Internet of Things
Notion is Making Insurance Smarter with DIY Sensors & Expanded Security
Founded in 2013, Notion partners with leading insurance carriers and service providers to deliver DIY monitoring solutions that empower home and property owners with a simple, smart and effective way to proactively monitor their properties from anywhere. While most property owners think of monitoring for theft as the priority, they often overlook other significant risks, such as water leaks, that occur more often and typically lead to costly insurance claims and disruption to daily lives for remediation and repairs.
With our easy-to-use, multi-function sensors and smartphone app, we’re on a mission to de-risk a property and reduce the headaches of property ownership. Homeowners seeking extended protection of their property upgrade to Notion PRO, a service plan that offers professional monitoring for 24/7 peace of mind.
Based on our DIY smart technology and proven success in insurance with partners such as Nationwide, Travelers, and Hippo, Notion was acquired by Comcast in February 2020 and is part of the company’s Strategic Development Group, a team that oversees a portfolio of growth companies that are in emerging or adjacent markets to Comcast’s core business.
Simple Peel-and-Stick Sensors for DIY Monitoring
Because the Notion Sensors are multi-functional, easy-to-install and use, we’re seeing greater appeal and adoption as a result. We aren’t just a water sensor or just monitoring for opening and closing windows. Notion can do it all with a single device. Initially, many property owners don’t see an immediate need for a water sensor, however they quickly realize the benefit of utilizing technology like Notion to monitor for important things in their everyday life (e.g. people coming and going, temperature changes, and more). With Notion, they can monitor all of these activities with one system.
Our smart monitoring solution not only helps detect these issues before they can do costly damage, but also is changing the way property owners behave and think about risk at home or within their business. It turns out that 84% of Notion users didn’t even monitor for water prior to using Notion, despite water being 7x more likely than other insurance perils.
The beauty of Notion Sensors is that users don’t need to purchase different sensors to monitor different tasks. Our sensors are small and multifunctional, monitoring everything from an opening and closing garage door, to windows, water leaks around plumbing or appliances, even temperature changes – alerting property owners via an app on their phone. And for users, it’s as simple as placing a sensor where they want to monitor using its simple peel-and-stick design – no professional installation necessary.
24/7 Extended Security, Because Every Moment Matters
Building on our DIY philosophy, we wanted to take proactive monitoring a step further. That’s why we developed Notion PRO, an upgrade service plan that provides 24/7 professional monitoring at a low monthly price so homeowners never miss a notification.
Notion PRO works with Notion’s existing multifunctional sensors and in addition to the regular push notifications Notion users are familiar with, PRO users receive escalated alerts including group text messages and phone calls. Unlike the majority of professional monitoring services where you have to arm your entire system, Notion PRO always monitors for PRO enabled water and smoke tasks. This means users don’t have to arm their system to receive escalated alerts for water leaks or sounding alarms, the more frequent and severe home related risks. However, users have the flexibility to arm their system as they need to monitor for doors and windows. At work, sleeping, or just busy when an event like a water leak, opening window or sounding smoke alarm is detected? No problem. With Notion PRO, emergency services will be contacted if a user can’t be reached.
Notion PRO is designed to expand the protection of a home and can provide additional savings to homeowners. PRO users may be eligible to save up to 15% on their insurance premiums. And the best part is, registration takes just minutes and is done right in the Notion app.
Creating Smarter Insurance Through Technology
While Notion is changing property owners’ behavior and the way they think about risk, we’re also changing the game for insurers. Through our partner programs, Notion helps insurance carriers, agents and service providers provide value to their customers through our DIY smart home technology and security service. By combining our smart sensors with our app, we’re helping insurers increase customer acquisition and retention, drive engagement, reduce claims, and enable a differentiated offering paired with premium discounts.
For tech-focused insurance providers, Notion is a way to differentiate their offering in the crowded insurance market by drawing in new customers. In fact, our partners have seen a 3x return on investment (ROI) on their customer acquisition costs just by working with Notion. For established insurance providers, our smart sensors are providing increased engagement between insurer and customer. Most customers only engage with their insurer at the time of policy renewal or to file a claim. By leveraging our smart home technology, users are engaging with Notion 9 to 11 times a day via our app that can be customized to each partner, changing insurance from being looked at as a reactive service to a proactive one.
Additionally, with Notion PRO, revenue share is possible through select partner programs. Partners who commit to promoting Notion PRO receive a monthly percentage of the PRO revenue generated by their customers.