Alm. Brand Group to introduce LeakBot

Ondo InsurTech PLC
03 December 2024
 

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

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings