RCS - Ondo InsurTech PLC - Northumbrian Water to trial LeakBot

Ondo InsurTechAnnouncement

31/01/2025 07:00

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RNS Number : 3670V  Ondo InsurTech PLC  31 January 2025

31 January 2025

 

Ondo InsurTech Plc

("Ondo" or the "Company")

 

Northumbrian Water to trial LeakBot

following success of other Water Company activity

 

Ondo Insurtech (LSE: ONDO), a leading company in claims prevention technology
for home insurers, is pleased to announce an agreement with Northumbrian Water
Limited ("Northumbrian Water") to help drive water efficiency within their
area in the North East of England.

 

Northumbrian Water is the North East trading arm of Northumbrian Water Limited
- a member of Northumbrian Water Group.  Northumbrian Water provides water to
over 2.7 million residents in the North East of England.

 

Northumbrian Water will carry out an initial pilot by introducing LeakBot to
customers within their area, with the aim of validating the water waste
reduction results already seen by other water companies utilising LeakBot,
including Southern Water and Portsmouth Water.

 

LeakBot previously achieved a 60% reduction in water leaks within the
Portsmouth Water area, estimated to equate to 24 litres per customer per day,
or 67% of the 36 litres per day Ofwat regulatory target for reduction of
customer-side water leakage.

 

More recently, Southern Water announced a potential saving of 9,200 megalitres
per year (more than 3,600 Olympic swimming pools) if they were to roll out
LeakBot across homes in the Southern Water region, based on the findings from
their initial activity which started last year.

 

Based on the Portsmouth Water trial findings, if LeakBot were rolled out to
all Northumbrian Water customers, an estimated 3,300 megalitres of water could
be saved each year - enough water to fill 1,300 Olympic swimming pools.

 

Dawn Creighton, Head of Customer Strategy and Experience, at Northumbrian
Water, said: "At Northumbrian Water, we pride ourselves on looking for
innovative solutions to solve the challenges we face around water scarcity. We
have been impressed by the results seen so far by LeakBot and hope the trial
proves we can have a real impact on water usage within a customer's home,
whilst also having a positive impact on customer satisfaction. If successful,
there could be an opportunity to roll out LeakBot to our 2.7 million customers
from 2025."

 

Craig Foster, Ondo CEO, says: "We're seeing increasing interest from water
companies who have seen the positive impact LeakBot can have on reducing leaks
and water wastage within a customer's home. We have a proposition which could
scale quickly and really do something positive for both households and the
environment too. We're looking forward to completing this pilot and discussing
the longer-term roll out opportunity with Northumbrian and other water
companies."

Enquiries

 

For further information, please visit (http://www.ondoplc.com) www.ondoplc.com
(http://www.ondoplc.com)   or contact the following:

 

 Ondo InsurTech Plc                 Craig Foster, CEO       +44 (0) 800 783 9866

                                    Kevin Withington, CFO
 Dowgate Capital Ltd                Russell Cook            +44 (0) 20 3903 7715

 (Broker & Financial Advisor)       Nick Chambers

                                    Charlie Hall
 Cassiopeia Services Ltd            Stefania Barbaglio      +44 (0) 7949 690338

 (PR & Investor Relations)

 

Northumbrian Water

 

Northumbrian Water Limited is a water company in the United Kingdom, providing
mains water and sewerage services in the English counties of Northumberland,
Tyne and Wear, Durham and parts of North Yorkshire, and also supplying water
as Essex and Suffolk Water.

For more information, visit nwg.co.uk (http://www.nwg.co.uk/)

 

 

About Ondo InsurTech PLC

 

Ondo is a world leading provider of claims prevention technology for home
insurers.  Ondo's focus is on the global scale-up of LeakBot - claims
prevention technology that prevents water damage claims in houses. Water
damage is the single biggest cause of home insurance claims, accounting for
$17bn of claims every year in the USA and UK combined. LeakBot is a patented
self-install solution that connects to the home wireless network and, if it
detects a leak, notifies the customer via the LeakBot mobile app and provides
access to a team of expert LeakBot engineers to 'find and fix' the problem.
Independent research by Consumer Intelligence found LeakBot can reduce the
cost of water damage claims by up to 70%.

 

LeakBot partners with 21 insurance carriers - including Nationwide, Admiral,
Direct Line Group, Hiscox, Länsförsäkringar and TopDanmark - both in Europe
and the USA.

 

Ondo holds the coveted London Stock Exchange Green Economy Mark awarded to
companies who derive the majority of their income from Green activities.

 

For more information, visit www.ondoplc.com (http://www.ondoplc.com/)

 

 

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