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Any Size Insurance Agency or Carrier Can Now Partner with Moen to Help Reduce Non-Weather Water Damage Claims, Improving Loss Ratios & Enhancing Profitability

1. Moen launches a free program for insurance providers to reduce water damage claims. 2. Water damage claims exceed $15 billion annually, emphasizing market potential. 3. Flo device reduces claim events by 96%, promoting its installation for homeowners. 4. Insurance providers can now easily offer water monitoring to policyholders. 5. Moen enhances brand visibility and market presence through partnerships with various carriers.

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Why Bullish?

The introduction of Moen's program could bolster sales and brand loyalty. Historical trends show similar initiatives often result in increased revenue for connected home products.

How important is it?

The partnership program aligns with growing demand for smart home devices, directly benefiting FBIN's bottom line.

Why Long Term?

Long-term adoption by insurance providers will gradually enhance market penetration and consumer trust in Moen products, leading to sustained revenue growth.

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NO LONGER ONLY AVAILABLE FOR LARGE CARRIERS, PROVIDERS CAN NOW SIGN UP TO OFFER THE MOEN® FLO SMART WATER MONITOR AND SHUTOFF TO POLICYHOLDERS AT NO COST, /PRNewswire/ -- Moen, a leader in water experiences in the home, has launched an Insurance Partner Program for insurance providers of all sizes, including regional carriers, to help limit water damage claims across all states with its Moen® Flo Smart Water Monitor and Shutoff. Water damage is a leading cause of insurance claims each year. In fact, it is estimated that insurers nationally pay out over $15 billion in water damage claims annually¹. Moen Flo Smart Water Monitor and Shutoff This new program allows any insurance provider to sign up for free and help their policyholders experience the cost-saving benefits of water leak prevention while also limiting damage claim frequency.   To learn more, providers can sign up for the Free Informational Webinar at www.Moen.com/FloInfoWebinar. "Over a ten-year period, one in every six homes will file a claim for water damage with an average claim of $12,500,2"said Jeff Barnes, vice president, business development, Moen. "By participating in Moen's new Insurance Partner Program, insurance providers can encourage homeowners to install the Flo Smart Water Monitor and Shutoff and thereby help reduce the likelihood of these expensive claims, since the device has been shown to decrease water damage claim events by 96%3." The Smart Water Monitor and Shutoff continuously monitors the pressure and flow rate of water moving through a home's pipes, detecting leaks as small as a drop per minute anywhere in the home. If the device identifies an issue, it will promptly send an alert through the Moen Smart Water Network App, enabling users to turn off the water. In the event of a catastrophic leak, it can be set to automatically shut off the water to prevent major damage. Homeowners also can track water usage by fixture and set conservation goals within the app to further support water-saving efforts. Getting started is easy for providers: Sign up for the Free Informational Webinar at www.Moen.com/FloInfoWebinar. Complete the online application. Download complete marketing and support materials from Moen. Refer policyholders to a special online web form to enroll. Policyholders pay Moen for the device and installation (where available) and Moen does the rest. Moen assigns an account manager and holds monthly Q&A and info sessions. To learn more about Moen's Insurance Partner Program sign up for the Free Informational Webinar at www.Moen.com/FloInfoWebinar.1 Internal Company estimate based on information from sources such as the Insurance Information Institute and the U.S. Census Bureau2 Insurance Information Institute (III): https://www.iii.org/fact-statistic/facts-statistics-homeowners-and-renters-insurance 3 Based on a 2020 Lexis Nexis Study of 2,306 U.S. homes with a Flo Shutoff device. ABOUT MOEN Moen is the #1 consumer faucet brand in North America, offering a vast array of stylish and innovative kitchen and bath faucets, showerheads, accessories, bath safety products, kitchen sinks, garbage disposals, leak detection products and connected home offerings for residential applications that give consumers more power than ever before to understand and control the water that flows through their homes. These thoughtful designs deliver an exceptional user experience and elevate how people interact with water daily. In addition, Moen® Commercial offers superior-performing products that can deliver lower lifetime costs for today's facilities. Moen is part of Fortune Brands Innovations, Inc. (NYSE: FBIN), a brand, innovation and channel leader focused on exciting, supercharged categories in the home products, security and commercial building markets. Moen anchors Water Innovations (WINN), which also includes several brands under the House of Rohl® including Perrin & Rowe®, ROHL®, Riobel®, Shaws® and Victoria + Albert®. Fortune Brands' other brands include Fiberon® composite decking and railing products; Master Lock®, Yale® residential, August® and Sentry® Safe security products; LARSON® storm doors and Therma-Tru® entry door systems. For more information, please visit www.FBIN.com. SOURCE Moen WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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