New National Insurance Customer

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: [phone]
Adrian Hargrave, VP Corporate Development		+ 44 (0)7775 701 838
WH Ireland Limited - NOMAD & Broker		Tel: [phone]
Adrian Hadden
James Sinclair-Ford
Matthew Chan Dowgate Capital Ltd - Broker & Advisor  Stephen Norcross			Tel:  [phone]

 

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