Latest update from Ondo;
Ondo InsurTech Plc (“Ondo”), the London-listed leader in claims prevention technology for home insurers, is pleased to announce today a new proof-of-concept pilot with Firemark Collective, the innovation and venturing arm of IAG, Australia’s and New Zealand’s largest general insurer.
Firemark Collective selected LeakBot as their chosen solution to help prevent water damage claims. Plumbing in Australia is different to the UK, in that the supply pipe and stop tap are external to the property. Under this fully funded deal, the testing and development of an outside “All Weather” version of the LeakBot product will be trialled over the next 12 months. All IP created as part of the development will be owned by Ondo.
Craig Foster, Ondo CEO, says: “Australia was not part of our roadmap but when approached by one of the largest insurance companies in the region wanting to partner with us exclusively it makes perfect sense for us to stand-up this project. Beyond Australia, we can also see the applicability of this product version in other hot climatic regions like Southern Europe where the stop taps are also outside”.
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