New risk prevention solution available to carriers through the bolt platform to help customers prevent water damage to homes before it becomes a claim
SAN FRANCISCO, CA / ACCESS Newswire / April 1, 2025 / bolt, the insurtech with the world's largest technology-enabled insurance exchange, today announced the launch of bolt Prevention Technology, a solution designed to help insurance carriers and Managing General Agents (MGAs) reduce water-related losses for their customers through real-time monitoring, automated policyholder engagement, and seamless integration with carrier systems.
By combining IoT-enabled water sensors with bolt's integrated risk management capabilities, bolt Prevention Technology allows carriers to reduce losses proactively, while providing policyholders with smarter protection to prevent potential risks before they become a claim.
Enhancing Risk Prevention with Integrated Technology
Water damage is one of the leading causes of homeowners' insurance claims, with non-catastrophic leaks accounting for approximately 24% of all property and casualty losses1. The average non-weather-related water damage claim exceeds $10,0002, resulting in billions in claims paid annually. bolt Prevention Technology helps mitigate this risk by detecting leaks early, ensuring faster intervention, and reducing the likelihood of severe damage.
bolt Prevention Technology has been developed to respond to these risks.
A study conducted by an independent actuarial firm found that policies with smart water sensors experienced a 39% reduction in water loss frequency and a 12% reduction in claims severity, demonstrating the measurable impact of proactive loss prevention.
"Many sensor programs fail to drive policyholder engagement or integrate risk insights directly into carrier workflows," said Jon Walheim, CEO at bolt. "bolt Prevention Technology bridges this gap by embedding real-time monitoring and automated engagement tools within carrier systems, ensuring that prevention data is actionable. We act on insights gathered by our sensor partners to help homeowners prevent and respond earlier while allowing carriers to take proactive steps to minimize claims."
Building on this approach, bolt Prevention Technology combines real claims data, sensor-driven insights, and seamless integration across underwriting, distribution, and claims workflows. This enables carriers to strengthen risk selection, optimize pricing, and deliver greater value to policyholders across a broad range of home values.
What Makes bolt Prevention Technology Different?
Sensor adoption and policyholder engagement have historically been challenges for both carriers and sensor providers. bolt overcomes these hurdles by tracking activation data, enabling targeted follow-ups, and improving compliance to lower risk-leading to measurable reductions in claims, enhanced underwriting performance, and supporting premium optimization.
bolt Prevention Technology is now available to insurance carriers and MGAs across the United States.
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About bolt
bolt is the leading distribution platform for P&C insurance, uniting distributors and insurers to transform the way insurance is bought and sold.
The result is the world's largest tech-enabled exchange of insurance products, including two-thirds of America's leading insurers, helping businesses of all kinds distribute insurance, expand market reach, and meet more of the insurance and protection needs of customers.
For more information, visit boltinsurance.com.
MEDIA CONTACTS
Ross Stevens
Caliber Corporate Advisers for bolt
bolt@calibercorporate.com
Sources:
1 Consumer Affairs - Water damage insurance claims statistics
2 Forbes.com - Does Homeowners Insurance Cover Water Damage From Rain Or A Leak?
SOURCE: bolt insurance
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