23
September 2024
Ondo InsurTech
Plc
("Ondo" or "the
Company")
AGM
Trading Statement
Ondo InsurTech PLC (LSE:
ONDO), a leading company in claims
prevention technology for home insurers,
will hold the Company's Annual General Meeting at
midday today. At the meeting the Chairman Mark Wood, will
make the following statement to Shareholders.
"Since the announcement of our full
year results on 29th July the Company has continued to make further
significant progress. Our total number of registered
customers have continued to grow to 114,000 (+37% year-on-year
growth).
In the UK we were pleased to
announce our new partnership with NFU Mutual - one of the largest
home insurers in the UK with over 900,000 customers. We are
working with NFU to deploy the first order of 17,000 LeakBots into
the homes of NFU customers before the end of our financial
year.
In the Nordics we continue to
execute well with our existing partners in Sweden and
Denmark. A case study of the results achieved by our partner
Länsförsäkringar can be watched online here
(link).
Across all geographies we have
further improved our already excellent levels of customer
satisfaction - current Net Promoter Score stands at an average of
+84 (UK:85; USA:80; Denmark:84) and a Customer Satisfaction Rating
of 4.9/5.
We are especially pleased with
progress in the USA. We have now signed 5 US insurance
carriers in the last 12 months including Nationwide (a Fortune 100
financial services company). Our partners have launched
LeakBot in Ohio, New York, Washington, and New Jersey in the coming
weeks.
In the United States we are well
placed to build on this current momentum. In October we will
present a LeakBot case study to senior executives from 10 of the
Top 25 U.S. Property and Casualty insurers ahead of the InsurTech
Connect Conference in Las Vegas.
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 Ondo InsurTech PLC
Ondo 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 up to 70%.
LeakBot partners with 19 insurance
carriers - including Nationwide, Admiral, Direct Line Group,
Hiscox, Länsförsäkringar and TopDanmark - both in Europe and the
USA.
Ondo 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
