Ondo InsurTech has secured a contract with Danish insurer Topdanmark to expand its roll-out to 20,000 new customers in Denmark.
Based in London, Ondo leverages technologies such as its LeakBot solution to take a preventative approach to home insurance. The company works with home insurers to protect properties to prevent damage from happening, giving people peace of mind in a much more sustainable way than the traditional risk transfer model of insurance.
Craig Foster, founder and CEO, said, “Insurance is defeatist. It accepts things go wrong, and wastes billions of pounds putting things back a bit like they were before – with a lot of stress and heartache along the way.”
Ondo’s LeakBot is a water pipe monitoring system that helps prevent water leaks.
Topdanmark, a Denmark-headquartered insurance company, offered LeakBot to its customers in 2019.
According to a report from Alliance News, Ondo said, “Those customers received a LeakBot device and access to specialised leak location and repair services which resulted in a positive claims reduction experience.”
Under the new agreement, Topdanmark will expand the LeakBot service to a further 20,000 customers in Denmark over 18 months from March 2023.
Foster said, “We start 2023 with great news and a strong commitment to growing our business, by delivering LeakBots to more customers. Increasing the number of households with a LeakBot in Denmark is key to our strategy and the Topdanmark rollout- alongside the previously announced rollout with LB Fosikringar, will provide great opportunity for growth in 2023 and beyond.”
Earlier this month, US-based InsurTech NsureHub has partnered with Guardian Leak Detection to bolster its home insurance offering. The partnership aims to offers customers discounts on their home insurance policies, as well as discounts on devices from Guardian Leak Detection.
The company said that the partnership also forms part of its efforts to help its customers take more of a proactive prevention approach to home perils.
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