Announcement
Water Intelligence : Second National Insurance Agreement Signed
RNS Number : 9115A
Water Intelligence PLC
04 January 2018
Water Intelligence plc
(the "Company")
Second National Insurance Agreement Signed
Water Intelligence plc announces the signing and launch of the Company's second 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. The Company's provision of nationwide coverage through American Leak Detection (ALD), its highly regarded franchise and corporate-operated brand, allows for a nationwide execution for customers in the United States.
During 2017, ALD implemented its first national contract, having previously worked with insurance claims adjusters across the U.S. relying mainly on local marketing and execution from its franchisees. In an effort to meet insurance customers' demand for a consistent nationwide business to business approach, ALD implemented a centralized channel for job assignments and billing. During 2017 approximately 35,000 jobs originated from this central channel. The strategy has now been enhanced further with the introduction of partnerships with product companies.
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. Year one implementation went well. In response to strong demand, we plan to do more of the same in 2018 and beyond, as the insurance market is currently seeking complete solutions for minimizing water loss through leakage and we believe we are well positioned to deliver this. We look forward to another significant increase in the amount of insurance work acquired for our corporate and franchise locations."
Enquiries:
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Water Intelligence plc Patrick DeSouza, Executive Chairman
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Tel: +1 203 654 5426
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finnCap Ltd Adrian Hargrave / Giles Rolls, corporate finance Stephen Norcross, corporate broking
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Tel: +44 (0) 207 220 0500 |
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The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
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