Introducing the Asset Connect® Ecosystem: access to trusted risk technologies

As building owners and operators face growing pressure to improve resilience, reduce claims losses and better manage operational risk, access to trusted technology solutions has never been more important. Lockton is launching the Asset Connect® Ecosystem: a curated network of risk technology and industry partners that helps property owners and operators reduce the impact of key risks to building assets. The first partners in the Asset Connect Ecosystem will focus on escape-of-water loss, with further partners joining the Ecosystem to manage a variety of key building risks.

Rather than spending unnecessary time researching the market, comparing solutions, and navigating multiple providers, the Asset Connect Ecosystem provides clients and Lockton client servicing specialists direct access to our curated list of trusted risk technology solutions. The Ecosystem builds on the strength of our existing Asset Connect® device, which provides enhanced visibility, monitoring, and alerting across critical building systems.

About Asset Connect®

Many buildings still have very limited visibility into their building management system (BMS). To combat this, Asset Connect brings together existing operational data from multiple building technologies into a single platform. By connecting insights across building systems, the plug-and-play device helps property owners and operators better understand how their assets are performing and where operational risks may exist. All data is presented in a personalised dashboard, allowing sites, systems, and risks to be monitored and benchmarked, thereby enhancing the building risk presentation.

Why we created the Ecosystem

In recent years, there has been a heightened focus on the systems and processes buildings use to identify, monitor, and manage risk.

Successive years of record temperatures, growing regulatory expectations, ageing infrastructure, and increasing pressure to improve operational resilience and increase Net Operating Income have seen the focus on risk management rise rapidly up the boardroom agenda.

Operational incidents can create significant challenges for owners, asset managers and occupiers, including:

• Property damage and associated reinstatement costs

• Business and operational disruption

• Tenant dissatisfaction

• Increased alternative accommodation costs

• Reputational harm

• Increased future insurance costs and self-insured retentions

• Increased management time

Initial incidents often go unnoticed until significant damage has already occurred. Early detection, proactive monitoring, and risk mitigation technologies can therefore intercept possible issues, playing a critical role in proactive risk management, reducing loss costs, improving resilience, and supporting better-informed operational decision-making.

Access to trusted risk technologies

The Asset Connect Ecosystem launches with two leading leak detection partners, LAIIER and Watergate – proven solutions that reduce the likelihood and impact of escape-of-water incidents. Each solution has been chosen following extensive due diligence, market research, and pilot testing, to equip facility management teams with alerts to intercept a potential incident, avoiding large scale losses and significant business interruption.

The Ecosystem helps organisations:

• Identify incidents earlier

• Improve operational performance

• Reduce loss frequency and severity

• Drive more competitive insurance premiums

• Enhance portfolio resilience

• Support ESG objectives

• Mitigate increased utility costs

• Create better informed risk management decisions

We work closely with each partner to help clients maximise the value of their investment and strengthen their wider risk management strategy.

The challenge of escape-of-water

Escape-of-water accounted for almost 40% of all property claims across our UK and EU Real Estate portfolio over the past five years, making it the most significant risk facing our real estate clients today. Claims arising from escape of water occur nearly 18X more frequently than fire claims and 150X more frequently than flood claims. While fire and flood events can result in severe damage and high-value losses, water incidents are far more common, driving substantial claims costs and operational disruption.

The consequences of an escape-of-water incident extend far beyond the immediate costs of repairing damaged assets. Significant leaks can disrupt operations, leading to business interruption costs – including lost revenue and additional alternative accommodation expenses.

Owners and operators may also incur long-term reputational harm, particularly as building occupiers expect safe, resilient and well-managed environments – such as those in Purpose-Built Student Accommodation (PBSA) and living sector properties.

If unmanaged, persistent water loss can negatively impact sustainability performance, making it harder for property owners to meet their environmental, social, and governance (ESG) commitments, and inviting additional scrutiny from stakeholders concerning resource efficiency.

Our Ecosystem partners

LAIIER
LAIIER works closely with commercial property owners and-operators, insurers, facilities managers, and system integrators who are invested in building more sustainable, efficient, and safer spaces to work and live. LAIIER's mission is to lower leak-related costs, reduce or eliminate claims, and improve facility performance. LAIIER’s seamlessly integrated sensor technologies give stakeholders timely and critical insights into the condition and efficiency of their properties.

Watergate
Watergate’s innovative smart water system combines monitoring technology with automatic shut-off capabilities, enabling buildings to respond quickly when abnormal water flow patterns or leak events are detected. Where a significant leak is identified, Watergate’s proven technology can automatically isolate the water supply, helping to reduce the volume of water released and limiting the extent of resulting damage. The system helps to improve protection during out-of-hours periods, and reduce claims severity.

For more information about the Asset Connect ® Ecosystem, please reach out to a member of our team here.