REG - Ondo InsurTech PLC - Alm. Brand Group to introduce LeakBot

Ondo InsurTechAnnouncement

03/12/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241203:nRSC5042Oa&default-theme=true

RNS Number : 5042O  Ondo InsurTech PLC  03 December 2024

3 December 2024

 

Ondo InsurTech Plc

("Ondo" or "the Company")

 

Alm. Brand Group, one of the largest non-life insurers in Denmark, to
introduce LeakBot

 

Ondo Insurtech (LSE: ONDO), a leading company in claims prevention technology
for home insurers, is pleased to announce an agreement with Alm. Brand Group
to introduce LeakBot to their customers.

 

The Alm. Brand Group is a multi-brand Danish insurance group focused on
non-life insurance. With more than 700,000 customers combined, they are one of
Denmark's largest non-life insurance companies.

 

The agreement allows LeakBots to be ordered from any of the Alm. Brand Group
brands, including Alm. Brand, Codan, Privatsikring and Erhvervssikring. An
initial LeakBot deployment to Alm. Brand customers is due to be completed in
January. Alm Brand will monitor the impact of LeakBot, including on claims
savings, customer satisfaction and customer loyalty, with a view of rolling
out across their customer base from summer 2025.

 

Anne Mette Toftegaard, Alm. Brand Group Deputy CEO, says: "At Alm. Brand Group
we want to set the standard in non-life insurance, and we are keenly aware of
the role we play and the responsibility we have in promoting claims
prevention. We're excited to partner with LeakBot to increase customer
awareness of the potential risk of water leaks and to prevent the unnecessary
cost, resources, and inconvenience of an escape of water claim."

 

Craig Foster, Ondo CEO, says: "Denmark is a strategically chosen territory for
LeakBot expansion and this agreement with Alm. Brand Group signifies a great
opportunity to support growth within this region. We continue to see very
positive results in Denmark, with expansions from other insurers recently
announced, and we look forward to working with Alm. Brand Group to prevent
claims and to also positively impact their customer experience."

 

 

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)

 

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/)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGRKLLFBZLLLFBQ