RCS - Ondo InsurTech PLC - Further US development

Ondo InsurTechAnnouncement

10/06/2024 07:00

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RNS Number : 7015R  Ondo InsurTech PLC  10 June 2024

10 June 2024

 

Ondo InsurTech Plc

("Ondo" or "the Company")

 

Further US development

 

Nationwide and Pure Underwriting launch LeakBot in Washington, WA

Senior US management appointment

 

 

Ondo Insurtech (LSE: ONDO), a leading company in claims prevention technology
for home insurers, is pleased to announce further expansion of its operations
in the United States.

 

As anticipated by the recent capital raise and following successful respective
launches for Nationwide (in Ohio) and Pure (in New York), both insurers are
now expanding their respective LeakBot programs into Washington state.  Ondo
has an existing engineer support structure in Washington WA, where it is
already working with Mutual of Enumclaw.

 

The Company is also pleased to announce the appointment of Wendi Leibovitz as
Director of Customer Success North America.

 

This key role was specifically highlighted in Ondo's recent investment
roadshow as critical support to the existing U.S. sales team.  Wendi joins
Ondo from SimpliSafe where she ran Embedded Partnerships for the smart home
security company.  Wendi is a Licensed Property and Casualty ("P&C")
insurance agent and is well connected in the U.S. P&C insurance industry.
She has highly relevant industry and technology experience, directly
transferable into Ondo's growth programme in the United States,

 

Mrs. Leibovitz started in her post on 3 June, reporting to Jim Strickland,
General Manager North America.

 

Wendi Leibovitz, Director of Customer Success North America said: "I am really
pleased to join the team at Ondo.  I know from first-hand experience that
U.S. insurers are keen to find tech-enabled solutions to tackle rising claims
costs, but struggle to find solutions that really deliver a scalable business
case. LeakBot stands out as an exciting and highly scalable solution for home
insurers across much of the US.  I am excited to have the opportunity to be
part of this growth."

 

Craig Foster, Ondo CEO, says: "The Customer Success role is a key hire for
Ondo, and we could not have found someone more ideally suited than Wendi with
her expertise, experience and industry-specific knowledge.

 

I am also encouraged to see both Pure and Nationwide expanding with us into a
second state, supporting our strategy to roll out each partnership on a
carefully managed state-by-state basis."

 

 

 

Enquiries

 

For further information, please visit (http://www.ondoplc.com) www.ondoplc.com
(http://www.ondoplc.com)   or contact the following:

 

 Ondo InsurTech Plc                 Craig Foster, CEO       +44 (0) 800 783 9866

                                    Kevin Withington, CFO
 Dowgate Capital Ltd                Russell Cook            +44 (0) 20 3903 7715

 (Broker & Financial Advisor)       Nick Chambers

                                    Charlie Hall
 Cassiopeia Services Ltd            Stefania Barbaglio      +44 (0) 7949 690338

 (PR & Investor Relations)

 

 

 

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 70%.

LeakBot partners with 17 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 (http://www.ondoplc.com/)

 

 

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