North Olmsted, Ohio… Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home service warranties, today announced it has signed an exclusive agreement with Moen to install its Flo Smart Water Monitor and Shutoff, a water shut-off valve, for customers in California who purchase the device as part of certain marketing programs with home insurance providers. Shut-off valves are now required by selected insurance providers in California and across the United States.
“Moen is the top name in the industry, and we are super excited to work with such a great brand,” said Frontdoor, Inc. Chief Revenue Officer Kathy Collins. “With our extensive network of independent plumbing contractors in California, this agreement gives Frontdoor a new channel of distribution with significant revenue opportunities in the largest market in the nation. We look forward to exploring additional opportunities with Moen in other markets in other states around the country.”
“This program is designed to significantly reduce the number of insurance claims customers file related to catastrophic water damage because of residential leaks. Flo Smart Water Monitor and Shutoff devices offer a digitally driven and proactive approach to leak detection, with the ability to help reduce water damage claim frequency events by as much as 96%*,” said Jeff Barnes, vice president of business development for Moen Smart Water.
The agreement became effective June 7th. Once scheduling is fully underway, Collins anticipates Frontdoor will be performing thousands of installations per month.
Additionally, Moen Flo customers will receive a Frontdoor Unlimited membership free for a full year.
“If the Flo Smart Water Monitor and Shutoff detects a leak, customers can get help by video chatting with a Frontdoor plumbing expert, or if in-person help is needed, they can schedule service through Frontdoor’s extensive network of independent plumbing contractors in California,” Collins said.
For more information on Moen’s Flo Smart Water Monitor and Shutoff, go to Moen.com/Flo.
###
* Results from the 2020 LexisNexis Study can be found here.
ABOUT MOEN
Moen is the #1 consumer faucet brand in North America, offering a vast array of stylish and innovative kitchen and bath faucets, showerheads, accessories, bath safety products, kitchen sinks, garbage disposals, leak detection products and connected home offerings for residential applications that give consumers more power than ever before to understand and control the water that flows through their homes. These thoughtful designs deliver an exceptional user experience and elevate how people interact with water daily. In addition, Moen® Commercial offers superior-performing products that can deliver lower lifetime costs for today’s facilities. Moen is part of Fortune Brands Innovations, Inc. (NYSE: FBIN), a brand, innovation and channel leader focused on exciting, supercharged categories in the home products, security and commercial building markets. Moen anchors Water Innovations (WINN), which also includes several brands under the House of Rohl® including Perrin & Rowe®, ROHL®, Riobel®, Shaws® and Victoria + Albert®. Fortune Brands’ other brands include Fiberon® composite decking and railing products; Master Lock®, Yale® residential, August® and Sentry® Safe security products; LARSON® storm doors and Therma-Tru® entry door systems. For more information, please visit www.FBIN.com.
ABOUT FRONTDOOR, INC.
Frontdoor is reimagining how homeowners maintain and repair their most valuable asset – their home. As the parent company of two leading brands, we bring over 50 years of experience in providing our members with comprehensive options to protect their homes from costly and unexpected breakdowns through our extensive network of pre-qualified professional contractors. American Home Shield, the category leader in home service plans with approximately two million members, gives homeowners budget protection and convenience, covering up to 23 essential home systems and appliances. Frontdoor is a cutting edge, one-stop-app for home repair and maintenance. Enabled by our Streem technology, the app empowers homeowners by connecting them in real time through video chat with pre-qualified experts to diagnose and solve their problems. The Frontdoor app also offers homeowners a range of other benefits including DIY tips, discounts and more. For more information about American Home Shield and Frontdoor, please visit www.frontdoorhome.com.
Samantha Eastman or Emily Baker
Falls & Co.
(216) 696-0229
seastman@fallsandco.com
ebaker@fallsandco.com
INVESTOR CONTACT:
Leigh Avsec
(847) 484-4211
Investor.Questions@fbhs.com