BlockRisk and LIKK Technologies announced a customer-first partnership to deliver LIKK's water leakage smart device platform with BlockRisk's warranty coverage for water damage deductibles

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Jan 23, 2024, 17:18 ET

MIAMI , Jan. 23, 2024 /PRNewswire/ -- Miami-based BlockRisk and LIKK Technologies have announced a new partnership to drive streamlined insurance solutions to the water leakage prevention industry. "This partnership brings the optimal combination of the risk mitigating features of LIKK's IoT platform known as LIKK h2o, and the decentralized and transparent technology features of BlockRisk's blockchain ecosystem, delivering for the first time ever an automated gap insurance product called BlockRisk hydro," said Johnny Blatt, CEO and Co-Founder of BlockRisk. He continued, "Combining our capabilities complement two market-leading propositions to the water leakage prevention and risk transfer segments in the US."

BlockRisk hydro is a peer-to-peer, blockchain-based insurance product that by using its pool members risk distribution features can cover the deductible of the pool members water damage claims with automated payout and easy-to-use online user experience.

The partnership's products will be offered across every state in the US market from January 2024. LIKK's existing clients will be the first to benefit from this offering, collectively they have more than 50,000 smart water sensors deployed, actively monitoring more than 8 million square feet for water damage.

"This new partnership with BlockRisk represents another key endorsement of LIKK's approach to water damage risk management with our platform, which over the years has 95% effectiveness in early detection of water leaks" mentioned Ronald Kritzler, CEO and Co-Founder of LIKK Technologies.

About LIKK Technologies: A technology company that develops smart IoT and data-enabled safety solutions that monitor, alert and respond to water leaks.

About BlockRisk: The optimal combination of the risk mitigating features of the insurance world and the decentralized and transparent technology features of the blockchain ecosystem. To find out more information about BlockRisk, go to BlockRisk's website.

CONTACT: [email protected]

SOURCE BlockRisk