Ondo InsurTech PLC (LSE:ONDO) chief executive Craig Foster and Hiscox Ltd (LSE:HSX) vendor relationship manager Chris Parker speak to Proactive following the announcement that Ondo will continue to provide its LeakBot product to the insurance group.
The device is designed to be used in homes to detect water leaks early, so that users are less likely to need to make an insurance claim for water damage.
Ondo InsurTech and Hiscox have been working together for three years already but Parker says it's "still very early days" and his hope is that as the product is rolled out more widely it will improve loss ratios and increase customer retention.
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