Ondo Expands LeakBot Rollout Nationwide with Selective Insurance

Ondo InsurTech Plc ( (GB:ONDO) ) has issued an update.

Ondo InsurTech Plc, which partners with 26 insurance carriers across Europe and the U.S. and holds the London Stock Exchange’s Green Economy Mark, specialises in water damage prevention through its LeakBot technology. The company targets the sizable home insurance market, where water damage generates an estimated $17bn in annual claims in the U.S. and UK combined.

Ondo has expanded its contract with Selective Insurance to roll out LeakBot across Selective’s 15-state personal lines footprint, making the device available to all eligible homeowners policyholders. The nationwide expansion, following a successful pilot and multi-state rollout begun in 2024, underscores Selective’s role as an early adopter of Ondo’s customer engagement strategy and signals growing traction for LeakBot as a loss-prevention tool for insurers and their customers.

The most recent analyst rating on (GB:ONDO) stock is a Sell with a £15.00 price target. To see the full list of analyst forecasts on Ondo InsurTech Plc stock, see the GB:ONDO Stock Forecast page.

Spark’s Take on GB:ONDO Stock

According to Spark, TipRanks’ AI Analyst, GB:ONDO is a Neutral.

Ondo InsurTech Plc’s overall stock score is primarily impacted by its weak financial performance and technical analysis indicators, both of which suggest significant challenges. However, positive corporate events, including successful fundraising and strategic expansions, provide some optimism for future growth.

To see Spark’s full report on GB:ONDO stock, click here.

More about Ondo InsurTech Plc

Ondo InsurTech Plc is a London-listed provider of claims prevention technology for home insurers, focused on scaling its patented LeakBot device globally. LeakBot is a self-install sensor that connects to a home’s wireless network to detect leaks, alert customers via a mobile app, and dispatch engineers, helping cut water damage claims, the largest source of home insurance losses, by up to 70%.

Average Trading Volume: 783,302

Technical Sentiment Signal: Sell

Current Market Cap: £25.09M

For detailed information about ONDO stock, go to TipRanks’ Stock Analysis page.