REG - Water Intelligence - Two Insurance National Account Wins

Water IntelligenceAnnouncement

01/03/2021 07:01

RNS Number : 6038Q
  
Water Intelligence PLC
  
01 March 2021
  
 

Water Intelligence plc
Two Insurance National Account Wins
 
Water Intelligence plc (AIM: WATR.L) ("Water Intelligence" or "Company"), a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water is pleased to announce two insurance national account wins.  First, the Company is pleased to have signed and launched another formal national contract between its American Leak Detection ("ALD") subsidiary and a leading insurance company in the United States.  The Company also announces the broadening of an existing national account both to add repair solutions and to create a multi-year framework.
Water-related claims are one of the largest sources of claims for the insurance market in the United States. Accordingly, market demand for ALD's precision leak detection and repair solutions is expected to increase further, particularly in the aftermath of extreme weather conditions in the southern part of the United States during February, especially Texas and Oklahoma.  Insurance companies value ALD's delivery of minimally-invasive water leak detection and repair solutions anywhere, anytime across the United States.
Today's two wins reinforce the momentum gained during 2020 with respect to the ALD's national account channel.  As discussed in February's 2020 Year-end Trading Update, despite Covid, the Company's insurance channel grew 20% year over year and added three national accounts during 2H 2020.  
Executive Chairman, Dr. Patrick DeSouza commented: "Our two insurance national account wins open 2021 in strong fashion, picking up where we left-off after outstanding results during 2020. We take special pride in delivering minimally-invasive water and wastewater infrastructure solutions to help homeowners and businesses face the aftermath of this winter's extreme weather in the US.  We hope to lead private sector efforts to advance water-related solutions for the Green Economy."
 
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014
Enquiries:




Water Intelligence plc


 




Patrick DeSouza, Executive Chairman


Tel: +1 203 654 5426




Adrian Hargrave, VP Corporate Development
 


+44 (0)7775 701 838




WH Ireland Limited - NOMAD & Broker


Tel: +44 (0)207 220 1666




Adrian Hadden


 




James Sinclair-Ford


 


 




Matthew Chan
Dowgate Capital Ltd - Broker & Advisor   

Stephen Norcross     


Tel:  +44 (0)7920 599 793
 


 



 
 
 
 
 



 

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