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A 1,000-room casino hotel used ProSentry commercial Smart water leak detection to avoid a $5M premium hike and saved close to $5M over five years, a 70x return on a $70K investment.
A frozen pipe had already caused over $5M in damage before the insurance renewal.
ProSentry's risk mitigation program gave insurers the confidence to compete instead of walking away.
That's over a 70x return across the next five years.
Temperature, water leak, and oil detection sensors target the property's highest-risk zones.
Hotel rooms, plumbing shafts, and electrical rooms are next in line for coverage.
This case study shows how proactive risk mitigation reduced insurance costs for a leading hotel and casino, at a time when businesses face rising premiums, more frequent losses, and persistent inflation.
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Craig Barnet, CIC of MSG Risk Management, suggested ProSentry, a new “Risk Mitigation as a Service” company that supplies small, wireless Point of Leak (PoL) water sensors and other risk mitigating devices to address high risks that properties face. ProSentry's team, led by Co-Founders John Rusk and Nadav Schnall together with Technical Manager Dan Hurley, proposed an initial deployment of temperature sensors placed inside economizers which suffered from freezing temperatures; water leak sensors and temperature sensors around pool filters, pumps, and mechanical equipment; and outfitted automatic water shutoff valves which would close in the event of a catastrophic leak. Other sensors for oil detection were added to alert in the event of environmental leaks.
Insurance carriers do not like to see claims frequency, severity, or repetition.
In response to the water loss risk mitigation actions of ProSentry, MSG worked with the marketplace and increased interest from insurance carriers, creating competition in the primary layers. Instead of the projected $1MM increase, the casino hotel was able to bind their renewal with a modest increase which was in line with general market conditions and values inflation.
It is estimated that, due to the increased competition generated by ProSentry's risk mitigating platform,
The hotel is currently planning additional deployments for second-tier risks, which will include the hotel rooms, plumbing shafts, and electrical equipment rooms.
One of the key features of the ProSentry platform noted by both clients and their insurers was the notification system.
While ProSentry provides dashboard alerts, in-app alerts, emails, and text messages, it also provides near-instant live operator calls directly to the hotel's 24/7 security team, assuring risks are addressed in the shortest amount of time.
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One of the key features of the ProSentry platform noted by both clients and their insurers was the notification system.
As the casino hotel considered other potential Smart water leak detection systems, it ultimately chose ProSentry for its robust risk-mitigating platform and considerable range of sensor offerings, such as industrial-sized valves and oil sensors, as well as industrial-grade water, temperature, and humidity sensors. It also noted that ProSentry's upcoming new risk mitigating devices such as staff panic buttons, bedbug sensors, and smoke and vape sensors were of interest as the hotel considers additional layers of sensing capabilities.
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One of the key features of the ProSentry platform noted by both clients and their insurers was the notification system.
These sensors benefit from being connected to an in-building wireless network powered by Netmore, a ProSentry partner. With Netmore's high-availability enterprise-grade network services included, the ProSentry system can actively monitor and manage the network and device infrastructure, providing the added value of real-time actionable sensor data for the hotel.
ProSentry provides a Smart Building Platform which streamlines smart sensor technology into one centralized dashboard for building-wide insight, risk prevention, and effective response.
A frozen pipe had already caused over $5M in damage before the insurance renewal.
ProSentry's risk mitigation program gave insurers the confidence to compete instead of walking away.
That's over a 70x return across the next five years.
Temperature, water leak, and oil detection sensors target the property's highest-risk zones.
Hotel rooms, plumbing shafts, and electrical rooms are next in line for coverage.
This case study shows how proactive risk mitigation reduced insurance costs for a leading hotel and casino, at a time when businesses face rising premiums, more frequent losses, and persistent inflation.
Craig Barnet, CIC of MSG Risk Management, suggested ProSentry, a new “Risk Mitigation as a Service” company that supplies small, wireless Point of Leak (PoL) water sensors and other risk mitigating devices to address high risks that properties face. ProSentry's team, led by Co-Founders John Rusk and Nadav Schnall together with Technical Manager Dan Hurley, proposed an initial deployment of temperature sensors placed inside economizers which suffered from freezing temperatures; water leak sensors and temperature sensors around pool filters, pumps, and mechanical equipment; and outfitted automatic water shutoff valves which would close in the event of a catastrophic leak. Other sensors for oil detection were added to alert in the event of environmental leaks.
Insurance carriers do not like to see claims frequency, severity, or repetition.
In response to the water loss risk mitigation actions of ProSentry, MSG worked with the marketplace and increased interest from insurance carriers, creating competition in the primary layers. Instead of the projected $1MM increase, the casino hotel was able to bind their renewal with a modest increase which was in line with general market conditions and values inflation.
It is estimated that, due to the increased competition generated by ProSentry's risk mitigating platform,
The hotel is currently planning additional deployments for second-tier risks, which will include the hotel rooms, plumbing shafts, and electrical equipment rooms.
One of the key features of the ProSentry platform noted by both clients and their insurers was the notification system.
While ProSentry provides dashboard alerts, in-app alerts, emails, and text messages, it also provides near-instant live operator calls directly to the hotel's 24/7 security team, assuring risks are addressed in the shortest amount of time.
One of the key features of the ProSentry platform noted by both clients and their insurers was the notification system.
As the casino hotel considered other potential Smart water leak detection systems, it ultimately chose ProSentry for its robust risk-mitigating platform and considerable range of sensor offerings, such as industrial-sized valves and oil sensors, as well as industrial-grade water, temperature, and humidity sensors. It also noted that ProSentry's upcoming new risk mitigating devices such as staff panic buttons, bedbug sensors, and smoke and vape sensors were of interest as the hotel considers additional layers of sensing capabilities.
One of the key features of the ProSentry platform noted by both clients and their insurers was the notification system.
These sensors benefit from being connected to an in-building wireless network powered by Netmore, a ProSentry partner. With Netmore's high-availability enterprise-grade network services included, the ProSentry system can actively monitor and manage the network and device infrastructure, providing the added value of real-time actionable sensor data for the hotel.
ProSentry provides a Smart Building Platform which streamlines smart sensor technology into one centralized dashboard for building-wide insight, risk prevention, and effective response.
Insights, innovations and updates from the ProSentry Knowledge Base
A Case Study in How the Insurance Industry Rewards Proactive Risk Management
ProSentry introduces the Water Damage Prevention Score, a free risk assessment designed to help Boards, property owners, and managers identify vulnerabilities and strengthen their building's risk mitigation strategy.
A Case Study in How the Insurance Industry Rewards Proactive Risk Management
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