Ondo InsurTech plc (LON: ONDO) Quadruple Production Capacity – Anticipate High US Demand [Video]

Ondo’s water leak tech gained strong interest from major US insurance carriers at ITC Las Vegas, with millions of homes in their pipeline. With this in mind, Ondo has ramped up production capacity and is planning to quadruple output to meet demand.

New partnerships and major announcements are expected by year-end.

Craig Foster, CEO of Ondo InsureTech, highlighted the strategic move as a response to the burgeoning demand in the United States. Over the past year, Ondo has signed partnerships with five U.S. insurers, including Nationwide, one of the largest insurance companies in the country. The company has launched its LeakBot system in four U.S. states and is in late-stage discussions with several large U.S. insurance firms for new contracts and expansions with existing partners.

LeakBot, Ondo’s flagship product, is designed to prevent water damage claims, which constitute …