Ondo's LeakBot Expands Across US
Insurtech firm Ondo is expanding its LeakBot water leak prevention technology to all 15 states where Selective Insurance operates. The deal marks a significant US market expansion for the leak detection and mitigation solution, a key tool for reducing property claims.
The full-scale rollout follows a successful single-state pilot program that began in February 2024 and was later expanded to more states that same year. The new agreement makes LeakBot's technology available to all of Selective's eligible homeowner policyholders across its 15-state personal lines footprint. The expansion will bring LeakBot's water leak prevention technology to homeowners in Arizona, Illinois, Indiana, Iowa, Maryland, Minnesota, New Jersey, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Utah, Virginia, and Wisconsin. Selective's Personal Lines make up 9% of its business. Water damage is a significant issue for insurers, representing the largest single cause of home insurance claims in the US and UK, with annual claims totaling $17 billion. The average insurance payout for a water damage claim in the U.S. is approximately $12,514. Independent research has shown that LeakBot can reduce the cost of water damage claims by up to 70%. The system is designed to detect small leaks before they can cause significant damage, a crucial preventative measure as one in five homes will experience a water leak each year. Ondo CEO Craig Foster stated, "This nationwide rollout is a strong endorsement of the results we have delivered together, and we are delighted to be deepening our relationship with a carrier that truly shares our vision for the future of insurance." Allen Anderson, Selective's Senior Vice President of Personal Lines, noted that "LeakBot's innovative technology can help our customers reduce the risk of water-related property damage." The partnership is a key part of Ondo's U.S. expansion strategy, which has seen the company partner with 26 insurance carriers across Europe and the United States. For Selective, it represents a commitment to leveraging technology to mitigate risk and improve outcomes for their customers.
