Ondo InsurTech PLC on Monday said it has signed a new affiliate partnership with Waterwise.

Ondo is a London-based claims prevention technology firm for home insurers.

‘Waterwise are the UK’s independent conscience on water efficiency and experts in water efficiency policy, regulation, research, behaviour and campaigns,’ Ondo said.

Under the agreement, Ondo and Waterwise will collaborate to promote the wise use of water, including supporting the rollout of technologies such as LeakBot that can help reduce pressure on the UK’s water resources. LeakBot is a smart water leak alarm that spots hidden leaks.

Ondo added that LeakBot can reduce household leaks by 60%.

Chief Executive Officer Craig Foster said: ‘We have already learned a lot from Waterwise and they have helped us better understand what a material difference we could make in the UK. Bringing together the insurance and water sectors to deploy LeakBot makes sense, as costs are reduced for both parties and together, we have something really scalable that can have a profound environmental impact.’

Shares in Ondo were up 2.4% to 26.52 pence each in London on Monday afternoon.

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