Water Intelligence PLC New Nationwide Account: Leading Insurance Company (8507C)
22 Octubre 2020 - 1:00AM
UK Regulatory
TIDMWATR
RNS Number : 8507C
Water Intelligence PLC
22 October 2020
Water Intelligence plc
New Nationwide Account: Leading Insurance Company
Water Intelligence plc (AIM: WATR.L) ("Water Intelligence" or
"Company"), 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 another formal national contract between its
American Leak Detection (ALD) subsidiary and a leading insurance
company in the United States. Insurance companies value ALD's
delivery of minimally-invasive water leak detection solutions
anywhere, anytime across the US given that water is the leading
source of homeowners' claims.
This new nationwide account for a major insurance customer is
the second one gained during 2H. It follows the national account
win announced in 3Q. This win will feed additional growth in 2021
and beyond. Moreover, in addition to the formal nationwide account
structure, the Company is continuing to grow its base of insurance
customers across the US at local levels. Working capital from the
Company's successful capital raise and the full implementation of
its Salesforce automated dispatch and scheduling system during 4Q
will enable the Company to meet its nationwide customers' further
increased demand in 2021 and beyond. The Company expects to
continue the rapid growth rate of this nationwide channel.
Despite the disruptions of Covid-19, the Group continues to
grow. ALD is an "essential service provider" and provides consumers
with solutions to water issues while they "shelter in place." ALD
provides insurance companies and their adjusters with a trusted
partner across the United States to pinpoint water leaks and
minimize collateral damage claims from homeowners and
businesses.
Today's contract represents the fifth nationwide contract for
ALD with a top US insurance company, reflecting ALD's position as
the only nationwide pinpoint, minimally-invasive leak detection
specialist.
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 our
existing national sales footprint, data security and execution
experience to deploy solutions anywhere and anytime to minimize
damage from water-related claims.
We have strong momentum as a business. The third quarter was
fast-paced with a national insurance account win, three franchise
reacquisitions that were accretive to the Group's revenue and
profits and receipt of the Green Economy Mark from the London Stock
Exchange. The fourth quarter has kicked-off in similar fashion with
a successful set of capital transactions to accelerate growth and
now another insurance win. We will remain aggressive in our growth
plan and seek to distinguish ourselves in today's marketplace.
Demand is high for our solutions."
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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