Länsförsäkringar - Sweden's largest non-life insurer - commences LeakBot rollout Ondo InsurTe30 Jan 2023 08:03
Länsförsäkringar - Sweden's largest non-life insurer - commences LeakBot rollout
ndo InsurTech Plc ("Ondo"), the London-listed insurtech company which is the leading provider of claims prevention technology for home insurers, is pleased to announce that Länsförsäkringar has commenced the rollout of the LeakBot service to policyholders across its regional businesses in Sweden following a successful pilot in the Södermanland region.
Länsförsäkringar is the largest non-life insurer in Sweden and has approximately two million home insurance customers who are at risk from water damage claims. Results achieved in the Södermanland region include 40% penetration of addressable policyholders and an impressive 50% increase in new home insurance sales, in addition to validation of the expected claims savings.
The rollout begins with a pre-paid inventory order for LeakBot devices from the second regional business and this is expected to be followed by further orders from this and other Länsförsäkringar regional businesses. Management expect the majority of regional LF businesses to participate in the roll-out.
Lena Högfeldt, CEO of Länsförsäkringar Södermanland, says: "The activity in Södermanland has proven just how popular LeakBot is with our policyholders and we're pleased to already be seeing the benefits of introducing LeakBot on acquisition, retention and claims. Other regional businesses within Länsförsakringar are excited by the results and we're glad they are keen to roll out the activity too."
Craig Foster, CEO of Ondo InsurTech Plc, says: "The pilot with Länsförsäkringar in Sweden has been one of our most successful to date and we have found them to be a fantastic partner to work with. Whilst a full roll-out across Sweden remains subject to each regional business taking up the opportunity, it is clear from the arithmetic that the partnership has the potential to underpin the continuing rapid growth of the active LeakBot device fleet over the next 2-3 years".