RCS - Ondo InsurTech PLC - Ondo presentation at ITC DIA Europe

Ondo InsurTechAnnouncement

12/06/2024 07:15

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RNS Number : 0419S  Ondo InsurTech PLC  12 June 2024

12 June 2024

Ondo Insurtech Plc

("Ondo" or the "Company")

 

Ondo presentation at ITC DIA Europe

 

Ondo Insurtech (LSE: ONDO), a leading company in claims prevention technology
for home insurers, is pleased to announce that the Company is today attending
the ITC DIA Europe Show in Amsterdam. Ondo is presenting with one of its
long-standing customers, Länsförsäkringar ("LF").  LF are Sweden's largest
non-life insurance company.

 

During the joint presentation LF will confirm that it has achieved a reduction
of 40% in gross water damage claims costs in the LF Sörmland region. This was
the first LF region to deploy LeakBot, with 40% of the customer base adopting
the LeakBot solution.

 

A video recording of the presentation will be available at
www.itcdiaeurope.com (http://www.itcdiaeurope.com) and will also be made
available on the Investor Page of the Ondo website following the show.

 

Speaking at the presentation Craig Foster, Ondo CEO states that "We met LF at
this very conference five years ago when we revealed LeakBot as a
revolutionary new idea to reduce water-damage claims.  Five years on and we
return today with LF for another industry first - revealing the successful
bottom-line commercial impact from this type of claims reduction system for a
leading insurance company."

 

ITC DIA Europe is one of the leading global events for the Digital Insurance
sector.  Held this year in Amsterdam on 12-13 June it brings together more
than 50 leading innovation technology companies working with the global
insurance market.

 

 

 

Enquiries

 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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