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Flooding: How IoT Sensor Technology Can Help Alleviate Your Risk

Flooding Season is upon us!
April showers bring May flowers, as the saying goes. This time of year, we generally think we’re ready for rainy weather and the associated basement flooding. However, in recent years, unpredictable weather patterns have resulted in more flooding than expected. Toronto’s 2017 spring season saw waters rise to record breaking levels, due to unexpectedly harsh and heavy rains.
Climate change is affecting us all through extreme weather events such as last year’s extended wet season. The result has been a substantial uptick in insurance related claims due to damage in recent years. According to the Insurance Bureau of Canada, “From 2009 to 2014 insured losses from catastrophic events were close to or above $1 billion each year – most of this was due to water damage.” (Source)
When the usual springtime rain is combined with an omnipresent climate change risk, the result is overland flooding. Sometimes, it can be quite severe, like the historic flash flooding of July 8, 2013 – Ontario’s costliest natural disaster on record.
Whether you’re facing extreme flooding or simply the usual basement flooding as a result of springtime rain, the benefits to adopting IoT enabled sensor technology are significant. Early notification obtained form smart sensors is key to minimizing the damage to your home.
If your home is prone to flooding, chances are you have experienced some kind of water issue already. You have likely installed preventative measures such as sump pumps and backwater flow valves (which we highly recommend). Connected sensor technology will communicate to you when you need to be aware of the presense of water in your home.
Our Sensors Can Help
Our H2O sensors track water, moisture and humidity, sending immediate alerts the moment water is detected. The homeowner will receive a notification through our My Eddy Home App, providing them ample time to get to the area of concern and begin mitigating damage.
Now that spring it upon us, it’s time to start thinking about flood season and what that means for your home. Our advice: look into the many benefits of the connected home, so you’re ready for whatever spring season throws at you!
Eddy Home is an industry leader in leak protection and water monitoring solutions. Our suite of smart products offers a comprehensive water management system for building operators and homeowners that protects, controls, and conserves water. Our products have saved thousands of customers millions of dollars in damages and millions of litres of water waste by continuously monitoring water usage in their properties. For more details, please contact us at 1 877 388 3339 or email info@eddyhome.com.

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Paul Pathak​

Director

Paul Pathak is a partner of Chitiz Pathak LLP. Paul practices principally in the areas of corporate, securities, corporate finance, mergers and acquisitions and commercial law. He represents and provides sophisticated guidance to private and public corporate clients in a broad range of industries, including mining, technology, manufacturing, venture capital and merchant banking.

George Krieser​

Director

George Krieser founded Total Credit Recovery Limited (“TCR”) in 1980 and is the President and Chief Executive Officer. TCR is the largest 100% Canadian-owned and operated collection agency, solely collecting Canadian debt. George previously served as a Director of Universal Energy. He also served as a member of the board of directors of Baycrest Foundation and as a member of the fundraising committee for UJA Federation of Greater Toronto.
Gary Goodman​
Director
Gary Goodman is a Trustee and Chair of the Audit & Risk committee of Boardwalk Real Estate Investment Trust., a former Chairman of Huntingdon Capital Corp., trustee of Gazit America & Brightpath Early Learning, and is a member of the advisory boards of the Vision Funds. Gary was previously Executive Vice President of Reichmann International where he served as a senior financial executive and trusted advisor for over 30 years.

Chris Gower

Director

Chris Gower started his career in construction on the tools – framing houses, where he grew a deep appreciation for the trades. Prior to his current role as Chief Operating Officer, Buildings at PCL Construction (“PCL”), Chris held positions including construction risk manager, senior project manager, district manager and regional vice president. Throughout his more than 25 years at PCL, he has delivered iconic construction projects across Canada, Australia and the United States.

June Thomson

EVP, Sales, Marketing
& Business Development

June joined the Eddy team coming from Enercare after 10+ years in various roles, most recently as Vice President of the North American Builder Division. June has been in the HVAC industry for over 41 years, holding several roles throughout her career from Technician to Provincial Offences Officer.

Saj Khan

COO & President

Sajid Khan helped launch Eddy Solutions and has been in the role of Chief Operating Officer since inception. With more than 20 years of leadership and operational experience in the home services sector, Saj has held roles such as COO of Eco Energy Service, Vice President of Operations at both National Home Services and Universal Energy.

Boris Baril

CFO

With more than 25 years of financial experience, Boris has held both public and private company CFO roles; supported two (TSX listed) initial public offerings (IPOs), debt and equity capital raises, and M&A transactions. Boris graduated from York University and is a CPA, CA.

Mark Silver

CEO & Chairman

Mark L. Silver is President of Optus Capital Corporation. Mr. Silver has made significant real estate investments in both development stage and income producing properties in the residential, commercial and industrial sectors over his 35 year business career. Over the last 22 years, these investments have been made through his company, Optus Capital Corporation. Mr. Silver was a founding partner and Chief Executive Officer of Universal Energy which was sold in 2009 to Just Energy Group Inc. He co-founded Direct Energy Marketing and grew the company to over $1.3 billion in revenues before selling to Centrica PLC (also known as British Gas) in 2000.