REG - Water Intelligence - Insurance National Account Win
RNS Number : 9979XWater Intelligence PLC10 May 2021
Water Intelligence plc
Insurance National Account Win
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 another insurance national account win - its third year-to-date.
Water-related claims are one of the largest sources of claims for the insurance market in the United States. Insurance companies value ALD's delivery of minimally-invasive water leak detection and repair solutions anywhere, anytime across the United States. Today's win is with one of the fastest growing national insurance carriers.
The Company's latest business-to-business account reinforces the sustainability of Water Intelligence's growth trajectory for its insurance channel. As discussed in recent trading updates, the business-to-business insurance channel grew 20% year-over-year for full year 2020 vs. 2019 and kicked-off this year with 19% growth for 1Q 2021 over 1Q 2020.
Executive Chairman, Dr. Patrick DeSouza commented: "We are appreciative of the recognition that we are gaining across the United States with homeowners and insurance companies. We will continue to build on our value proposition of minimally-invasive leak detection and repair and our reputation for excellence in delivering solutions across the United States. We seek to capture more and more of the $13 billion insurance market for water-related claims."
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
WH Ireland Limited - NOMAD & Broker
Tel: +44 (0)207 220 1666Adrian Hadden
James Sinclair-Ford
Matthew Chan
Dowgate Capital Ltd - Broker & Advisor
Stephen NorcrossTel: +44 (0)7920 599 793
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