Ondo InsurTech Secures Westfield Contract to Deploy LeakBot Devices in US

Ondo InsurTech PLC, a London-based claim prevention technology firm, announced that its U.S. subsidiary, LeakBot USA Inc, has secured a contract with Westfield Insurance, a property and casualty insurer based in Ohio.
The agreement involves deploying 10,000 LeakBot devices and connected services targeting homeowners' insurance customers in Indiana, Ohio, and Pennsylvania, states where Ondo already has client coverage. LeakBot technology focuses on preventing water damage in residential properties, aligning with broader insurance industry efforts to mitigate claim risks through innovative technology.

The contract includes upfront payments preceding the shipment of devices, reflecting standard commercial contract practices in the insurance technology sector. This partnership signifies a strategic move for Westfield Insurance to enhance its risk prevention capabilities and potentially reduce claims related to water damage by integrating advanced IoT devices.

Ondo has emphasized its commitment to scaling LeakBot technology, highlighting the global applicability of its claims prevention solutions and positioning itself as a key player in the insurtech market. The deployment in these three states is a significant step to expand its footprint within the U.S. property and casualty insurance market.

Following the announcement, Ondo InsurTech's shares saw a slight increase in London trading, indicating a positive market reception. The partnership with Westfield is expected to drive sustained growth for Ondo as insurers increasingly adopt technology-driven preventive measures to manage claims more effectively.

This development aligns with ongoing trends in the insurance industry toward leveraging connected devices for proactive risk management and improving insurer policyholder services. The adoption of LeakBot technology represents an example of how insurers are utilizing AI-driven and IoT-enabled solutions to enhance underwriting and claims efficiency in the homeowners insurance segment.