Frontdoor, Inc. Signs Exclusive Agreement With Moen
June 25 2024 - 8:28AM
Business Wire
Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of
home 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 Flo as part of certain marketing programs with home
insurance providers. Shut-off valves are now required by selected
insurance providers in California and around the United States.
“Moen is a 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 most populous state. We look forward to
exploring additional opportunities with Moen in other states.”
“This program is designed to help 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 7. 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. Frontdoor is an app for
all things home repair and maintenance. The Unlimited offering
gives users unlimited video chats with Experts from a variety of
specialties, access to local, vetted Pros, exclusive pricing on new
name brand HVAC systems, and other benefits.
“If the Flo Shutoff detects a leak, customers can quickly get
help during normal business hours 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 Shutoff, go to Moen.com/Flo.
For information on partnering with Moen, email
Partnerships@moen.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.
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.
Forward Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on management’s current
expectations and beliefs, as well as a number of assumptions
concerning future events. These statements are subject to risks,
uncertainties, assumptions, and other important factors. Readers
are cautioned not to put undue reliance on such forward-looking
statements, because actual results may vary materially from those
expressed or implied. The reports filed by Frontdoor pursuant to
United States securities laws contain discussions of these risks
and uncertainties. Frontdoor assumes no obligation to, and
expressly disclaims any obligation to, update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Readers are advised to review
Frontdoor's filings with the United States Securities and Exchange
Commission (which are available on the SEC’s EDGAR database at
www.sec.gov and via Frontdoor’s
website at investors.frontdoorhome.com).
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version on businesswire.com: https://www.businesswire.com/news/home/20240625770671/en/
Investor Relations Matt Davis 901-701-5199 IR@frontdoorhome.com
Media Tom Collins 901-701-5198 MediaCenter@frontdoorhome.com
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