Security-as-a-Service provider Scout Security (ASX:SCT) has signed a master services agreement and statement of work with global insurance technology company Bolt Solutions, marking its entry into the high-growth insurtech sector.
Under the partnership, Scout will supply white-labelled water sensor kits through Bolt’s Prevention Technology program, initially deploying devices across US states, including California and Florida.
The kits will help policyholders detect leaks early, prevent costly water damage, and access significant insurance premium reductions.
An initial hardware order has been committed, with Scout set to receive a US$48,000 deposit in January, including prepayment for non-recurring engineering.
The program is expected to generate both hardware sales and recurring subscription revenue through ongoing monitoring and service fees.