TelTeck Solutions proudly announced the introduction of their groundbreaking Water Alarm Monitoring System at a press conference held in Montreal yesterday. This one-of-a-kind product is the first of its genre and addresses the worldwide market need for accidental flood damage control directly associated with faulty water pipes. The unveiling of this product should be another push forward for TelTeck Solutions as they continue to make a name for themselves in the telematics industry.
The new Water Alarm Monitoring System, WAMS, is designed to constantly monitor the water displacement in pipes that are outfitted with the equipment. The results are not realized until potential water leakages occur, in which case the system is alarmed and capable of shutting off the affected pipes. This creates the potential for tens if not hundreds of thousands of dollars in savings. One estimate puts the average water-leak insurance claim between $30,000 and $40,000 and up to $90,000 to $100,000. That estimate does not take into account the time lost to fix the damage caused.
The Water Alarm Monitoring System will be marketed globally and carry a one- time installation fee in addition to a monthly recurring fee. The recurring monthly revenue is projected to be in the multi-millions in the not too distant future. The WAMS system is expected to make TelTeck Solutions the preferred provider of telematics solutions for water damage prevention.
TelTeck Solution expects that insurance companies will quickly realize it is much cheaper to monitor and prevent water damage than pay out on water-damage claims to businesses and residential customers. This will cause these companies to suggest, if not actually mandate, the usage of the WAMS system in their client’s facilities. The insurance industry pays out billions of dollars annually in claims for accidental water damage which could have been prevented if clients would have been using the WAMS product.
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