14th Jun 2023 10:08
(Alliance News) - Ondo InsurTech PLC on Wednesday said that it has signed on for a temporary pilot programme with G4S Ltd, in order to test a potential business model for Leakbot in Denmark.
Ondo InsurTech is a London-based provider of claims prevention technology for home insurers. G4S, a former FTSE 250 listing, is a security and facilities services company owned by the US's Allied Universal. In Denmark, G4S supplies smart alarm systems through its Shield alarm and emergency response network.
Over the course of the one-month programme, Ondo will test whether G4S can use the offer of the installation of a free LeakBot to incentivise customers of an unnamed insurer to accept an in-home security assessment visit.
Leakbot is a smart water leak alarm that spots hidden leaks before they become big problems.
If successful, the 'Free LeakBot' offer will be marketed to this insurer's customers at scale, becoming a key part of G4S Shield's customer growth activities in Denmark.
"This is an interesting test of a new route to market, with a potential opportunity to expand our reach in Denmark with one of the largest Danish insurance companies through G4S, who already have a significant presence in the Danish market. We look forward to seeing the results and progressing conversations with G4S and the insurer," said Ondo Chief Executive Officer Craig Foster.
Ondo InsurTech shares were trading 5.1% higher at 22.50 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News reporter
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