LONDON (dpa-AFX) - Insurtech company Ondo InsurTech Plc announced Wednesday that it has signed a renewal contract with Anglo-Bermudan insurer Hiscox Ltd. (HSX.L) for LeakBot in the UK.
Hiscox, an early adopter of the Leakbot system, will continue to offer LeakBot to new and existing customers through its direct customer journey and broker network
The company noted that Hiscox have been benefiting from introducing the LeakBot system since 2019 and plan to continue to roll out devices to more of their customer base.
The new signing follows the release of the Consumer Intelligence independent research that found that insurers save 70% in water damage claims by introducing LeakBot.
Cheralyn Perry, Head of Art and Private Clients Distribution at Hiscox, said, 'LeakBot have been helping Hiscox customers to minimise the frequency of leaks and the impact of any water damage for a while now. Escape of water incidents is disruptive and costly, which is why preventative technologies like this are so important.'
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