11 April 2025

Ondo InsurTech Plc

("Ondo" or the "Company")

The Hanover to pilot LeakBot in the United States

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

The Hanover will pilot the LeakBot device and service to a limited number of their homeowners' insurance customers in two US states. Consistent with other commercial contracts, the agreement involves upfront payments ahead of anticipated shipments. 

Craig Foster, CEO of Ondo InsurTech, commented: "We are pleased to partner with The Hanover on this pilot agreement and look forward to providing The Hanover with the same compelling results we are delivering to all our insurance company partners worldwide."

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About Ondo InsurTech Plc

Ondo is a world leading provider of claims prevention technology for home insurers. Ondo's focus is on the global scale-up of LeakBot - claims prevention technology that prevents water damage claims in houses. Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined. LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to 'find and fix' the problem. Independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by up to 70%.

LeakBot partners with 24 insurance carriers - including Nationwide, Admiral, Direct Line Group, Hiscox, Länsförsäkringar and TopDanmark - both in Europe and the USA.

Ondo holds the coveted London Stock Exchange Green Economy Mark awarded to companies who derive the majority of their income from Green activities.

For more information, visit www.ondoplc.com