The day’s big mover was Ondo InsurTech PLC (LSE:ONDO), which advanced 82% after revealing it had inked a deal with WNS (Holdings) Limited, a US$4bn US business improvement group.
Ondo reckons the tie-up will to fast-track the deployment in North America of LeakBot, its water damage mitigation technology,
The UK group will supply the technology and repair services, while WNS oversees claims, customer
Ondo CEO Craig Foster said: "This is a game-changer proposition within the home insurance industry which can considerably accelerate our business scaling.
"With the WNS loss reduction guarantee, insurers are incentivised to move straight to large-scale rollouts to deliver a guaranteed improvement on their loss ratio. We look forward, in future, to being able to announce the fruits of the partnership."
Ondo shares shot up to the top of the leaderboard, rising 5.35p to 11.85p