TIDMONDO

RNS Number : 1838Y

Ondo InsurTech PLC

05 September 2022

5(th) September 2022

Ondo InsurTech Plc

(" Ondo " or "the Company")

Ondo InsurTech Appoints Kevin Withington as CFO

Ondo InsurTech Plc (LON: ONDO) - the insurtech company which aims to be the leading provider of claims prevention technology for home insurers - announces that it has appointed Kevin Withington as Chief Financial Officer.

Mr. Withington brings 25+ years of insurance industry experience to the team at Ondo, with previous stints at MyPolicy, AJ Gallagher & Co and TowerGate (among others) and is well placed to help Ondo through a period of growth.

It is the Board's intention to appoint as a Statutory Director in due course.

Mr. Withington said "I am really enthused to join the team at Ondo at such an exciting time and see the huge potential in this business. It is rare you get the opportunity to join a business with such a unique proposition that addresses such a large market, and that is what we have with the LeakBot solution".

Enquiries

   For further information, please visit www.ondoplc.com   or contact the following: 
 
 Ondo InsurTech Plc 
  Craig Foster, Chief Executive Office      +44 (0) 800 783 9866 
 Broker 
  SI Capital Ltd 
  Nick Emerson                                +44 (0) 1483 413500 
  Jon Levinson                                +44 (0) 20 3143 0600 
 Public & Investor Relations 
  Cassiopeia Services Ltd 
  Stefania Barbaglio                        +44 (0) 7949 690338

About Ondo InsurTech Plc

Ondo InsurTech Plc is on a mission to become the world's leading provider of claims prevention technology for home insurers. Ondo's focus is on the global scale-up of LeakBot - an end-to-end internet of things solution which protects homes from the impact of water damage. 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. Recent independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by 70%.

LeakBot partners with 11 insurance carriers - including Admiral, Direct Line Group, Hiscox, Mapfre and TopDanmark - across 5 different countries, in Europe and the USA.

In March 2022 LeakBot became the first InsurTech to IPO in London, as Ondo InsurTech Plc (LSE:ONDO) and Ondo was subsequently awarded the LSE's Green Economy Mark recognising Ondo a business that contributes to the Green Economy.

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September 05, 2022 02:00 ET (06:00 GMT)

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