Ondo InsurTech lands contract with top US insurer Nationwide to provide LeakBot to US customers

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Ondo InsurTech PLC CEO Craig Foster joined Proactive's Stephen Gunnion with news of a new partnership with Fortune 100 US insurance company Nationwide to provide Ondo's LeakBot to its US customers as part of its Smart Home Program.

Foster explained that Columbus, Ohio-based Nationwide is one of the largest insurance and financial services organizations in the US with 2.5 million homeowners insurance customers.

Nationwide has led innovation in the US with its Smart Home Program – a new innovative way for homeowners insurance customers to keep their homes safe. Participants in the program receive a discount on their insurance premiums. The Program has been a success and is live in 34 states, distributing smart devices such as the Ting sensor to prevent household fires.

Foster said Nationwide has now selected LeakBot as a water damage prevention system that can be offered within the program. The two companies have signed an ongoing Master Services Agreement, and have started work on the IT integration of LeakBot’s APIs into the Nationwide Smart Home platform.

Nationwide and Ondo are now working towards the first state launch planned for early 2024. Following the successful execution of the first order, the intention is to expand this into other states in 2024.