WINT and AXA XL extend partnership to mitigate water damage in real estate [Yahoo! Finance]
MUENCHENER RE GP UNSP/ADR (MURGY)
NASDAQ:AMEX Investor Relations:
ir.kiterealty.com
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Source: Yahoo! Finance
NEW YORK June 13, 2024 /PRNewswire/ -- WINT Water Intelligence , a leader in cutting-edge water management and leak-prevention solutions, announces that it is extending its partnership with AXA XL , the property & casualty (P&C) and specialty risk division of AXA, to offer an innovative, comprehensive solution that goes beyond traditional insurance and technology offerings and addresses critical issues in the construction insurance landscape. As part of the AXA XL Ecosystem of curated technology solutions, WINT's AI-based solution mitigates the risk of water damage on construction sites and in commercial and residential buildings to protect general contractors, developers and owners from the rapidly rising costs and impact of water damage. Water damage from leaks is one of the most common claims on both property and casualty and builder's risk policies, with over 30% of builders' risk payouts resulting from water escaping from pipes. A recent study shows that sites protected by W
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