Ondo InsurTech PLC - London-based claims prevention technology firm for home insurers - Partners with Ohio-based insurance and financial services firm Nationwide to offer Leakbot device to US homeowners insurance customers as part of its Smart Home Program. ‘This new offering will help to fill a common protection gap that many homeowners may face’, it says. LeakBot is a self-install claims prevention technology which connects to the wireless network of a home, alerting customers if it detects a leak. Says it is working with Nationwide towards the first state launch, which is scheduled for early 2024.

Ondo Chief Executive Officer Craig Foster says: ‘It is a great honour to be chosen by one of the biggest and best insurance companies in the US to deploy our water damage prevention system to Nationwide customers as part of its Smart Home Program. We look forward to making a success of the first state deployments in early 2024 and expanding from there.’

Current stock price: 26.02 pence, up 33%

12-month change: multiplied from 7.50 pence

Copyright 2023 Alliance News Ltd. All Rights Reserved.