(May 17, 2022) — Phoenix, AZ. OpenTech Alliance, the PropTech leader in the self storage industry, helped Devon Self Storage slash security incidents at Memphis facilities with INSOMNIAC® SmartEye. Devon turned to OpenTech to address their burglary concerns when claims data from Xercor reports revealed a string of break-ins at several of Devon’s Memphis, TN locations. After implementing OpenTech’s SmartEye security system, Xercor reported a 67-100% decrease in burglary claims at each of Devon’s four newly equipped Memphis facilities. Two facilities in particular, Winchester 6390 and Getwell, saw over $4,000 in claims savings a month.
Xercor President & COO Maureen Lee noticed one Devon location, in particular, had experienced 146 reported burglary claims in just 44 months — roughly 3.32 claims per month. While that number may not seem intimidating at first, those claims equaled over $255,000 in claims payouts alone — not to mention associated expenses like repairing hasps or doors, employee time spent communicating with upset customers, and more. Other locations in the area also suffered multiple break-ins, totaling over $230,000 in claims payouts.
Lee took these trends to Ken Nitzberg, President & CEO of Devon Self Storage. Not only did the data identify an opportunity to cut costs, but it also exposed a threat to Devon’s reputation within the community. Repeated burglaries can easily lead to small claims court issues regarding security. With 34-years built on being “in the business of offering peace-of-mind” to their self storage consumers, Devon took swift action to eliminate security concerns at these properties.
“Thanks to Xercor, we were able to identify the problem and take action to fix it,” said Nitzberg. “OpenTech’s SmartEye system has significantly improved the profitability and security of our Memphis locations. The relationship between Xercor and OpenTech serves as an excellent example of the way this industry works together for the benefit of the operator and the tenant.”
OpenTech’s SmartEye security monitoring system has helped Devon prevent security incidents at their Memphis properties before damage happens. With a combination of artificial intelligence and live monitoring, a virtual security team assesses activity at each property and intervenes when needed. The VST will notify tenants of closing hours, warn trespassers after-hours, and alert authorities when auditory intervention isn’t effective. Xercor has kept a steady pulse on those properties since the program’s implementation, and their data clearly depicts the value for Devon and its tenants alike.
“While Xercor takes pride in making tenants whole again after experiencing a loss,” said Lee, “ultimately, we strive to prevent future losses from happening altogether by identifying trends in data to support business operations.”
To learn more about SmartEye, contact OpenTech Alliance today.
About Xercor Insurance Services LLC
Xercor Insurance Services LLC is the premier tenant insurance services provider for the self storage industry. Created with both operator and tenant in mind, Xercor offers an industry-leading insurance program that provides operators protection from liability and tenants protection for their personal belongings should the unexpected occur. To learn more about Xercor’s comprehensive coverage options, visit www.xercor.com.
About OpenTech Alliance, Inc.
OpenTech Alliance, Inc. is the leading PropTech provider in the self storage industry. The company’s products and services include the INSOMNIAC® line of full-service kiosks, INSOMNIAC Live! call center solutions, INSOMNIAC CIA access control systems, Customer Acquisition Services, and the StorageTreasures.com online storage auctions website. OpenTech solutions are designed to improve the customer experience, reduce operating costs and increase revenues for self storage facilities. OpenTech Alliance, the OpenTech logo, and INSOMNIAC are trademarks of OpenTech Alliance, Inc. Other company and product names may be trademarks of their respective owners.