Ondo Insur Tech Plc · LSE:ONDO
Ondo Insur Tech — H1 2022 Earnings Presentation
19 slides from Ondo Insur Tech's earnings presentation, August 2022
Slide 1: Half Year Results 2022 Investor Presentation
Half Year Results 2022 Investor Presentation
Slide 2: Disclaimers
Disclaimers The information contained in these slides and this presentation is being supplied to you by Ondo InsurTech PLC Whilst all reasonable care has been taken to ensure that the facts stated in these slides and this presentation are accurate (the “Company” or “Ondo”) solely for your informatio
Slide 3: Welcome to Ondo InsurTech PLC First Results Call
Welcome to Ondo InsurTech PLC First Results Call TODAY’S AGENDA 1. Business overview 2. First Half-year results 3. Q&A Craig Foster Kevin Withington Founder and CEO CFO
Slide 4: At A Glance
At A Glance Massive opportunity Attractive Growth Model • Ondo: world leader in claims • 11 live blue-chip insurance prevention tech for home insurers partners in 4 countries • Trend - Insurance shifting towards using tech to manage • Offer device for free and repairs risk and prevent claims for fre
Slide 5: From Corporate Lab to first InsurTech to list in London
From Corporate Lab to first InsurTech to list in London R&D PHASE COMMERCIALISATION 2015 2016 2019 2021 2022 • HomeServe Labs • LeakBot concept • WIFI version • Hiscox rollout in 2020 • RTO with Spinnaker formed created developed Acquisitions PLC • 7 more insurers signed completed • New-to-world way
Slide 6: We are a world leader in claims prevention technology for home insurers
Who we are What we do Mark Wood Andrew Morrison Stefania Barbaglio Chairman Non-Exec Director Non-Exec Director We are a world leader in claims prevention technology for home insurers Craig Foster Helen Lonsdale Nick Lobban Founder and CEO Partnerships Director Operations Director …focussed first on
Slide 7: Major Home Insurance peril: Small leaks, hidden from view
Major Home Insurance peril: Small leaks, hidden from view… Damage from water leaks £14 BN 1.6m Claims each year in USA + UK …causing Big damage over time
Slide 8: LeakBot's Water Damage Prevention System
LeakBot’s Water Damage Prevention System Unique Technology Integrated Service Proven GTM Model Self-install low-cost sensor Fix root cause of problem Device offered for FREE Detects leak anywhere on mains All data fed back to insurer via Repairs offered FREE water in a house software platform Insure
Slide 9: Patents issued and allowed
29 Ambient Air Water Patents issued Temperature Temperature and allowed Micro-leak test Micro-leak = Leak free Detected!
Slide 10: Proven Results: For Insurers, Homeowners and the Planet
Proven Results: For Insurers, Homeowners and the Planet For Insurers For Homeowners For Sustainability 70% reduction in claims costs based on 4.8/5 Trust Pilot Score 30 litres/day saved with each leak 3rd party research by Consumer resolved Intelligence 40% customers more likely to stay with insurer
Slide 11: Our Strategy
Our Strategy Cash positive revenue from up- Now front hardware sales 1. Focus on UK, USA, Scandinavia Install more devices in 2. Sign new partners for LeakBot homes 3. Expand with existing partners Sign more Detect 4. Cash-flow positive new business partnership more leaks deals 5. Grow recurring rev
Slide 12: Half Year Results: Partners
HALF YEAR RESULTS SIGNING NEW PARTNERS EXPANSION WITH EXISTING PARTNERS • Leading UK home insurer with • Prestigous high-net-worth 1.3m customers insurer • Committing to min 20,000 units • LeakBot’s first roll-out customer in next 6 months in 2020 • Renewal contract signed • Denmark’s lagest member-
Slide 13: Core customer growth
HALF YEAR RESULTS Core customer growth REVENUE £1m +55% HARDWARE + SETUP FEES NEW DEVICES SOLD £0.6m +50% 16,000 +170% RECURRING SOFTWARE + REGISTERED CUSTOMERS SERVICES ON PLATFORM £0.4m +59% 46,000 +43%
Slide 14: Solid Unit Economics
HALF YEAR RESULTS Solid Unit Economics GROSS CONTRIBUTION £0.5m +188% GROSS MARGIN 49% +23 %pts
Slide 15: Managing Cashflow Towards Breakeven
HALF YEAR RESULTS MANAGING CASHFLOW TOWARDS BREAKEVEN CASH FROM CUSTOMERS £0.9m +120% ADMINISTRATIVE EXPENSES £1.8m +7%
Slide 16: Summary
Summary ● Massive opportunity ● Initial Focus on huge global problem – water damage ● Proven proprietary technology ● Attractive growth model ● 1st Interim results showing growth potential
Slide 17: Ondo InsurTech Plc
Ondo InsurTech Plc 6th Floor 60 Gracechurch Street, London, United Kingdom, EC3V 0HR ONDOPLC.COM LSE:ONDO
Slide 18: For Further information
For Further information SI Capital Ltd 67 Grosvenor Street London England W1K 3JN Contact number 01483 413500 Contact email nick.emerson@sicapital.co.uk www.ondoplc.com
Slide 19: Industry Frustration…. Can IOT deliver?
Industry Frustration…. Moisture sensors do not deliver claims reduction Can IOT Low cost deliver? Prevents claims No claim reduction Expensive Plumbed-in flow sensors are high cost, need pro install so are niche