Ondo InsurTech PLC (LSE:ONDO) told investors that a US member-owned property and casualty insurer will expand its use of LeakBot into five more states.
Privilege Underwriters Reciprocal Exchange, known as PURE, started a trial in 2023 of LeakBot in downstate New York, where a clip-on sensor is used in customers’ homes to detect hidden water leaks and prevent costly damage.
PURE, which offers LeakBot and a plumbing repair service to eligible members at no cost, is now expanding this program into New Jersey, Pennsylvania, Ohio, Indiana, North Carolina and Washington DC.
Jack Willis, the US firm’s head of loss prevention solutions, said the pilot program in New York had proved successful.
“Year over year, water damage is the most common and costly cause of loss for our membership. Our partnership with Ondo gives eligible members a promising tool in the battle against water damage."
Ondo CEO Craig Foster said: "PURE Insurance is a great partner. Their commitment to proactive risk management and a shared risk model is driving member engagement that is significantly higher than we see in most other insurance companies.
“We look forward to continuing to provide compelling results as we transition from a pilot project in a single state to a wider test of the LeakBot solution for PURE Insurance members across seven states."