6 Feb 2017 07:00
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Water Intelligence plc ("Water Intelligence" or the "Company")
National Insurance Agreement Signed
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Water Intelligence plc announces the signing and launch of the Company's first formal national contract with one of the top 5 insurance companies in the US to provide adjusters a trusted partner to pinpoint water leaks and minimize collateral damage claims from residences and businesses.
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To date, the Company has worked with insurance claims adjusters across the U.S. through its national franchise system relying mainly on local marketing. In an effort to meet insurance customers' demand for a business to business approach, the Company has implemented during 2016 a centralized channel for job assignments and billing. With respect to the subject insurance customer, during 2016 the Company processed through a pilot channel approximately 1500 jobs amounting to approximately $500,000. These jobs supplemented other insurance jobs originating at a local level among franchisees. The Company anticipates broadening its national approach during 2017. The Company will begin reporting a business to business channel starting with its 2016 Annual Report.
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Executive Chairman, Patrick DeSouza commented: "A business to business approach will leverage our existing national footprint and reduce administrative costs for our insurance company partners. We look to a significant increase going forward in the amount of insurance work acquired for our corporate and franchise locations."
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Enquiries:
Water Intelligence plc Patrick DeSouza, Executive Chairman
| Tel: +1 203 654 5426 Â |
finnCap Ltd Adrian Hargrave / Giles Rolls, corporate finance Stephen Norcross, corporate broking  | Tel: +44 (0) 207 220 0500 |
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
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