REG - Ondo InsurTech PLC - Contract announcement

Ondo InsurTechAnnouncement

21/02/2024 07:00

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RNS Number : 8324D  Ondo InsurTech PLC  21 February 2024

21 February 2023

 

Ondo InsurTech Plc

("Ondo" or the "Company")

 

Contract announcement

 

Selective Insurance Group sign contract to offer LeakBot to eligible Homeowner
Policyholders in the United States

 

Ondo InsurTech Plc (LSE: ONDO), the London-listed leader in water damage
claims prevention technology for home insurers, is pleased to announce that it
has signed an agreement with Selective Insurance Group ("Selective") the
US-based Property and Casualty carrier for Selective to offer LeakBot to its
eligible homeowners policyholders.

 

Craig Foster, Ondo CEO, said: "We are pleased to add another well-known US
insurer to our list of partners and we share the same ambitions and
aspirations as Selective - to use technology to protect the homes of families
and reduce the risk of property water damage."

 

Allen Anderson, Senior Vice President, Personal Lines, Selective stated: "We
provide customized risk management solutions to help serve our customers'
unique needs and actively seek innovations that help them mitigate risk.
LeakBot's innovative technology can help our customers reduce the risk of
water-related property damage".

 

 

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
 Dowgate Capital Ltd                Russell Cook        +44 (0) 20 3903 7715

 (Broker & Financial Advisor)       Nick Chambers
 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.

 

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

 

 

About Selective Insurance

 

Selective Insurance Group, Inc. (Nasdaq: SIGI) is a holding company for 10
property and casualty insurance companies rated "A+" (Superior) by AM Best.
Through independent agents, the insurance companies offer standard and
specialty insurance for commercial and personal risks and flood insurance
through the National Flood Insurance Program's Write Your Own Program.
Selective's unique position as both a leading insurance group and an employer
of choice is recognized in a wide variety of awards and honors, including
listing in Forbes Best Midsize Employers in 2023 and certification as a Great
Place to Work® in 2023 for the fourth consecutive year. For more information
about Selective, visit www.Selective.com
(https://c212.net/c/link/?t=0&l=en&o=3987264-1&h=3040799399&u=http%3A%2F%2Fwww.selective.com%2F&a=www.Selective.com)
.

 

 

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