3
December 2024
Ondo InsurTech
Plc
("Ondo" or "the
Company")
Alm. Brand Group, one of the
largest non-life insurers in Denmark, to introduce
LeakBot
Ondo Insurtech (LSE: ONDO),
a leading company in claims prevention technology
for home insurers, is pleased to announce
an agreement with Alm. Brand Group to introduce LeakBot to their
customers.
The Alm. Brand Group is a multi-brand
Danish insurance group focused on non-life insurance. With more
than 700,000 customers combined, they are one of Denmark's largest
non-life insurance companies.
The agreement allows LeakBots to be
ordered from any of the Alm. Brand Group brands, including Alm.
Brand, Codan, Privatsikring and Erhvervssikring. An initial LeakBot
deployment to Alm. Brand customers is due to be completed in
January. Alm Brand will monitor the impact of LeakBot, including on
claims savings, customer satisfaction and customer loyalty, with a
view of rolling out across their customer base from summer
2025.
Anne
Mette Toftegaard, Alm. Brand Group Deputy
CEO, says: "At Alm. Brand Group
we want to set the standard in non-life insurance,
and we are keenly aware of the role we play and the responsibility
we have in promoting claims prevention. We're excited to
partner with LeakBot to increase customer awareness of the
potential risk of water leaks and to prevent the unnecessary cost,
resources, and inconvenience of an escape of water
claim."
Craig Foster, Ondo CEO, says:
"Denmark is a strategically chosen territory for LeakBot expansion
and this agreement with Alm. Brand Group signifies a great
opportunity to support growth within this region. We continue to
see very positive results in Denmark, with expansions from other
insurers recently announced, and we look forward to working with
Alm. Brand Group to prevent claims and to also positively impact
their customer experience."
Enquiries
For further information, please
visit www.ondoplc.com
or contact the following:
|
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 up to 70%.
LeakBot partners with 21 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
