The term ‘shared value’ – where economic opportunity has social benefit – has been around for at least a decade, but now some insurance companies are seeing the benefit, which is a great opportunity for socially beneficial businesses like Stormseal, says owner and inventor Matt Lennox.
Shared value is a system that brings good business and corporate social responsibility together and where the economic benefit also provides societal benefit.
“I always envisioned Stormseal to be a shared value product because I didn’t invent it just to develop a business and provide a product, I wanted people to have better choices, choices that not only benefit their family, but their community too,” he said.
Stormseal is a patented product that heat seals a roof or wall with a material that is tough as well as hail-, wind- and storm-proof, and can stay put for up to a year. Unlike tarps, which numbers show fly off an average of six times, letting in more damaging wind and rain, while people wait for their insurance company to fix their home.
“I’m a contractor and know that tarps fly off continually during storm season, causing more stress and grief to people with storm devastated homes. That’s why I invented Stormseal to provide another alternative - an alternative that allows a family to stay living in their home with a temporary roof or wall that won’t leak or fly away.”
Insurance companies providing their clients a method of being able to stay in their home while awaiting repairs and not having them under a leaking tarp, is a perfect fit with the ‘shared value’ concept says Lennox.
“Stormseal not only provides security for families it allows insurance companies to provide the best system for their client; it saves them more claims when a tarp flies off and causes more damage. It also provides contractors trained to fit Stormseal the opportunity to be involved in a shared value system,” he said.
“Contractor training only takes a day and once trained they have access to the patented materials and tools, they don’t just have to wait for storm season to use it, because the product can be used during a construction process or for other projects. Our training and product also allows a contractor to offer a more diverse service to his or her customers, especially at storm time when many are in need. It’s really is a perfect storm in itself!” concluded Lennox.