Notion Q&A: Home security technology, insurance partnerships

When we first started the company we went through Techstars, a startup accelerator, in Boulder, Colorado and we had a Kickstarter campaign to raise money and generate revenue. We tested out market strategy and partnerships with companies that could benefit from our products.

Insurers wanted to work with us. The companies were looking for ways to innovate and reduce losses.

Today, we help insurers in three ways: acquiring policyholders, price differentiation and retention.

A lot of our insurance partners want more positive ongoing conversations with policyholders and we are a good way to do that. Most insurers have a hard time getting consumers to download their apps, with Notion, there are more ways to interact with policyholders. There are co-branded opportunities to send policyholders things related to home safety. For example, Nationwide customers receive fire safety tips or some version of that through Notion as Nationwide.

It was fairly easy for us to get pilots with insurers because the benefits are obvious, but it was difficult to scale the pilots. One of the things we ran into was as a part of the Internet of Things industry we needed to provide insurers with proof and numbers.

There is longevity to what we are doing because, with property, you want ongoing monitoring forever. Data around loss prevention, specifically related to water, has become a key selling point. A number of our partners have seen zero water leak claims since partnering with Notion. Insurers are starting to believe what we are doing.

We have seen a reduction in loss with our products.

It is great for us as it translates into a whole lot more opportunity, support and expansion.

There is a lot of future between all of us with Notion as a catalyst. So, Comcast plus the insurance industry, that’s what we are excited about.