Neos
Smart home technology and monitoring for insurance.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor investor | €0.0 | round | |
| investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
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Neos was a UK-based insurtech company that provided smart home technology bundled with home insurance policies. Founded in 2016 by Matt Poll and Krystian Zajac, the company aimed to shift the insurance model from reactive to proactive by using internet-of-things (IoT) devices to prevent incidents like burglaries, fires, and water leaks. Poll had a background as a commercial director at insurer MoreThan, while Zajac founded the smart home company Fibaro.
The company's core offering included a package of smart devices such as cameras, motion sensors, smoke alarm batteries, and leak detectors, all connected to a central app. This system provided 24/7 monitoring and would alert homeowners via their smartphone of any unusual activity. Neos operated on a business-to-business-to-consumer (B2B2C) model, partnering with established insurance carriers to offer its technology as part of their policies. Initially, customers could get an insurance policy directly from Neos, which was underwritten by insurers like Hiscox and later Munich Re. The business model focused on reducing claims by preventing incidents, which benefits both the customer and the insurer.
Aviva acquired a majority stake in Neos in 2018, integrating the technology into its own home insurance offerings. In June 2021, Sky UK acquired Neos from Aviva. Following the acquisition, Sky integrated Neos' technology into its own product, launching Sky Protect Smart Home Insurance in 2023, an offering that combines smart home devices with a policy underwritten by Zurich UK. However, in 2024, Neos announced it would be shutting down its app and services, rendering the original Neos-branded devices largely non-functional for remote monitoring.
Keywords: insurtech, smart home insurance, IoT devices, home protection, property technology, proactive insurance, home monitoring, leak detection, home security camera, insurtech partnership, Aviva, Sky UK, Matt Poll, Krystian Zajac, connected home, insurance technology, claims prevention, remote monitoring, smart sensors, UK startup