Enhanced risk management and sustainable ESG-Strategy for NH Hotel Group
Water damage remains one of the most common causes of insurance claims, costing property owners and insurers significant funds. And in the hotel industry in particular, conserving water or detecting leaks is anything but easy. With countless rooms and facilities such as restaurants and swimming pools, hotels are among the big users when it comes to water. And with all the water supply systems in hotels, the risk of leaks is high. Working with Finnish water efficiency expert Smartvatten and Zurich Insurance, NH Hotel Group is now taking important steps to achieve its sustainability and risk reduction goals.
„NH Hotel Group has a strong commitment to minimize the impact of our presence on the environment and the surrounding communities, from design, construction, operation and renovation. We drive our efforts by reducing the consumption of natural resources such as water and energy,” says Elena Ruiz, Sustainability Director at NH Hotel Group. “Now, together with Smartvatten and Zurich Insurance, we will be even more efficient and responsible in our water management, which will help us to have a better impact on our planet.”
Monitoring water - Multifaceted benefits for both Zurich and insurance clients
According to the Association of British Insurers (ABI) in 2020, 20% of claims were due to water leaks, costing insurance companies €2.4 million daily. From 2014 to 2020, the average cost of claims also increased by 50%. Water damage is a burden on tenants, property owners and insurance companies alike.
Zurich has therefore worked closely with property owners and managers to promote sustainable management and to enhance their customer’s peace of mind by enabling services that give transparency to their properties and reduce their risk, as part of their protection offering.
To help its customers conserve water and to prevent water damage from leaks, Zurich sought innovative, easy-to-use technology that met its requirements for simplicity and ease of installation. The focus was on a solution that could be easily implemented without compromising data quality and complex processes. In Smartvatten, they found a trusted partner to achieve their goals.
“A plug and play and easy way to understand the use of water is an excellent starting point to innovate and to protect our customers, enhance their efficiency and help their sustainability journey. Sustainability is a key strategic pillar for us so, avoiding waste of water is the right thing to do. Moreover, our joint effort with Smartvatten is highly appreciated by the first customers that have enrolled the initiative” says Anna-Marie Jarvis, Head of Commercial Insurance Spain.
And Francisco Gayá Navarro from NH Hotel Group adds:
"This project and collaboration represents a step forward for NH, Smartvatten and Zurich that will allow us all to understand better how hotels behave and have a better perspective of which ways of improvement exist in terms of water consumption and savings. That is why, after the first phase of deployment that is being carried out, possibly the most challenging, as well as interesting, part will begin, which will be being able to collect and digest the information that is received to take action! It's great to see that the system has already started to detect water leaks. Detecting and addressing leaks promptly is crucial for minimizing potential damage and conserving NH water resources.”
Smartvatten - Unified Water Data as a service
Smartvatten offers unified water data as a service, which covers the entire water cycle and helps property owners save precious water, valuable time, and money. The groundbreaking solution adopts a decentralized and streamlined approach to water monitoring, providing real-time insights into the water consumption patterns for both the entire building and individual building units. By proactively detecting anomalies in water usage, the system promptly addresses leaks and inefficiencies, minimizing the threat of structural damage and conserving precious resources.
“Delayed leak detection and potential property damage have been recurring concerns for both sides.” explains Ali Salman, responsible Sales Manager from Smartvatten. “With digital water monitoring Zurich is able to provide a comprehensive coverage and risk management to their clients, while at the same time Zurich can lower its own risk mitigation through real-time data, and property managers can counteract challenges like water wastage, operational disruptions, and high insurance claims due to water-related incidents.”
Limited offer for Zurich Insurance Customers
For Zurich Insurance, optimizing their customers' risk management in relation to water-related risks is a top priority. Would you also like to measure the water consumption of your property in real time and thus save water and money? Take advantage of a limited offer from the joint cooperation of Smartvatten and Zurich!
The first Zurich customers applying can initiate a 2-meter paid pilot. For more details, please get in touch with Ali Salman, Global Key Account Manager Smartvatten at firstname.lastname@example.org or download brochure here.
Smartvatten: Ali Salman - Global Key Account Manager
Zurich Insurance: Gloria Lozano - IoT initiatives lead at Zurich Insurance
NH Hotel Group: Francisco Gayá Navarro