Business News: Phyn, Envista Forensics, GuideOne and Stategos

Phyn Retailing Smart Water-Leak Detector

Phyn announced the release of a water-leak detector that sends alerts to consumer’s smart phones, which will be available for sale in Best Buy stores for $299 starting next month.

Phyn, based in Torrance, California, said its Smart Water Assistant alerts consumers to leaks “within seconds.” The device also provides insights into how much water each and every fixture in a home uses. That enables homeowners to identify ares of excess water use and start conserving, the company said.

Water damage is the second-largest loss for homeowner insurers, behind fire. Insurers including Farmers Protective, Guard and Travelers have teamed up with smart home product providers to offer incentives to homeowners to install telematics systems that protect against the perils of water, fire and theft.

Phyn appears to be headed down the retail path, at least for now. The company said in a press release that its patented pressure-sensing technology measures and analyzes microscopic changes in water pressure to learn and categorize each water fixture.

The device has two high-definition pressure sensors placed on the hot and cold water lines under a sink, the company said. Having two sensors doubles the pressure sensing capabilities of the device and results in a “stereoscopic view” of a home’s plumbing system. Phyn can detect the gradual pressure build-up from ice crystals forming in pipes, and warn homeowners to ensure that their pipes do not freeze and burst.

Phyn also sells an upgraded version of the device that will shut off the water flow to a house when a leak is detected. It sells for $699, according to the company’s website.

Phyn is a joint venture between Belkin International and Uponor, which is listed on the Nasdaq securities exchange in Helinski, Finland.

Envista Forensics Offering Ransomware Insurance

Envista Forensics, a global forensic engineering firm headquartered in Atlanta, announced that it has expanded its cybersecurity services to include ransomware investigation and resolution.

Envista said in a press release that removing ransomware is a multi-stage process that requires skilled expertise. Bad actors can access company books and uncover how much money that company has, and use that as ammunition when creating the ransom.

“Many firms outsource certain parts of this process, and that’s not what we wanted to do,” stated President Bob Wedoff. “We waited until we were able to launch this exactly how we envisioned for our clients, and that included one of the most important pieces of the puzzle—brokering a resolution.”

Envista said its services include:

• Project management from the initial investigation, to resolution and decryption.
• Emergency services to handle any incident or amount.
• Verifying the validity of a decryption key provided by the cybercriminal.
• Cyber breach services, if needed, in conjunction with the ransomware event.
• Assistance with with data restoration.

Envista also provides failure analysis, fire and explosion investigations, cyber and digital forensics, accident reconstruction, building consulting and civil/structural, geotechnical engineering, damage evaluations and subrogation and product liability investigations following disasters.

GuideOne Teams with Strategos for Armed Intruder Training

GuideOne Insurance has formed a partnership with Strategos International to help train and consult with its customers, including schools, churches and senior living facilities, to prepare for armed intruder incidents.

“As we were tragically reminded recently, random acts of gun violence are a grim reality in today’s world. And, oftentimes, the first responder is a member of the community,” stated Jessica Snyder, GuideOne’s chief executive officer and president.

Strategos will give GuideOne customers access to a variety of training modules, from web-based to onsite, at a discounted rate. Training courses cover security principles, intruder awareness and response, and other security-related topics for churches, schools and businesses. Additional resources are also available on GuideOne.com, including webinars, e-books, safety resource articles and more, the carrier said.

GuideOne, based in West Des Moines, Iowa, provides commercial property and liability, workers’ compensation, commercial auto and other liability insurance. Strategos International, based in Kansas City, trains businesses, schools and churches to proactively respond to active shooters and violent intruders.