Ondo expands US footprint with new partnership

London-based Ondo has expanded its US footprint by forming a new partnership with property and casualty firm Pure Insurance.

A statement released today (8 August 2023) said the move is set to see Pure pilot a programme, where it will distribute Ondo’s Leakbot system to a portion of its membership in select states.

The system is designed to reduce water damage claims costs.

Craig Foster, chief executive of Ondo, said: “We are very pleased to announce this new agreement today, which demonstrates further validation by US insurers.”

’Greater emphasis’

This came after the insurtech revealed that it increased its revenue by £1.5m in under two years in a trading update published last week (3 August 2023).

Foster said that the firm was “looking forward to working” with Pure, which opened more than 15 years ago.

It currently has more than 100,000 individuals and families across the US as policyholders.

Jason Metzger, head of risk management at Pure Insurance, said: “We’re placing a greater emphasis on risk management and working hard to find solutions that can aid in reducing the occurrence of preventable claims for our membership – like those relating to water damage.

“Technologies like Leakbot allow our members to play an even greater role in loss prevention by identifying small leaks before they turn into large claims.”