Ondo InsurTech Plc announced a new partnership with Fortune 100 insurance company Nationwide to offer the LeakBot device to U.S. homeowners insurance customers as part of the insurer's Smart Home Program. Nationwide has led innovation in the U.S. with its Smart Home Program - a new innovative way for the company's homeowners insurance customers to keep their homes safe with connected, smart devices that can notify customers of potential hazards in their homes. Nationwide has now selected LeakBot as a water damage prevention system that can be offered within the program.

This new offering will help to fill a common protection gap that many homeowners may face. According to a new Agency Forward survey from Nationwide, less than 10% of homeowners utilize smart sensors that can monitor water leaks or flow in their homes, despite water damage being a leading cause of non-weather claims. Nationwide and Ondo are now working towards the first state launch which is planned for early in 2024 - details to be announced at a later date. Following the successful deployment, the companies intend to expand into additional states in 2024 and beyond.