RCS - Ondo InsurTech PLC - Ondo Shortlisted for 2023 Breakthrough Award

Ondo InsurTechAnnouncement

29/01/2024 07:00

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RNS Number : 1143B  Ondo InsurTech PLC  29 January 2024

29 January 2024

 

Ondo Shortlisted for Breakthrough of the Year Award at PLC Awards 2023

Ondo Insurtech (LSE: ONDO), a leading company in claims prevention technology
for home insurers, is delighted to announce its shortlisting for the
Breakthrough of the Year Award at the upcoming PLC Awards 2023.

 

PLC Awards, established in 1987 and sponsored by BDO in association with the
London Stock Exchange, stand as a beacon in recognizing outstanding
achievements within the Main Market of the London Stock Exchange, the revered
"plc club." Scheduled annually in March, this event highlights excellence
across various categories with a particular emphasis on Environmental, Social,
and Governance (ESG) considerations, reflecting the dynamic and evolving
landscape of responsible corporate citizenship.

 

Ondo's nomination in the Breakthrough of the Year category recognises its
pioneering efforts in the insurtech sector. Notably, its proprietary leak
detection product, Leakbot, which leads the charge in proactive claims
prevention. The Company's dedication to innovation, transformative solutions,
and sustainable practices align with the demanding ESG criteria championed by
the PLC Awards, as well as the diverse needs of customers and homeowners
committed to conservation.

 

In 2022, Ondo received the London Stock Exchange's Green Economy Mark, a
recognition of its significant contribution to the global green economy
through the water-saving benefits delivered by Ondo's LeakBot product.

 

Craig Foster, CEO of Ondo InsurTech, commented: "This nomination underscores
our pursuit of innovation and our commitment to delivering groundbreaking tech
solutions to solve real-world problems. Our focus on responsible and
sustainable business practices is unwavering."

 

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

 

Enquiries:

 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)

About Ondo InsurTech PLC

 

Ondo InsurTech Plc 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 70%.

 

LeakBot partners with 15 insurance carriers - including Nationwide, Admiral,
Direct Line Group, Hiscox, Länsförsäkringar and TopDanmark - both in Europe
and the USA.

 

In March 2022 LeakBot became the first InsurTech to IPO in London, as Ondo
InsurTech Plc

(LSE:ONDO) and holds the coveted London Stock Exchange Green Economy Mark
awarded to companies who derive the majority of their income from Green
activities.

 

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