Business
Ondo incorporates LeakBot USA Inc and hires GM
Ondo incorporates LeakBot USA Inc and hires GM.
About this update from Ondo Insur Tech Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0569H\n Ondo InsurTech PLC\n 04 April 2022\n \n \n \n \n 4th April 2022\n \n \n Ondo InsurTech Plc (\"Ondo\" or \"the Company\")\n \n \n Ondo incorporates LeakBot USA Inc and hires General Manager for North America with goal of expanding LeakBot across the United States\n \n \n Ondo InsurTech Plc (\"Ondo\"), the London-listed insurtech company boasting a proprietary, patented water management security technology, announces that it has incorporated LeakBot USA Inc and has appointed Jim Strickland as General Manager for North America to spearhead the North American expansion. \n \n \n Highlights\n \n \n - \n Leakbot USA Inc. was incorporated in the state of Delaware on 22 March 2022\n \n \n - \n Jim Strickland has been appointed as General Manager for North America effective April 1st\n \n \n - \n LeakBot is currently operational in 2 US states. \n \n \n Jim Strickland has been appointed to spearhead the US expansion of LeakBot. Jim joins the Senior Executive team of Ondo InsurTech Plc and will also be a Board Director of LeakBot USA Inc. Jim has over 3 decades of experience in building transformational B2B relationships in the Property and Casualty (\"P&C\") industry, is well known across the industry and has domain-specific expertise in what works and (what does not) in the field of using IOT and in-home repair services to deliver ROI for P&C carriers.\n \n \n LeakBot is a non-invasive self-installed device that can detect a leak anywhere on the mains water pipes. The technology offers the accuracy of leak detection usually seen in high-cost plumbed-in systems, for the price of low cost but ineffective moisture sensors. The technology enabling LeakBot is proprietary and is protected by a set of patents already granted in the United States. \n \n \n \n \n \n US Market Opportunity\n \n \n The US market is a significant opportunity for the LeakBot product\n \n \n \n ·\n \n Homeowners' insurance in the USA is a $100 billion annual premium business\n \n \n \n · \n \n US households incur $16.5 billion of homeowners' insurance claims annually for escape of water damage, with an average claim value of $11,000. That is approximately 1.5 million claims a year - equivalent to one claim every 20 seconds\n \n \n \n ...