Proactive Investors - Ondo InsurTech PLC (LON:ONDO) has announced uptake of its LeakBot devices in the US under a partnership with insurer Nationwide is exceeding expectations.
Deliveries of the water claims prevention technology have begun in Cincinnati, Ohio and Missouri, Ondo said on Monday.
Having been sent directly to customers, unsolicited, Ondo said the installation rate among homeowners was above 70%, “significantly ahead of expectations”.
Fortune 100 insurer Nationwide will ship the remainder of the 6,000 LeakBot devices from its initial order over the coming weeks, mainly in Ohio.
“We have been pleased with the install rates in Ohio, and we are exploring which states we can expand to next,” Nationwide personal lines product development vice president Sarah Jacobs said.
“We are thrilled that the first Nationwide deployments have gone well, and we are now in homes repairing leaks and preventing claims,” Ondo chief executive Craig Foster added.
“Nationwide is a key partnership for us in the United States and we are excited to keep exceeding expectations.”