(Image source: Whisker Labs.)
State Farm (Bloomington, Ill.) has announced an initiative to provide its policyholders with technology to mitigate electrical fire risk—a hazard responsible for 13 percent of all home fires at a cost of $1.3 billion in annual home damage, according to the National Fire Protection Association 2019 Survey. The insurer has invested in Whisker Labs (Germantown, Md.), and will offer the company’s Ting sensor to its customers. This sensor technology helps mitigate electrical fire hazards in the home before a fire occurs, providing what State Farm calls a different way of complementing insurance with a proactive instead of reactive solution.