Neos

Neos is a connected-home insurance offering which uses technology to help prevent situations which could result in claims. Policyholders are provided with various smart sensors, including motion and leak sensors, indoor cameras and window sensors, which customers can monitor via their smartphone app. The app can also alert users to issues, prompting them to take preventative action - such as turning off their water supply or contacting an emergency service - before things get worse.

Neos’ technology can offer the potential for inferences to be made from independent, unrelated events. Take, for example, the detection of running water and the knowledge that no-one is present in the house for a long period of time. Separately, neither pose a risk, but, when combined, the results could end in significant flood damage. Neos is developing intelligent systems to detect and counteract such risks.

Founded in 2016, Neos has received investment from ex-Ageas CEO Barry Smith, Munich Re/HSB Ventures and even former England football star Gary Lineker. The venture has partnerships with Aviva, Zoopla, Munich Re and Hiscox.

Led by former RSA and AXA Director Matt Poll, they were shortlisted for the Insurance Start-up of the Year award at the British Insurance Awards in early 2018. In the same year they announced a partnership with HomeServe Labs in order to add their multi-award-winning LeakBot to its smart-home package, as well as Wyze, who develop cheap but highly effective smart security cameras.

In November 2018, Aviva had agreed to acquire a majority stake in Neos and the transaction is expected to complete in the first quarter of 2019.

In 2019 Neos announced they had sold close to 20,000 SmartCams on Amazon Prime Day. CEO Matt Poll announced in July the same year that, since launch in January, Neos had sold a total of 75,000 SmartCams, with the aim of doubling this number by the end of the year.

As of February 2020 Neos' connected home insurance products are to be distributed under Aviva's brand, rather than its own, as the insurtech turns its focus to technology. In an announcement by Matt Poll, Neos is undertaking 'significant' growth plans, particularly in the US and Europe, after reaching 150k in customer acquisitions in December 2019.

In 2021 Aviva sold its share in Neos to Sky UK for an undisclosed amount.