With Smart Devices and Pro Network, Resideo Could be AAA for the Home – CEPRO – CEPro

As I do every December, I was writing about this years mergers, acquisitions, IPOs and other equity events in the home-technology channel you know, just a quick paragraph on each (coming soon). When I got to Resideo, though, the little blurb I intended to write turned out to be more like a novel.

So here it is in a longer form, starting with the conclusion:Resideo could have the first viable business for comprehensive remotemonitoring and home services basically doing for all home systems what itsdone for security. Who could have fathomed this proposition even a year ago?

We envision a future where our homeanticipates problems, takes appropriate action and connects to a qualifiedprofessional to correct the issue, said Alice DeBiasio, Resideo VP and GM ofGlobal Pros Security, in an August 2019 interviewwith the Electronic Security Association.

Resideo (REZI) is the security, home automation, HVAC and building-controls group that spun off from Honeywell in late 2018, forming a new $5 billion (revenues) public company. Free at last from its $40 billion parent company, Resideo quickly acquired three niche businesses that Honeywell probably wouldnt make time to sneeze at, much less acquire in rapid succession.

The three acquisitions were LifeWhere,WhiskerLabs (one division) and BuoyLabs three relative startups with technology to monitor and react to variousconditions in the home. LifeWhere measures the performance of home appliancesand warns of potential breakdowns. The unit acquired from Whisker Labs learnsthe heating and cooling patterns of a home, mashes it up with outdoor weatherdata, and auto-adjusts the indoor temperature for energy management andcomfort. Buoy Labs tracks the flow of water in a home, issuing alerts and/orcutting off the water supply if anomalies are detected.

Traditional providers of insurance, home warranties, energy, security, and smart-home services will be playing catch-up.

Each solution comes with a recurring fee, which is easilyjustified: Just imagine the expense and heartbreak of doing without theprotection! Non-subscribers could face mold and flooding (from slow and fastwater leaks, respectively), inefficient heating and cooling, and the prematuredemise of unchecked appliances.

In theory, Resideo could prevent all these calamities or atleast mitigate damages, just as the company does today for other threats to peopleand property fire, gas leaks, water leaks, break-ins, vandalism, personalemergencies, and more.

Resideo could wrap the new protections in a bundle that includes existing security and home-automation services. Ultimately, the company could own the home-monitoring and -services category like no one else can, at least not anytime soon. Traditional providers of insurance, home warranties, energy, security, and smart-home services will be playing catch-up. Theyre not even close.

Unlike other would-be home-protection companies, Resideo already has the infrastructure to monitor consumers, their homes, and their things and to respond accordingly:

Looking at the capabilities and strengths above,we can imagine Resideo incorporating LifeWhere, Whisker and Buoy pretty quicklyinto their technological platforms and business models at least much moreeasily than perhaps any other operator.

As for #6 above: We believe there areadded monitoring opportunities for our dealers who are interested in theseadded elements of home protection, beyond just break-ins or fires, said AliceDeBiasio, Resideo VP and GM of Global Pros Security, in an August 2019 interviewwith the Electronic Security Association.

She adds, [A]ll these acquisitions are going to position Resideo and our thousands of professionals as the experts in home protection.

Resideo is in the process of revamping its user app, as well as its dealer portal, to incorporate all the new devices and conditions the company can monitor.

For now, the new Resideo Home app exposes the Buoy Whole Home Water Controller and Buoy Water Leak Detectors. From there, users can access Buoys free features, or upgrade to premium services like advanced automatic water shutoff and leak alerts, Resideo explains.

We should expect the same fremium model to apply to other Resideo offerings all of which eventually will be part of the new app. The company doesnt expect to add its legacy security capability to the app until the end of 2020.

Resideo introduced the new app at a Dec. 4, 2019, event in its home town of Austin, Texas, explaining how it will make whole-home monitoring possible for the four critical networks of the home water, air, energy and security.

Resideo CEO Mike Nefkens said, We do not believe that the critical systems of the home should be a do-it-yourself adventure. Through the new Resideo Home app, were going to bring the world of proactive, professional monitoring to the entire home, helping better protect the people inside and mitigating problems before they arise.

The proactive element is the new thing for Resideo. Its current security and home-automation systems are pretty smart today, but dont provide much in the way of AI and predictive analytics. Resideo service providers tend to react to emergencies after the fact, rather than anticipate them through smart devices on the premises and analytics in the cloud.

All three recent acquisitions Whisker, Buoy and LifeWhere bring predictive analytics to the Resideo ecosystem, exposing some amount of information for self-monitoring and reserving some of the smarts for fee-based services.

Resideo also (re)introduced an indoor air quality monitor to its smart ecosystem that will pair with the app to let homeowners and their home pros see real-time carbon dioxide levels, particles, chemicals and humidity to understand the air inside and do something about it.

Meanwhile, Resideo is working on its next-generation smart thermostat that will integrate with the Resideo Home app, and serve as a dashboard for all the new and legacy things Resideo monitors.

For several years, the insurance companies have been eyeing IoT as a way to glean more data from the home and its occupants, and provide more services to the insured. Theyre struggling.

The Holy Grail would be something like a Triple-A for the home, much like we have for cars. Everyone has AAA, because its silly not to. The auto insurance costs just $100 or $200 per year, and theyre everywhere and anywhere in case of an emergency or inconvenience. Towing, changing a tire, jumping a car, adding gas these and similar services are free. If you need anything more, you pay extra.

Its relatively simple to apply this kind of service to automobiles because independent car-towing trucks and mechanics are everywhere the original Ubers of our times.

The home is harder because there are so many specialized systems to master; however, with a growing roster of smart devices to monitor these systems, a cloud service to make sense of the data, apps and dashboards for self- and pro-monitoring, and thousands of feet on the street for service and support (about 110,000), Resideo just might be able to pull it off.

How much would you pay for AAA in the home? Put me down for about $400 per year.

PRESS RELEASE DEC. 4, 2019

AUSTIN, Texas,Dec. 4, 2019 Resideo Technologies, Inc. (NYSE: REZI), today announcedthe launch of the Resideo Home app, which will make whole-home monitoringpossible for the four critical networks of the home water, air, energy andsecurity. At an event for industry professionals and partners at the historicAustin City Limits Live at the Moody Theatre in Austin, the company showcasedits vision for the future of the smart home and upcoming subscription servicesmade possible by the new app. Through these services, homeowners will easilyconnect with professionals who can help ensure home networks are operatingefficiently and can intervene to help prevent costly damages, like water leaksand major appliance failures.

At Resideo,were committed to helping homeowners make sense of their homes, and in theprocess, help professionals modernize and expand their businesses while givinga better experience to customers, said Mike Nefkens, president and CEO ofResideo. We do not believe that the critical systems of the home should be ado-it-yourself adventure. Through the new Resideo Home app, were going tobring the world of proactive, professional monitoring to the entire home,helping better protect the people inside and mitigating problems before theyarise.

Resideo Homeand Resideo Pro Apps

Designed toprovide homeowners with a simple, unified platform that connects and managesthe home, Resideo will enable the migration of the companys 6.5 million connected customers,currently spread out among its existing apps, into the Resideo Home app throughout2020. Starting today, users of Resideos recently launched BuoyWhole Home Water Controllerand BuoyWater Leak Detectors can begin using the new app and access its free features,or upgrade to premium services like advanced automatic water shutoff and leakalerts. In the coming months, Resideo will integrate air products, such as theT Series line of smart thermostats, into the app. By the end of 2020, the appwill support Resideo whole-home security systems as well.

Unlike other smart-home apps that merely control gadgets, theResideo Home app looks at the entire home by offeringa glimpse into howthe air, water, security and energy systems are performing. The bright andvisually rich user experienceoffers insights through analytics that willhelp the homeowner identify energy savings, water usage and other tips overtime.

A professionalversion of the app, Resideo Pro, will provide professionals with installationtools, help them better service customers through account management andservice calls, and provide access to new business opportunities.

The ResideoHome and Resideo Pro apps are available now in the iOS and Androidapp stores.

NewWhole-Home Services

Resideo alsounveiled its new portfolio of connected, whole-home monitoring solutions thatwill be accessible through the app. Approximately 25% of homes in the UnitedStates have professionally monitored security. In a first for the industry, thenew subscription services from Resideo extend professional monitoring to theother critical networks of the home. Resideos new subscription services will helppros and homeowners use the data already being produced by the critical systemsof the home in ways that make the home work better and more efficiently.

Were givingthe entire home a pulse to help both homeowners and the trade professionalssave time and resources, said Niccolo de Masi, chief innovation officer andpresident of Products & Solutions, Resideo. For most people, their home istheir largest financial investment where they live with their loved ones andkeep their most precious possessions. We are proud to bring this much-neededenhanced protection to the home.

New Toolsand Services for Professionals

Resideo also announced a new digital experience that can help its network of 110,000 trade professionals and their 1 million technicians build business for the future, simplify operations and strengthen relationships with homeowners. The Resideo Pro Portal offers a single destination for product information, product support, access to services and tools to promote and drive leads. A new training and loyalty program called Resideo Pro PERKS launches in January 2020.

Through the ProPERKS program, pros and distributors will be able to access a tiered system ofbenefits, including strategic partnerships with other pros in Resideos networkto take advantage of new business opportunities across the homes criticalnetworks, new marketing tools to sell smart home solutions, and new videocourses to become experts on the latest technologies.

Resideosvalue proposition is firmly grounded in the belief that DIY companies aresimply not equipped to address the installation and integration challenges dueto the vast number of smart-home devices on the market, as well as lacking theknow-how that local contractors have, said Mark Vena, senior smart homeanalyst, Moor Insights & Strategy. In addition, to manage critical systemsin the home like air conditioning, heating, water management and energyutilization, advanced technical training and professional-grade equipment isrequired two things the average consumer or the DIY companies dont possess.

NextGeneration Comfort Platform

Resideo also unveiled concepts for its next-generation smart thermostat it will develop in partnership with professional contractors. Much more than a thermostat, the device will fully integrate with the Resideo Home app, providing insight into the four critical networks and access to subscription services through on-the-wall control with a modern user interface.

The company plans to launch alpha and beta test programs with professionals in 2020.

We have anenormous advantage to deliver whole-home monitoring because of our presence in150 million homes and decades of experience, Nefkens said. Our professionalnetwork of suppliers, dealers, contractors and installers ensures the job isdone right, that dedicated support is always within reach, and will lay thegroundwork to bring the next era of the connected home to life.

AboutResideo

Resideo is a leading global provider of critical comfort and security solutions primarily in residential environments and distributor of low-voltage electronic and security products. Building on a 130-year heritage, Resideo has a presence in more than 150 million homes, with 15 million systems installed in homes each year. We continue to serve more than 110,000 contractors through leading distributors, including our ADI Global Distribution business, which exports to more than 100 countries from more than 200 stocking locations around the world. Resideo is a $4.8 billion company with approximately 13,000 global employees.

View post:
With Smart Devices and Pro Network, Resideo Could be AAA for the Home - CEPRO - CEPro