21
February 2023
Ondo InsurTech
Plc
("Ondo" or the "Company")
Contract
announcement
Selective Insurance Group
sign contract to offer LeakBot to eligible Homeowner Policyholders
in the United States
Ondo InsurTech Plc (LSE: ONDO), the
London-listed leader in water damage claims prevention technology
for home insurers, is pleased to announce that it has signed an
agreement with Selective Insurance Group ("Selective") the US-based Property and
Casualty carrier for Selective to offer LeakBot to its eligible
homeowners policyholders.
Craig Foster, Ondo CEO, said:
"We are pleased to add another well-known US insurer to our list of
partners and we share the same ambitions and aspirations as
Selective - to use technology to protect the homes of families and
reduce the risk of property water damage."
Allen Anderson, Senior Vice President, Personal Lines,
Selective stated:
"We provide customized risk management
solutions to help serve our customers'
unique needs and actively seek innovations that help them mitigate
risk. LeakBot's innovative technology can help our customers reduce
the risk of water-related property damage".
Enquiries
For further information, please
visit www.ondoplc.com
or contact the following:
|
Ondo InsurTech Plc
|
Craig Foster, CEO
|
+44 (0) 800 783 9866
|
|
Dowgate Capital Ltd
(Broker & Financial
Advisor)
|
Russell Cook
Nick Chambers
|
+44 (0) 20 3903 7715
|
|
Cassiopeia Services Ltd
(PR & Investor
Relations)
|
Stefania Barbaglio
|
+44 (0) 7949 690338
|
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. Independent research by
Consumer Intelligence found LeakBot can reduce the cost of water
damage claims by 70%.
LeakBot partners with 15 insurance
carriers - including Nationwide, Admiral, Direct Line Group,
Hiscox, Länsförsäkringar and TopDanmark - both
in Europe and the USA.
In March 2022 LeakBot
became the first InsurTech to IPO in London, as Ondo
InsurTech Plc
(LSE:ONDO) and 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
About Selective Insurance
Selective Insurance Group, Inc.
(Nasdaq: SIGI) is a holding company for 10 property and casualty
insurance companies rated "A+" (Superior) by AM Best. Through
independent agents, the insurance companies offer standard and
specialty insurance for commercial and personal risks and flood
insurance through the National Flood Insurance Program's Write Your
Own Program. Selective's unique position as both a leading
insurance group and an employer of choice is recognized in a wide
variety of awards and honors, including listing in Forbes Best
Midsize Employers in 2023 and certification as a Great Place to
Work® in 2023 for the fourth consecutive year. For more
information about Selective, visit
www.Selective.com.