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
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
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 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