RNS Number : 1143B
Ondo InsurTech PLC
29 January 2024
29 January 2024
Ondo Shortlisted for Breakthrough of the Year Award at PLC Awards 2023
Ondo Insurtech (LSE: ONDO), a leading company in claims prevention technology for home insurers, is delighted to announce its shortlisting for the Breakthrough of the Year Award at the upcoming PLC Awards 2023.
PLC Awards, established in 1987 and sponsored by BDO in association with the London Stock Exchange, stand as a beacon in recognizing outstanding achievements within the Main Market of the London Stock Exchange, the revered "plc club." Scheduled annually in March, this event highlights excellence across various categories with a particular emphasis on Environmental, Social, and Governance (ESG) considerations, reflecting the dynamic and evolving landscape of responsible corporate citizenship.
Ondo's nomination in the Breakthrough of the Year category recognises its pioneering efforts in the insurtech sector. Notably, its proprietary leak detection product, Leakbot, which leads the charge in proactive claims prevention. The Company's dedication to innovation, transformative solutions, and sustainable practices align with the demanding ESG criteria championed by the PLC Awards, as well as the diverse needs of customers and homeowners committed to conservation.
In 2022, Ondo received the London Stock Exchange's Green Economy Mark, a recognition of its significant contribution to the global green economy through the water-saving benefits delivered by Ondo's LeakBot product.
Craig Foster, CEO of Ondo InsurTech, commented: "This nomination underscores our pursuit of innovation and our commitment to delivering groundbreaking tech solutions to solve real-world problems. Our focus on responsible and sustainable business practices is unwavering."
For more information, visit www.ondoplc.com
Ondo InsurTech Plc
Craig Foster, CEO
Kevin Withington, CFO
+44 (0) 800 783 9866
Dowgate Capital Ltd
(Broker & Financial Advisor)
+44 (0) 20 3903 7715
Cassiopeia Services Ltd
(PR & Investor Relations)
+44 (0) 7949 690338
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. Independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by 70%.
LeakBot partners with 15 insurance carriers - including Nationwide, Admiral, Direct Line Group, Hiscox, Länsförsäkringar and TopDanmark - both in Europe and the USA.
In March 2022 LeakBot became the first InsurTech to IPO in London, as Ondo InsurTech Plc
(LSE:ONDO) and holds the coveted London Stock Exchange Green Economy Mark awarded to companies who derive the majority of their income from Green activities.
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