Ondo presentation at ITC DIA Europe

Ondo InsurTech PLC

12 June 2024

 

12 June 2024

Ondo Insurtech Plc

("Ondo" or the "Company")

Ondo presentation at ITC DIA Europe

Ondo Insurtech (LSE: ONDO), a leading company in claims prevention technology for home insurers, is pleased to announce that the Company is today attending the ITC DIA Europe Show in Amsterdam. Ondo is presenting with one of its long-standing customers, Länsförsäkringar ("LF").  LF are Sweden's largest non-life insurance company.

During the joint presentation LF will confirm that it has achieved a reduction of 40% in gross water damage claims costs in the LF Sörmland region. This was the first LF region to deploy LeakBot, with 40% of the customer base adopting the LeakBot solution.

A video recording of the presentation will be available at www.itcdiaeurope.com and will also be made available on the Investor Page of the Ondo website following the show.

Speaking at the presentation Craig Foster, Ondo CEO states that "We met LF at this very conference five years ago when we revealed LeakBot as a revolutionary new idea to reduce water-damage claims.  Five years on and we return today with LF for another industry first - revealing the successful bottom-line commercial impact from this type of claims reduction system for a leading insurance company."

ITC DIA Europe is one of the leading global events for the Digital Insurance sector.  Held this year in Amsterdam on 12-13 June it brings together more than 50 leading innovation technology companies working with the global insurance market.

Enquiries

Ondo InsurTech Plc	Craig Foster, CEO Kevin Withington, CFO	[phone]
Dowgate Capital Ltd (Broker & Financial Advisor)	Russell Cook Nick Chambers Charlie Hall	[phone]
Cassiopeia Services Ltd (PR & Investor Relations)	Stefania Barbaglio	[phone]

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 70%.

LeakBot partners with 17 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

 

END