Ondo InsurTech PLC (LSE:ONDO) said it has strengthened its presence in the US as it signed an agreement with a regional insurer in Washington state.
Member-owned insurer Mutual of Enumclaw, which has around 100,000 homeowner insurance customers, will initially provide 10,000 of Ondo’s LeakBot devices for installation in customers’ homes, the London-listed company said in a statement.
This initial batch of units will start being installed from August, with the expectation that they will be rolled out within six months.
Ondo InsurTech chief executive Craig Foster said the agreement “represents another important step on our path to build a strong presence in the United States” and the company hopes to grow the relationship over time.
Jerel Titus of Mutual of Enumclaw highlighted the LeakBot’s ease of use and overall effectiveness in detection and prevention of leaks, saying the solution is “a perfect fit to protect our Mutual of Enumclaw members”.
This deal follows last month’s fundraising and April’s agreement with US business process management group WNS Holdings to fast-track the deployment of LeakBot in North America.
Elsewhere around the world this year there have been deals with a Danish insurer and the launch of a roll-out in Sweden after a successful pilot scheme.
