LeakBot: Providing an end-to-end water damage prevention system
Jolijn Schalkwijk
Water damage is costly and can lead to big claims. LeakBot prevents small leaks from becoming big claims for home insurers, reducing water damage claims by 70%.
LeakBot provides an end-to-end escape-of-water claims mitigation service with a proven track record for reducing claims costs while delivering quality customer service. LeakBot is a self-installed sensor provided to homeowners for free and integrated with an in-home repair service to find and fix the water leaks that cause home insurance claims.
How it works
LeakBot’s patented Thermi-Q technology measures the air and water temperatures in the customer’s home. A leak continually draws colder water from outside into the customer’s home, creating a consistent drop in temperature. LeakBot can sense the prolonged and consistent drop in temperature and alerts the problem to the customer through the LeakBot app.
Why we selected LeakBot for ITC DIA Europe
Home insurers are seeing an increase in ‘escape of water’ claims costs and are looking for innovative ways to manage this impact, without detriment to the customer experience. LeakBot provides the leak sensor, customer support, and repair services to ensure leaks are fixed before they become bigger problems, preventing costly claims and inconveniences for customers.
LeakBot won a DIAmond award at DIA Amsterdam 2019! This year, LeakBot announced the impact the solution has already had on Länsförsäkringar after 2 years of rollout, with a 40% reduction in claims costs, an increase in new customer sales, and an increase in loyalty. Craig Foster, CEO of Ondo InsurTech PLC, and Andreas Fahlstedt, Head of Business and Marketing of Länsförsäkringar Sormland shared this case study in Amsterdam last June.
Who is LeakBot?
LeakBot Limited is part of Ondo InsurTech PLC, a provider of claims prevention technology for home insurers. Ondo's focus is on the global scale-up of LeakBot – a 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 already partners with 16 insurance carriers both in Europe and the USA.
“Five years ago we attended DIA to reveal a revolutionary technology called LeakBot which had been designed specifically for the insurance industry to prevent water damage claims. It was a pleasure to be able to present again this year on the success we’ve had with 16 insurers across 4 countries” – Craig Foster, Founder and CEO of Ondo InsurTech
