Ondo Insurtech has partnered with the National Farmers Union Mutual Insurance Society Limited (NFU Mutual) to introduce its LeakBot technology to the insurer’s customers. This collaboration, starting in October 2024, will initially deploy 17,000 LeakBot units by January 2025.
LeakBot’s technology detects and prevents water leaks, a common and costly problem for both homeowners and insurers. By offering early detection, it helps insurers reduce the frequency and severity of water damage claims, saving costs and improving policyholders’ experience.
A broader implementation across NFU Mutual’s membership will follow. For Ondo, this marks a next step in reducing household water damage claims through its advanced technology.
Ondo, the first insurtech firm to list on the London Stock Exchange in March 2022, continues to expand its reach. The company, formerly known as LeakBot, now partners with 19 insurance carriers in Europe and the U.S., highlighting the demand for its claims prevention solutions.
This deal with NFU Mutual highlights LeakBot’s proven ability to reduce water damage claims while providing excellent customer service
Craig Foster, CEO of Ondo Insurtech
NFU Mutual, one of the UK’s largest insurers with over 900,000 customers, sees this as an opportunity to scale LeakBot technology. The insurer’s adoption of LeakBot aligns with the broader trend of traditional insurers embracing insurtech for better service and risk management.
Phil Cooper, Propositions Manager at NFU Mutual, noted: “This partnership with LeakBot provides an effective early warning system to help our customers before problems escalate.”
The partnership comes as Ondo continues its U.S. expansion, recently launching in Washington state with major insurers Nationwide and Pure, following successes in Ohio and New York.
Craig Foster concluded: “This partnership with NFU Mutual shows how insurtech can transform the traditional insurance industry by preventing claims and improving customer experiences, ultimately reshaping insurance for the digital age.”
by Peter Sonner
