LAS VEGAS--(BUSINESS WIRE)--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.