Fortune: Nest’s deal with insurance company’s gives it a huge advantage
From Fortune:
Nest, a business owned by Google that makes connected home products, refreshed its line of three devices today, but it was the firm’s deal with insurance companies that’s really exciting. Nest said it has established partnerships with American Family Insurance and Liberty Mutual Insurance to offset the costs of a Nest Protect smoke detector, and establish a monthly discount for homes that link their Nest smoke detectors to the insurance firms.
American Family is the first insurer to have the program up and running, but it’s only doing so in the state of Minnesota. The insurer will send the customer the Protect (which costs $99) at no cost, and the customer hooks the Protect up via the ‘Works with Nest’ program. That will enable the Protect to share some data with the insurance firm so it knows if the customer’s house has working smoke detectors.