Water Intelligence PLC Significant Insurance National Account Win (2447E)
06 Julio 2021 - 01:00AM
UK Regulatory
TIDMWATR
RNS Number : 2447E
Water Intelligence PLC
06 July 2021
Water Intelligence plc
Significant Insurance National Account Win
Water Intelligence plc (AIM: WATR.L) ("Water Intelligence" or
"Group"), a leading multinational provider of precision,
minimally-invasive leak detection and remediation solutions for
both potable and non-potable water is pleased to announce that it
has opened 2H with another insurance national account win,
representing its fourth year-to-date. The contract's mandate is the
broadest yet to be provided by a national insurance carrier to
American Leak Detection ("ALD"), the Group's core business
subsidiary.
Under today's contract, ALD is formally designated as a
"Preferred Contractor" and will have the right to handle all water
leak and repair jobs across the United States from this insurance
provider. The broader designation advances the Group's strategy to
grow its national account base and drives the continued expansion
of customer jobs across ALD's significant execution footprint in
the United States with no additional marketing expense.
Water-related claims are one of the largest sources of claims
for the insurance market in the United States. Insurance companies
value not only ALD's precision, minimally-invasive water leak
detection and repair solutions to help manage the size of insurance
claims but also its execution capabilities "anywhere, anytime
across the United States" as the only nationwide provider of such
solutions. The national insurance carrier will be using ALD's
centralized processing, scheduling and dispatch system, which is
being further enhanced through the implementation of
Salesforce.com's customer relationship management software. The
Group's technology-enabled services approach competitively
differentiates ALD from localised providers of leak detection
services.
Today's business-to-business account reinforces the
sustainability of a strong organic growth trajectory for its ALD
franchise System and corporate-operated locations. As outlined in
the Group's recent trading updates, through 30 April, the
business-to-business insurance channel is growing at 25%, up from
20% for full-year 2020 versus 2019.
Executive Chairman, Dr. Patrick DeSouza commented: "We are
pleased to kick-off 2H with another national insurance win. This
win is especially exciting because of the opportunity to receive
all leak detection and repair work nationally for a leading
insurance company. We seek to capture more and more of the $13
billion insurance market for water-related claims. Year to date, we
have achieved strong growth across all of our business lines and we
look to carry the momentum into the second half of the year."
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014
Enquiries :
Water Intelligence plc Tel: +1 203 654 5426
Patrick DeSouza, Executive Chairman
RBC Capital Markets - Joint Broker Tel: +44 (0)20 7653 4000
Jill Li
Elizabeth Evans
WH Ireland Limited - NOMAD & Tel: +44 (0)207 220 1666
Broker
Adrian Hadden
James Sinclair-Ford
Matthew Chan
Dowgate Capital Ltd - Broker Tel: +44 (0)20 3903 7721
Stephen Norcross
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END
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