Water Intelligence PLC New National Insurance Customer (5094W)
19 Agosto 2020 - 1:00AM
UK Regulatory
TIDMWATR
RNS Number : 5094W
Water Intelligence PLC
19 August 2020
Water Intelligence plc
New National Insurance Customer
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 the
signing and launch of a formal national contract between its
American Leak Detection (ALD) subsidiary and another of the leading
insurance companies in the United States.
Despite the disruptions of Covid-19, the Group continues to grow
its national insurance accounts. ALD provides insurance companies
and their adjusters with a trusted partner across the United States
by deploying its minimally-invasive, technology-based solutions to
pinpoint water leaks and minimize collateral damage claims from
homeowners and businesses.
More broadly, through its centralized processing of
water-related claims, ALD is able to provide a "One-Stop Shop" for
national business-to-business customers and immediate dispatch to
any of its more than 125 locations across the United States. As
announced earlier this year, ALD's Salesforce.com implementation
will accelerate the development of this national channel structure
through secure automation of dispatch, scheduling and
reporting.
Today's contract represents the fourth national contract for ALD
with a top US insurance company. ALD remains the only nationwide
pinpoint leak detection specialist. Water-related damage claims by
homeowners in the US remain the leading problem area for insurance
companies, amounting to aggregate losses of greater than $13
billion annually.
The Group continues to execute its growth plan and to build
scale as an "essential service provider" for water and wastewater
infrastructure solutions despite the challenges of Covid-19
affecting the broader marketplace.
Executive Chairman, Dr. Patrick DeSouza commented: "We are
delighted to have the opportunity to work together with another
industry leader. Our established business-to-business channel is
attractive for insurance companies because we can leverage both our
existing national sales footprint and our execution experience to
deploy solutions anywhere and anytime to minimize damage from
water-related claims. Our Salesforce.com implementation, announced
earlier this year, is a value-add feature that is attractive for
all of our national accounts.
It has been a busy quarter which has included additional
franchise reacquisitions. Today's transaction will reinforce
organic growth for both corporate and franchise locations. We
continue to distinguish ourselves in the Covid-19 marketplace and
reinforce our growth trajectory. Water is a precious strategic
resource and we are on a mission to provide high quality water
infrastructure solutions to meet increasing demand even during
these challenging times."
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014
Enquiries :
Water Intelligence plc
Patrick DeSouza, Executive Chairman Tel: +1 203 654 5426
Adrian Hargrave, VP Corporate Development + 44 (0)7775 701 838
WH Ireland Limited - NOMAD & Broker Tel: +44 (0)207 220 1666
Adrian Hadden
James Sinclair-Ford
Matthew Chan Tel: +44 (0)7920 599 793
Dowgate Capital Ltd - Broker &
Advisor
Stephen Norcross
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END
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