for one of the largest issues plaguing the commercial tenant and hospitality space, water damage.
Whether flooding is caused by a system failure or human error, tenant and hospitality spaces suffer catastrophic losses because of emergency repairs, displaced guests and unavailable spaces that can tarnish a resort's reputation. With COVID protocols in place, there are fewer tenants and guests to notify management of water leaks, so the number of events has increased and our clients have seen a drastic increase in their deductibles.
“Our clients can’t predict when the next accident will occur and the insurance deductibles have more than quadrupled, says Peter McIntosh, CEO of EnviroSmarts. “Because of the increased deductibles, they are essentially self-insuring against water damage claims under $50k. Until early detection, some sites had seen two or three sizable events. Thanks to Wirepas’ solution, we’re able to provide early detection with 24 x 7 coverage for pennies a day. Property managers have full oversight into their buildings through a customized dashboard, enabling them to have a clear picture of their buildings and enabling them to respond quickly if an issue arises.”
EnviroSmarts’ smart sensors, which use Wirepas Massive, a unique connectivity software, provide property managers with early detection warnings which can reduce damage by as much as 96%. The sensors are easily deployable, scalable, and reliable, immediately sending an alert when a sensor breaches a threshold. The sensors can detect water leaks, ambient temperature, humidity levels and motion detection. These added metrics give valuable validation data on the size and the nature of each event.
EnviroSmarts also uses Wirepas node to node communications technology to activate its auto shutoff valves, stopping the leak at the source. This gives the maintenance staff time to get to the site and mitigate the damage of a minor spill. With interactive dashboards, property managers can set multiple thresholds to protect their properties from freezing pipes, water damage or malfunctioning equipment.
Previously, solutions covering an entire property with real-time data weren’t feasible without an enormous cost and significant infrastructure deployments. Wirepas Massive connectivity was specifically designed for low cost, large and high-density networks, making it easy to deploy a network without scale or surface limits and with no infrastructure or cables. Installation times for sensors can be as short as a day and do not interrupt on-site activities.
“At Wirepas, we solve big issues with minimal intrusion, an important equation in an industry like hospitality,” says Teppo Hemiä, CEO of Wirepas. “We couldn’t be happier to be working with EnviroSmarts as they continue on their mission to innovate smart detection in property management companies and resorts globally.”
In the past 18 months EnviroSmarts clients experienced the following:
ROI over 72% in year 1
Payback period <2 years
7% in insurance premiums saved
$400,000 group insurance policy rebate
65 to 220% ROI at resorts with EnviroSmarts systems