TIDMONDO

Ondo InsurTech PLC

17 July 2023

17th July 2023

Ondo InsurTech Plc ("Ondo" or "the Company")

Waterwise - the leading UK Water Efficiency NGO - makes Ondo an Affiliate Partner

Ondo InsurTech Plc ("Ondo"), the London-listed leader in claims prevention technology for home insurers, is pleased to announce a new affiliate partnership with Waterwise - the leading UK water efficiency NGO.

Waterwise are the UK's independent conscience on water efficiency and experts in water efficiency policy, regulation, research, behaviour and campaigns. Ondo and Waterwise will collaborate to promote the wise use of water, including supporting the rollout of technologies such as LeakBot that can help reduce pressure on the UK's water resources.

Waterwise and Ondo both see an opportunity to bring the insurance and water industries together to help fight the UK's emerging water crisis:

-- The UK's water resources are under increasing pressure. We use twice as much water than we did 60 years ago in the UK. We are starting to experience widespread droughts and periodic water shortages, impacted also by climate change.

   --    UK wildlife is being impacted by the over-abstraction of local streams and rivers.

-- 5-6% of GHG emissions are related to our use of water, so reducing household consumption of water is also key to enable the UK to get to net-zero.

-- Waterwise believes the UK needs to save in the region of 1,000 Megalitres per day through water efficiency measures to meet future needs.

-- Leaking toilets are a surprisingly big part of the problem. Waterwise believes 8% of toilets are leaking 215-400 litres/day (broadly consistent with LeakBot data). If these toilets didn't leak it would save 400 Megalitres of water per day - enough water to meet the needs of 2.8m people

This is where LeakBot can really make a difference. LeakBot can reduce household leaks by 60% and the majority of the leakage in customers' homes that we fix is caused by leaky toilets. Full results of the Portsmouth Water pilot are available here .

Nathan Richardson - Head of Policy at Waterwise said: "Waterwise have long cited leaky loos as being a huge part of the UK's water waste problem. With LeakBot we can see the potential for a truly scalable solution that benefits both the insurance and water sector and could make a real difference to reducing UK water demand, so we are keen to help support technologies like this get rolled out."

Craig Foster, Ondo CEO , says: "We have already learned a lot from Waterwise and they have helped us better understand what a material difference we could make in the UK. Bringing together the insurance and water sectors to deploy LeakBot makes sense, as costs are reduced for both parties and together, we have something really scalable that can have a profound environmental impact."

Enquiries

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

About Waterwise

Waterwise is the leading UK water efficiency NGO. Waterwise's vision is that water is used wisely every day, everywhere, by everyone. Waterwise are the UK's independent conscience on water efficiency, and are experts in water efficiency policy, regulation, research, behaviour and campaigns.

For more information, visit https://www.waterwise.org.uk

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. Recent independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by 70%.

LeakBot partners with 13 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).

For more information, visit www.ondoplc.com

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July 17, 2023 02:00 ET (06:00 GMT)

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