Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Ondo InsurTech partners with South West Water to tackle UK water scarcity; inks new US LeakBot deal By: News Direct February 26, 2024 at 09:53 AM EST --News Direct--Ondo InsurTech PLC (LSE:ONDO) CEO Craig Foster joins Proactive's Stephen Gunnion with news the company has partnered with South West Water to deploy 6,000 LeakBots in a water-stressed region in the UK to reduce leaks, marking its third collaboration with a UK water company.This initiative is part of a broader effort to address water scarcity in the UK, exacerbated by climate change and population growth. Foster highlighted that 8% of UK toilets leak, wasting significant amounts of water daily. Ondo InsurTech's LeakBot solution allows homeowners to easily install a device that detects leaks, enabling timely repairs.In the US, Ondo InsurTech is expanding its footprint, inking a deal with Selective Insurance, the US property and casualty group, which will offer its LeakBot, a self-install leak detection unit, to policyholders.The company has now signed agreements with four major insurers in the past nine months, including a significant partnership with Nationwide. These deals demonstrate the company's growing momentum in the US market, where insurers spend around $16 billion annually on water leak damages.Foster also mentioned Ondo InsurTech's nomination for the Breakthrough of the Year Award at the 2023 PLC Awards, competing against giants like Rolls Royce. Despite considering its chances slim, Foster sees the nomination as an honour and an indication of the company's innovative impact in addressing water conservation and leak prevention.Contact DetailsProactive UK Ltd+44 20 7989 0813uk@proactiveinvestors.comView source version on newsdirect.com: https://newsdirect.com/news/ondo-insurtech-partners-with-south-west-water-to-tackle-uk-water-scarcity-inks-new-us-leakbot-deal-113442414 Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Ondo InsurTech partners with South West Water to tackle UK water scarcity; inks new US LeakBot deal By: News Direct February 26, 2024 at 09:53 AM EST --News Direct--Ondo InsurTech PLC (LSE:ONDO) CEO Craig Foster joins Proactive's Stephen Gunnion with news the company has partnered with South West Water to deploy 6,000 LeakBots in a water-stressed region in the UK to reduce leaks, marking its third collaboration with a UK water company.This initiative is part of a broader effort to address water scarcity in the UK, exacerbated by climate change and population growth. Foster highlighted that 8% of UK toilets leak, wasting significant amounts of water daily. Ondo InsurTech's LeakBot solution allows homeowners to easily install a device that detects leaks, enabling timely repairs.In the US, Ondo InsurTech is expanding its footprint, inking a deal with Selective Insurance, the US property and casualty group, which will offer its LeakBot, a self-install leak detection unit, to policyholders.The company has now signed agreements with four major insurers in the past nine months, including a significant partnership with Nationwide. These deals demonstrate the company's growing momentum in the US market, where insurers spend around $16 billion annually on water leak damages.Foster also mentioned Ondo InsurTech's nomination for the Breakthrough of the Year Award at the 2023 PLC Awards, competing against giants like Rolls Royce. Despite considering its chances slim, Foster sees the nomination as an honour and an indication of the company's innovative impact in addressing water conservation and leak prevention.Contact DetailsProactive UK Ltd+44 20 7989 0813uk@proactiveinvestors.comView source version on newsdirect.com: https://newsdirect.com/news/ondo-insurtech-partners-with-south-west-water-to-tackle-uk-water-scarcity-inks-new-us-leakbot-deal-113442414
--News Direct--Ondo InsurTech PLC (LSE:ONDO) CEO Craig Foster joins Proactive's Stephen Gunnion with news the company has partnered with South West Water to deploy 6,000 LeakBots in a water-stressed region in the UK to reduce leaks, marking its third collaboration with a UK water company.This initiative is part of a broader effort to address water scarcity in the UK, exacerbated by climate change and population growth. Foster highlighted that 8% of UK toilets leak, wasting significant amounts of water daily. Ondo InsurTech's LeakBot solution allows homeowners to easily install a device that detects leaks, enabling timely repairs.In the US, Ondo InsurTech is expanding its footprint, inking a deal with Selective Insurance, the US property and casualty group, which will offer its LeakBot, a self-install leak detection unit, to policyholders.The company has now signed agreements with four major insurers in the past nine months, including a significant partnership with Nationwide. These deals demonstrate the company's growing momentum in the US market, where insurers spend around $16 billion annually on water leak damages.Foster also mentioned Ondo InsurTech's nomination for the Breakthrough of the Year Award at the 2023 PLC Awards, competing against giants like Rolls Royce. Despite considering its chances slim, Foster sees the nomination as an honour and an indication of the company's innovative impact in addressing water conservation and leak prevention.Contact DetailsProactive UK Ltd+44 20 7989 0813uk@proactiveinvestors.comView source version on newsdirect.com: https://newsdirect.com/news/ondo-insurtech-partners-with-south-west-water-to-tackle-uk-water-scarcity-inks-new-us-leakbot-deal-113442414
