RCS - Water Intelligence - National Insurance Wins

Water IntelligenceAnnouncement

01/02/2024 07:15

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RNS Number : 6145B  Water Intelligence PLC  01 February 2024

 

Two National Insurance Wins To Launch 2024 and Notice of FY 2023 Trading
Update

 

Water Intelligence plc is pleased to announce that since the beginning of 2024
it has signed two national contracts, which launch on 1 February, between its
American Leak Detection (ALD) subsidiary and top-tier national insurance
companies in the United States. ALD provides insurance companies and their
loss adjusters with a trusted solutions partner with operational coverage
across the United States.  ALD uses its proprietary technologies to pinpoint
water leaks and minimize collateral damage claims for residential and property
management end-users. These contracts reinforce ALD's brand leadership in
providing solutions for water-related claims, which is one of the largest
source of claims in the US home insurance market.

 

One contract is a multi-year expansion of an existing national contract which
includes both a price increase for ALD's value-add service offerings and the
provision of automated data analysis from the Group's Salesforce.com customer
management implementation. With the addition of such data analysis from its
secure cloud-based environment, ALD is uniquely positioned to provide
significant value to insurers across the United States.

 

The other contract is a new national contract with one of the leaders in the
high-end residential market.  ALD is uniquely positioned to deliver custom
results given its minimally-invasive approach to pinpointing and repairing
water leaks.  For this segment of the market, ALD will not only deliver water
and wastewater solutions and data regarding its premium services but also
follow-on products for the smart home via its video ecommerce applications.

 

Notice of Full Year 2023 Trading Update

 

The Group will release a Full Year 2023 Trading Update during the week of
February 12.

 

Executive Chairman, Patrick DeSouza commented: "We are delighted to kick-off
2024 in strong fashion and to reap the benefits of prior technology
investments that we have made in systems, proprietary diagnostic tools and
follow-on offerings.  We have a large addressable market to capture."

 

Enquiries:

 Water Intelligence plc                         Tel: +1 203 654 5426

 Patrick DeSouza, Executive Chairman
 WH Ireland Limited - NOMAD & Joint Broker      Tel: +44 (0)20 7220 1666

 Hugh Morgan

 James Bavister
 RBC Capital Markets - Joint Broker             Tel: +44 (0)20 7653 4000
 Rupert Walford

 Elizabeth Evans

 Daniel Saveski
 Dowgate Capital Ltd - Joint Broker                                   Tel:  +44 (0)20 3903 7715

Stephen Norcross

 

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