6 June
2024
Ondo InsurTech Plc ("Ondo" or "the
Company")
Ageas UK to trial
LeakBot
Ondo Insurtech (LSE: ONDO),
a leading company in claims prevention technology
for home insurers, is pleased to announce an agreement
with personal lines insurer Ageas UK to introduce LeakBot Limited
(LeakBot) to their customers.
Activity is due to begin this month, when Ageas
UK, in conjunction with Ondo, will offer LeakBot smart water leak
detectors to Ageas employees and customers of the Ageas owned Rias
brand. Under this 12-month trial, LeakBot detectors and repairs
will be provided for free to these customers. Ageas will monitor
the number of damage-causing leaks with the aim of minimising the
impact on customers and simplifying their journey when they have
cause for a claim.
Stephen
Linklater, Ageas Claims Director said: "We're
pleased to partner with LeakBot as another way of helping our
customers to take prompt, effective action to protect their homes
from unexpected events like burst pipes. Not only will early
detection of a leak reduce the cost of a claim, but it will also
minimise the devastating impact that a prolonged leak can have on a
customer's home."
Craig Foster,
Ondo CEO, says: "The activity with Ageas
signifies another step into mass market insurance within the UK.
With growing costs and increasing customer expectations, LeakBot
offers the opportunity for insurers to introduce an innovative
solution to prevent claims whilst also positively impacting
customer experience. We look forward to working with Ageas on this
activity and going forward."
Enquiries
For further information, please visit www.ondoplc.com or
contact the following:
|
Ondo InsurTech Plc
|
Craig Foster, CEO
Kevin Withington, CFO
|
+44 (0) 800 783 9866
|
|
Dowgate Capital Ltd
(Broker & Financial Advisor)
|
Russell Cook
Nick Chambers
Charlie Hall
|
+44 (0) 20 3903 7715
|
|
Cassiopeia Services Ltd
(PR & Investor Relations)
|
Stefania Barbaglio
|
+44 (0) 7949 690338
|
About
Ageas
Ageas is one of the largest
personal lines insurers in the United Kingdom, protecting the needs
of over four million customers. It offers car and home insurance
through electronically traded brokers and intermediary partners and
was named Personal Lines Insurer of the Year at the 2021, 2022 and
2023 British Insurance Awards, as well as the 2021 and 2023
Insurance Times Awards. The insurer has achieved the Institute of
Customer Services coveted ServiceMark accreditation and been
certified by the Top Employers Institute as a Top Employer for
2022, 2023 and 2024. Ageas (UK) Limited is a wholly owned
subsidiary of Ageas SA/NV, which has been protecting customers for
nearly 200 years and is listed on the Euronext Brussels and is
included in the Bel20 index.
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 16 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 www.ondoplc.com
