Water Intelligence PLC Two Insurance National Account Wins (6038Q)
March 01 2021 - 2:00AM
UK Regulatory
TIDMWATR
RNS Number : 6038Q
Water Intelligence PLC
01 March 2021
Water Intelligence plc
Two Insurance National Account Wins
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 two
insurance national account wins. First, the Company is pleased to
have signed and launched another formal national contract between
its American Leak Detection ("ALD") subsidiary and a leading
insurance company in the United States. The Company also announces
the broadening of an existing national account both to add repair
solutions and to create a multi-year framework.
Water-related claims are one of the largest sources of claims
for the insurance market in the United States. Accordingly, market
demand for ALD's precision leak detection and repair solutions is
expected to increase further, particularly in the aftermath of
extreme weather conditions in the southern part of the United
States during February, especially Texas and Oklahoma. Insurance
companies value ALD's delivery of minimally-invasive water leak
detection and repair solutions anywhere, anytime across the United
States.
Today's two wins reinforce the momentum gained during 2020 with
respect to the ALD's national account channel. As discussed in
February's 2020 Year-end Trading Update, despite Covid, the
Company's insurance channel grew 20% year over year and added three
national accounts during 2H 2020.
Executive Chairman, Dr. Patrick DeSouza commented: "Our two
insurance national account wins open 2021 in strong fashion,
picking up where we left-off after outstanding results during 2020.
We take special pride in delivering minimally-invasive water and
wastewater infrastructure solutions to help homeowners and
businesses face the aftermath of this winter's extreme weather in
the US. We hope to lead private sector efforts to advance
water-related solutions for the Green Economy."
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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