Consumer-focused Internet of Things platform, Pepper, and property InsurTech, Notion, announced that they have combined to create an IoT and smart home platform business that will offer insurance carriers customized and connected services in the InsurTech and IoT industries. Financial terms of the transactions were not disclosed.

Pepper enables businesses globally to build and monetize secure connected devices and services to consumers. Notion is a do it yourself smart property monitoring sensor system and app to enable home and small business owners to monitor and reduce loss from property damages. Comcast, the previous owner of Notion, has made an investment in the partnership.

Together, Pepper and Notion aim to provide an opportunity for insurance carriers to access high growth markets and evolve from legacy business models to an approach that protects and prevents loss, according to a Pepper press release.

“We believe connected insurance tech is the next frontier of innovation in consumer IoT,” said Pepper CEO Scott Ford in the release. “Combining Notion’s leading smart property monitoring sensor system with Pepper’s full-featured platform and service offerings will provide insurance carriers a customized suite of connected solutions through a seamless white-label approach. This acquisition will allow us to leverage Notion’s leadership as an InsurTech solution supplier while expanding the offering to include popular smart home and security services.”

Pepper-powered services will allow carriers to access data through its consumer IoT platform. The data generated through these programs will be controlled and owned by the carrier and its customers.

“Partnering with a trusted, next-generation consumer IoT platform like Pepper aligns perfectly with Notion’s mission to deliver innovative, smart insurance and home security offerings,” said Thomas Fad, vice president and general manager of Notion, in the release. “By joining Pepper, we will be able to further accelerate in a high-growth market and expand into new product offerings, all while continuing to deliver the best in InsurTech for our customers.”

Source: Pepper