RE: Pretty sure30 Sep 2019 20:06
Water Intelligence
During Q3, Water Intelligence took a major step forward to accelerate our on-line product and services strategy and add further scale to the business. Insurance companies, as noted above with the burgeoning "Insuretech" market, are trying to incentivize homeowners to buy technology products to minimize water-related claims. To this end, we established a strategic partnership with a newly-listed AIM company - Entertainment AI plc ("EAI"). EAI owns a technology company - Tagasauris Inc - with which Water Intelligence has previously worked. EAI's technology enables consumers to watch any type of video, see a product - such as a Flo device - and then purchase that product with one click. For example, a homeowner, watching a "How to" channel on YouTube (one of YouTube's biggest content programs worldwide) to see how to deal with a water leak, will be served a Flo YouTube video among other product videos and with one click purchase the product. With the EAI technology, ALD could operate its own sustainability/water channel and directly sell Flo or any home services products and then install the products capturing both sales commission and services revenue. As part of the strategic partnership, Water Intelligence has invested in EAI and also gained an exclusive, global, perpetual, royalty-free license to use EAI's proprietary AI and machine learning technologies to deploy for the areas of water and home services. In this way, Water Intelligence anticipates it can add on-line operational scale and add significant value to business-to-business customers in our growing insurance channel.
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