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Highlights:
Ondo InsurTech expands its U.S. presence with Selective Insurance, rolling out LeakBot across four additional states.
LeakBot technology is now available to homeowners in Virginia, Pennsylvania, Indiana, and Ohio.
Ondo’s partnership with Selective Insurance reflects growing confidence in LeakBot as a solution to reduce water damage claims.
Ondo InsurTech Plc (LSE:ONDO) , a leading provider of claims prevention technology for home insurers, has entered into a new contract with Selective Insurance to expand the rollout of its LeakBot technology. Following a successful launch in New Jersey, the new contract will extend LeakBot’s availability to homeowners in Virginia, Pennsylvania, Indiana, and Ohio, further solidifying its role in Selective’s risk management services.
LeakBot is a patented, self-install solution designed to detect water leaks in homes, a significant cause of home insurance claims. By connecting to a home’s wireless network, LeakBot notifies customers of leaks via the LeakBot mobile app, enabling prompt action. Independent research has shown that LeakBot can reduce the cost of water damage claims by up to 70%.
Craig Foster, CEO of Ondo, emphasized the importance of this new contract as a key step in the company’s U.S. expansion. The deployment of LeakBot in these four additional states underscores its effectiveness in reducing water damage claims, a major expense for insurers. With this expansion, LeakBot is now accessible to homeowners in 18 U.S. states, a milestone that reflects the growing adoption of Ondo’s technology among U.S. insurance carriers.
Ondo’s collaboration with Selective Insurance is part of a broader effort to scale the LeakBot solution across the U.S. The partnership highlights the growing confidence in LeakBot’s ability to prevent costly water damage claims while enhancing policyholder satisfaction. As part of its global strategy, Ondo continues to work with major insurance carriers both in the U.S. and Europe, positioning LeakBot as a leading tool in claims prevention for the home insurance industry.
