Insurance National Account Win

RNS Number : 9979X

Water Intelligence PLC

10 May 2021

 

Water Intelligence plc

 Insurance National Account Win

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 another insurance national account win - its third year-to-date.

Water-related claims are one of the largest sources of claims for the insurance market in the United States.  Insurance companies value ALD's delivery of minimally-invasive water leak detection and repair solutions anywhere, anytime across the United States. Today's win is with one of the fastest growing national insurance carriers.

The Company's latest business-to-business account reinforces the sustainability of Water Intelligence's growth trajectory for its insurance channel.  As discussed in recent trading updates, the business-to-business insurance channel grew 20% year-over-year for full year 2020 vs. 2019 and kicked-off this year with 19% growth for 1Q 2021 over 1Q 2020.  

Executive Chairman, Dr. Patrick DeSouza commented: "We are appreciative of the recognition that we are gaining across the United States with homeowners and insurance companies. We will continue to build on our value proposition of minimally-invasive leak detection and repair and our reputation for excellence in delivering solutions across the United States.  We seek to capture more and more of the $13 billion insurance market for water-related claims."

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]
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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