6th Feb 2017 08:53
LONDON (Alliance News) - Leak detection firm Water Intelligence PLC on Monday said it has signed a formal contract with an unnamed top-five insurance company in the US.
Under the deal, Water Intelligence will work with insurance adjusters to pinpoint water leaks and minimise collateral damage claims from clients of the insurer. No financial details on the deal were disclosed.
"A business-to-business approach will leverage our existing national footprint and reduce administrative costs for our insurance company partners. We look to a significant increase going forward in the amount of insurance work acquired for our corporate and franchise locations," said Water Intellience Executive Chairman Patrick DeSouza.
Water Intelligence shares were up 13% to 130.00 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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