Ondo Secures First U.S. LeakBot Contract Through vipHomeLink Alliance

Ondo InsurTech Plc (LSE:ONDO) has taken a significant step in its U.S. expansion after winning its first American insurance customer for its LeakBot water damage prevention system via a partnership with vipHomeLink. The company targets the estimated $17 billion annual water damage claims market across the U.S. and UK, working with 26 insurers and holding the London Stock Exchange’s Green Economy Mark for its focus on reducing loss-related environmental impact.

LeakBot is designed as a self-install device that connects to a home’s Wi-Fi network, identifies hidden leaks and coordinates repairs through a mobile app and a network of engineers. Ondo collaborates with insurers to integrate the technology into their claims prevention strategies, aiming to lower claims frequency and severity.

Under the new agreement, The Co-operative Insurance Companies will introduce LeakBot to policyholders in Vermont and New Hampshire. Ondo described the deal as an important milestone in its U.S. go-to-market plan. By leveraging vipHomeLink’s regional platform and co-branded marketing capabilities, the company aims to penetrate local and specialist insurers, build density in targeted markets and complement its direct relationships with larger national carriers. Additional launches through this channel are anticipated.

While the strategic progress supports Ondo’s international growth ambitions, the company’s broader outlook remains shaped by weak financial performance and challenging technical indicators. Nonetheless, recent corporate activity—including fundraising initiatives and expansion into new markets—offers a degree of forward-looking optimism.

More about Ondo InsurTech Plc

Ondo InsurTech Plc is a London-listed technology provider focused on claims prevention solutions for home insurers worldwide. Its patented LeakBot device connects to household wireless networks to detect water leaks, notify homeowners via a mobile app and arrange repairs through specialist engineers. Research suggests the system can reduce water damage claim costs by up to 70%. The company partners with 26 insurers across Europe and the U.S., including Nationwide, Admiral and Hiscox, and derives the majority of its revenue from environmentally beneficial activities linked to loss prevention.