Contract Win

Ondo Insurtech (LSE: ONDO), a leading company in claims prevention technology for home insurers, is pleased to confirm that Westfield Insurance ("Westfield") has signed a contract with LeakBot USA Inc.

Westfield will begin by deploying 10,000 LeakBot devices and connected services for homeowners' insurance customers in Ohio, Indiana, and Pennsylvania, states in which Ondo has existing client coverage. Consistent with other commercial contracts, the agreement involves upfront payments ahead of anticipated shipments.

This initiative reflects Westfield's continued investment in proactive claims prevention, leveraging innovative technology to help customers detect and address water leaks early, reduce loss costs, and enhance the overall customer experience.

Craig Foster, Ondo CEO, says: "We are pleased to partner with Westfield and look forward to providing them with the same compelling results we are delivering to all our insurance company partners worldwide."

Founded in 1848, Westfield is a leading U.S.-based property and casualty insurer. The company underwrites commercial, personal, surety, and specialty lines of coverage through a network of independent agents and brokers. With the acquisition of Lloyd's of London Syndicate 1200, in February 2023 Westfield has expanded its reach as a global insurance franchise.