Last checked at 14 Jun 2023 07:00
14th June 2023
Ondo InsurTech Plc ("Ondo" or "the Company")
New rapid pilot programme with leading Danish security group G4S
Ondo InsurTech Plc ("Ondo"), the London-listed leader in claims prevention technology for home insurers, is pleased to announce a new one-month pilot programme with G4S in Denmark to test a supplemental go-to-market model for Leakbot in Denmark.
G4S is a leading global security and facilities services company owned by Allied Universal, with over 800,000 employees and $20bn in revenues.
In Denmark, G4S is a leading provider of smart alarm systems with their G4S Shield alarm and emergency response network. G4S Shield has over 70,000 active customers in Denmark and acquires these customers by working with Danish insurance companies to generate sales leads for in-home security visits.
The one-month rapid pilot programme will test whether G4S can use the offer of the installation of a free LeakBot to incentivise customers of one of Denmark's largest insurers to accept an in-home security assessment visit. If successful, the "Free LeakBot" offer will be marketed to this insurer's customers at scale, becoming a key part of G4S Shield's customer growth activities in Denmark.
Martin Hansen, G4S Denmark Head of Product says: "This trial could provide a win-win-win, with customers receiving LeakBot technology for free, our insurance partners experiencing lower water damage claims, and G4S creating opportunities to further protect Danish people's homes."
Craig Foster, Ondo CEO, says: "This is an interesting test of a new route to market, with a potential opportunity to expand our reach in Denmark with one of the largest Danish insurance companies through G4S, who already have a significant presence in the Danish market. We look forward to seeing the results and progressing conversations with G4S and the insurer."
Enquiries
For further information, please visit www.ondoplc.com or contact the following:
Ondo InsurTech Plc | Craig Foster, CEO | +44 (0) 800 783 9866 |
SI Capital Ltd (Company Broker) | Nick Emerson Jon Levinson | +44 (0) 1483 413500 +44 (0) 20 3143 0600 |
Cassiopeia Services Ltd (PR & Investor Relations) | Stefania Barbaglio | +44 (0) 7949 690338
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About G4S Denmark
G4S Denmark has an extensive network of security guarding professionals that support and protect our local communities and customers across the world. In Denmark, we work with insurers to reduce risk and minimise damage to homes and currently have over 70k customers where we're providing this additional protection.
About Ondo InsurTech PLC
Ondo InsurTech Plc is a world leading provider of claims prevention technology for home insurers. Ondo's focus is on the global scale-up of LeakBot - claims prevention technology that prevents water damage claims in houses. Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined. LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to 'find and fix' the problem. Recent independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by 70%.
LeakBot partners with 11 insurance carriers - including Admiral, Direct Line Group, Hiscox, Mapfre and TopDanmark - across 5 different countries, in Europe and the USA.
In March 2022 LeakBot became the first InsurTech to IPO in London, as Ondo InsurTech Plc (LSE:ONDO).
For more information, visit www.ondoplc.com