Ondo InsurTech PLC (LSE:ONDO) chairman Mark Wood said the company has made “further significant progress” since reporting full-year results in July.
The maker of the LeakBot leak detection device has amassed 114,000 registered customers, up 37% year-on-year and 19% from the March year-end total, Wood said in a statement ahead of today’s annual shareholder meeting.
He hailed the new contract win with NFU Mutual that was announced earlier this month, bringing in one of the largest home insurers in the UK with over 900,000 customers, and where the first 17,000 LeakBots are to be deployed before Ondo’s year-end.
Wood also highlighted progress overseas, including with partners in Sweden and Denmark, and especially in the USA.
“We have now signed five US insurance carriers in the last 12 months, including Nationwide (a Fortune 100 financial services company). Our partners have launched LeakBot in Ohio, New York, Washington, and New Jersey in the coming weeks,” he said.
“In the United States we are well placed to build on this current momentum. In October we will present a LeakBot case study to senior executives from 10 of the top 25 US property and casualty insurers ahead of the InsurTech Connect Conference in Las Vegas.”