Revolutionizing the Residential Water Protection Market


Water damage is the biggest risk facing homeowners today. In fact, water damage claims account for nearly 50% of all residential insurance claims in the Home Insurance market in Canada.
Protecting a home is not a new concept to homeowners, as smoke & carbon monoxide detectors and alarm systems are very common. But most homeowners may not realize that they are 12 times more likely to have a water damage claim than a fire, and three times more likely to have a water issue than a theft.
Each year in Canada, more than one billion is paid in insurance water damage claims to homeowners. What many homeowners do not realize is that often a water damage claim will not fully cover the cost of the necessary repairs, or the impact they’ll face with the strain and stress of a major unexpected/unplanned renovation project. Further, many insurance policies will not cover any water damage if the homeowner is away from the home for more than 72 hours.
While little can be done to protect a homeowner against overland flooding (which typically is not covered in a homeowner’s insurance policy), up to 93% of water damage can be avoided by an automatic water leak detection system. These types of leak detection systems are intelligent systems involving the Internet of Things.
By now, you’ve likely heard of the Internet of Things (in case you haven’t, here’s an article). The Internet of Things (IoT) is utilizes the Internet to create connections, so that users receive information through their mobile devices about everyday things like their homes and cars. Think Fitbit, Nest, or Amazon’s Echo/Alexa. The IoT revolution has begun, and as a result, end users are more connected than ever before.
By combining the IoT and the need for water management and mitigation, Canadian-owned Eddy Home has launched a water leak detection system that will identify immediately water issues or abnormalities, offering both a remote and automatic shut off. Homeowners are immediately contacted through their app when issues occur, as well as Eddy Home’s 24/7 backend monitoring centre. The system also helps families conserve water through tracking everyday water usage, creating fun challenges for families to educate on the importance of water conservation and to help promote positive behaviour.

The result? Water issues are stopped before they cost homeowners thousands.

A recent analysis tracked the water usage of four actual customers before and after Eddy Home’s product, the Eddy IQ was installed. All had saved between 10% and 37% on their water usage, saving them significantly. One customer with a large 10,000 square foot home in Toronto, saw a reduction in annual water usage from 519 m3 to 263 m3 – more than 256 m3 saved or more than $900 annually!
The insurance industry has taken note, and nearly all major insurance companies (such as Intact, Aviva, Northbridge, and State Farm) offer discounts of up to 15% for installing an Eddy IQ.
Turns out, the Internet of Things isn’t just revolutionizing the way we exercise or listen to music. It’s changing how we protect our homes with proactive, intelligent water management systems that substantially impact our bottom lines. How’s that for the future?
Founded in 2014, Eddy Home is an industry leader in leak protection and water visibility solutions. Our suite of smart products offer a comprehensive water management system for homeowners that protects, controls, and conserves. Our products have saved thousands of customers millions of litres of water by continuously monitoring water usage in their home, and if something unusual is detected, alerting them to the issue. To learn more, please visit us at or contact us at 1.877.388.3339.

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Paul Pathak​


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​


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​
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


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


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.