Ondo InsurTech PLC - London-based claim prevention technology firm for home insurers - Says it has signed a contract with an unnamed ‘US super regional personal lines insurer’, which is said manages over $2.0 billion of personal lines home, motor and umbrella insurance policies. The new insurance partner will start to deploy LeakBot to their customers based in New Jersey beginning in the third quarterf of 2024, offering the LeakBot sensor and repair service free of charge to their customers. Says this is the second insurer to launch LeakBot in New Jersey, and the fifth US insurance company to adopt LeakBot within the last 12 months.

Chief Executive Craig Foster says: ‘We are thrilled to partner another well-respected U.S. insurance brand and look forward to doing a great job for their homeowners starting in New Jersey where we are already fully operational.’

Current stock price: 13.20 pence, up 3.5% in London on Tuesday

12-month change: down 61%

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