Onics, a Danish smart-home technology firm with a significant presence in the Nordic insurance market, is expanding into the UK as it seeks to help home insurers curb losses.
The company, which supplies Internet of Things (IoT) sensors and data platforms to major Nordic insurers including If Insurance, says its technology can help prevent common household claims such as water leaks, fires and burglaries.
Onics argues that avoiding these incidents – which it says account for up to half of UK home-insurance claims – could offer insurers much-needed relief in a difficult market.
Chief executive Karsten Ries said UK insurers were “facing a challenging market where margins continue to be squeezed”.
He added: “We’re here to help insurers return to profit by preventing losses before they occur. As the power behind AI, we provide the high-quality data needed to unlock its full potential for underwriting insights.”
Onics’ connected sensors feed real-time, structured information directly into insurers’ pricing and risk models. The firm says this enables earlier intervention when problems such as leaks arise, while giving insurers a sharper view of household risk.
The company provides integration support, a ready-made customer app and API links to insurers’ existing systems. It also says offering visible home-protection services can help insurers strengthen customer loyalty, with additional features such as smart-home automation and intruder-alarm functions opening the door to new revenue streams.
Onics was formed through the merger of two Nordic IoT firms, Denmark’s Develco Products and Norway’s Datek Smart Home. The group has worked across insurance, energy, property and assisted living, and says it aims to set a new benchmark for connected-home services in the UK.
