Insurtech Ondo has signed an agreement with South West Water so it can utilise LeakBot to reduce water leaks in the South West of England.
South West Water provide water and wastewater services to 1.8 million customers across Cornwall, the Isles of Scilly and parts of Dorset and Somerset.
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Furthermore, South West Water will use Ondo and LeakBot to an initial 6.000 customers by the end of March 2024. The goal is to reduce water wastage by alerting customers and resolving as many leaks as possible, as quickly as possible.
South West Water customers will be offered a LeakBot and a free repair, with as many repairs as possible being completed within the first few months.
David Harris, South West Water’s drought and resilience director, said: “LeakBot has become a recognised name in leak detection and prevention in the water industry and we’ve been impressed by the results and feedback seen so far. We’re always looking for innovative ways to engage with our customers and reduce water wastage. We’re excited to see the impact LeakBot will have on high usage areas and beyond.”
Craig Foster, Ondo CEO, added: “The immediate roll out of LeakBots within the South West is further evidence of the traction we’re seeing from water companies who are keen to see the impact we can have on reducing leaks and water wastage within a customer’s home. A roll out with South West Water will allow us to help prevent unnecessary wastage through domestic leaks. We look forward to working on the deployment of the initial 6,000 LeakBots and any future activity.”
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By GlobalDataOndo future plans
Speaking to LII, Foster explained his firm’s next steps, particularly when it comes to expansion.
He stated: “Ondo continues to collaborate with partners and maintain excellence of execution in our mission to decrease water wastage. We look forward to continued expansion in the US, which has already seen great traction through our partnerships with Mutual of Enumclaw, Nationwide Insurance, and Selective Insurance. We are also seeking to continuously grow our insurer business throughout the UK and Europe through continued partnerships with Länsförsäkringar in Denmark as well as our other partners throughout the continent.
“This year we are also actively seeking to engage with water utilities, especially in the UK as the water crisis continues. Last year we saw the successful results of Portsmouth Water, and Southern Water and we recently partnered with South West Water which provides water and wastewater services to 1.8 million customers across Cornwall, Devon, the Isles of Scilly, and parts of Dorset and Somerset. We’re committed to innovation in insurance and conserving water through the use of proactive technology. With the right support from the government and water companies we believe we can make a material difference in managing water consumption.”
In 2024, Ondo signed an agreement with Selective Insurance Group to offer LeakBot to its eligible homeowners policyholders.
London-based Onto is a leader in water damage claims prevention technology and will now work with the US-based property and casualty firm Selective.
In 2023, Ondo struck an alliance with LB Forsikring to further the distribution of its LeakBot claims prevention technology in Demark.
LeakBot, designed to avert water damage claims, is a patented, self-install device that connects to home networks.
It alerts homeowners about leaks via a mobile app and offers access to engineering support.
