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The insurers on the right path to better prevent water damage : the process takes time

by

Hubert Roy

March 20, 2018 07:00

The founding members of the Association of the prevention of water damage (PREVDEQ), Mathieu Lachaîne, Gilles Fréchette and Jean-Hugues LaBrèque | Photo : Réjean Meloche

The founders of PREVDEQ say they are convinced that insurers do their homework in order to approve different systems of protection from water damage. It is a process that takes time, however.

«It is long, but things are changing,» said Mathieu Lachaîne, president ofUbios, one of the three founding members of the PREVDEQ. We have seen over the last 18 months. They are thirsty for data. They tell us to install systems, and they will make their decisions based on the data accumulated. «

The actuarial enters the scene, underlines Jean-Hugues Labrèque, president ofInflotrolix. «The insurers all have their lab innovation. They see market share that they could not go seek before. Thus, there is a side prevention in their subscription. Accumulate the data allows them to test the performance of the systems. It is actuarial. They see the benefits, but they want to see the cost vs. benefits. It tests the products to arrive at the correct pricing. «

The establishment of regulations for the sector will be so beneficial, believes Mr. Lachaîne. «Rather than increase the deductible, they can offer their client to look at what can be done in prevention. The industry is going to turn up there. This will be beneficial to the client. The insurers will not have the choice. The tools to manage their risks become more and more legislated. «

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