REG - Ondo InsurTech PLC - Ageas UK to trial LeakBot

Ondo InsurTechAnnouncement

06/06/2024 07:00

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RNS Number : 3204R  Ondo InsurTech PLC  06 June 2024

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 (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 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 (http://www.ondoplc.com/)

 

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