“smart” could help the insurance industry save millions by providing the ability to pre-empt geyser bursts that make up about 70% of all home insurance claims in South Africa.The gold is in the data. The insurance companies are struggling because there is not enough data
According to Fearon, households can save up to 50% on their electricity spend using the Elon Smart system, but the data it collects is even more useful for insurance companies, for whom preventing geyser bursts and the collateral damage to ceilings and other household structures is a major priority.
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