(Alliance News) – Ondo Insurtech plc announced on Monday that it has entered into a new partnership with Waterwise.
Ondo is a London-based loss prevention technology company for home insurance companies.
“Waterwise is the independent UK water efficiency conscience and experts in water efficiency policy, regulation, research, practice and campaigning,” said Ondo.
Under the agreement, Ondo and Waterwise will work together to promote smarter use of water, including supporting the rollout of technologies such as LeakBot to help reduce pressure on the UK’s water resources. LeakBot is a smart water leak alarm that detects hidden leaks.
Ondo added that the leakbot will reduce domestic leakages by 60%.
CEO Craig Foster said: “We’ve already learned a lot from Waterwise and they’ve helped us understand what a real difference we can make in the UK. It makes sense to bring the insurance and water industries together to use LeakBot as it cuts costs. For both parties And together we have something that can really scale and have a big impact on the environment.
Ondo shares were up 2.4% at 26.52 pence apiece in London on Monday afternoon.
By Sophie Rose, correspondent for Alliance News
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