Following on from the success the partnership has seen over the last three years, the renewed contract will see Hiscox continue to offer LeakBot to new and existing customers through its direct customer journey and broker network.
Earlier this year, Ondo rolled out its services in its third, US state, and will continue to expand its state-side services through an ambitious expansion strategy.
Meanwhile, Hiscox has a robust, marketplace reputation and is a leading specialist insurer in the UK, with over 60k home insurance policies.
The insurtech has benefitted from introducing the LeakBot system since 2019 and plans to continue to roll out devices to more of its customer base.
The new signing follows the release of the Consumer Intelligence independent research which found that insurers save 70% in water damage claims by introducing LeakBot.
Ondo and Hiscox continue to provide IoT solution to wide customer base
Speaking about the renewed partnership contract, Cheralyn Perry, Head of Art and Private Clients Distribution at Hiscox, says: "LeakBot have been helping Hiscox customers to minimise the frequency of leaks and the impact of any water damage for a while now. Escape of water incidents is disruptive and costly, which is why preventative technologies like this are so important. We're pleased to be continuing our partnership with LeakBot as the results so far have been excellent."
Craig Foster, CEO of Ondo InsurTech Plc, added, "Hiscox was one of the early adopters of LeakBot and we're proud of the success we've seen with Hiscox so far. We look forward to continuing to support them with their efforts to increase the rollout of LeakBot to their new and existing customers."