(Alliance News) - Ondo InsurTech PLC on Monday said it has restructured vendor loan notes issued to its largest shareholder, HomeServe Assistance Ltd, a Walsall, England-based multinational specialising in home emergency repairs and improvements. The loan notes were originally issued as part of Ondo InsurTech's 2022 acquisition of the LeakBot business. Read More
(Alliance News) - Ondo InsurTech PLC on Tuesday celebrated an expansion of its partnership with Nationwide Mutual Insurance Company, in order to roll out LeakBot across 16 states in the US. Read More
Ondo InsurTech PLC - London-based claim prevention technology firm for home insurers - Increases production capacity at its UK contract manufacturing facility to accommodate "significant increasing demand" for LeakBot, the company's patented self-install solution that connects to homes using wireless networks to detect leaks. It will add a second production line at its manufacturing partner, Asteelflash, in Bedford, England, which will increase the business' production capacity to 40,000 units per month from its current level of 10,000 units per month. Read More
Ondo InsurTech PLC - London-based claim prevention technology firm for home insurers - Signs contract to provide members of insurer National Farmers Union Mutual with its LeakBot water leak detection system. Says NFU will roll out 17,000 LeakBots to customers between October and January. Pending successful rollout, says further systems to be delivered across NFU's its member base, of which it has 900,000. Read More
Ondo InsurTech PLC - London-based claim prevention technology firm for home insurers - Says it has signed a contract with an unnamed "US super regional personal lines insurer", which is said manages over USD2.0 billion of personal lines home, motor and umbrella insurance policies. The new insurance partner will start to deploy LeakBot to their customers based in New Jersey beginning in the third quarterf of 2024, offering the LeakBot sensor and repair service free of charge to their customers. Says this is the second insurer to launch LeakBot in New Jersey, and the fifth US insurance company to adopt LeakBot within the last 12 months. Read More
(Alliance News) - Ondo InsurTech PLC on Monday said losses had narrowed in the last financial year as the company reports double-digit revenue and customer growth. Read More
(Alliance News) - Ondo InsurTech PLC on Monday announced further advancements to the expansion of its US operations. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
Ondo InsurTech PLC - London-based provider of claims prevention technology for home insurers - Plans to raise GBP3.0 million via a placing to new and existing institutional investors at 14.0 pence per share. Further, proposes to raise GBP1.2 million via open offer at the same price. Terms of open offer are 1 new open offer share for every 10 existing shares. Net proceeds to be used to establish an administration and service support centre in the US; build and expand operations across the US; and provide working capital to finance growth in rollouts. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - Ondo InsurTech PLC on Monday said it has signed an agreement with South West Water to reduce water leaks in the south west of England. Read More
Ondo InsurTech PLC - London-based claims prevention technology firm - Signs agreement with Selective Agreement Group for the use of Leakbot. LeakBot is a self-install claims prevention technology which connects to the wireless network of a home, alerting customers if it detects a leak. Read More
(Alliance News) - Ondo InsurTech PLC on Wednesday said it has agreed a deal with LB Forsikring to increase the distribution of its LeakBot technology in Denmark. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - Ondo InsurTech PLC on Monday said that the need for its product was growing as it announced a halved half-year loss as revenue increased faster than costs. Read More
Ondo InsurTech PLC - London-based claims prevention technology firm for home insurers - Partners with Ohio-based insurance and financial services firm Nationwide to offer Leakbot device to US homeowners insurance customers as part of its Smart Home Program. "This new offering will help to fill a common protection gap that many homeowners may face", it says. LeakBot is a self-install claims prevention technology which connects to the wireless network of a home, alerting customers if it detects a leak. Says it is working with Nationwide towards the first state launch, which is scheduled for early 2024. Read More