Ondo InsurTech
Sustainable Risk Reduction
Overview
Ondo InsurTech is a world-leading provider of IoT-based claims prevention technology for home insurers. The company's core product, LeakBot, is a patented self-install sensor that clips onto a pipe near the home's main water supply, connects to the home WiFi network, and monitors for water leaks using proprietary Thermi-Q technology. When a leak is detected, it notifies the homeowner via a mobile app and provides access to expert engineers for a "find and fix" repair service.
Founded in 2016 as LeakBot within HomeServe Labs by Craig Foster, the company went public on the London Stock Exchange in March 2022 via a SPAC reverse merger — becoming the first InsurTech to IPO in London. Ondo partners with 25+ insurance carriers across the UK, Scandinavia, the USA, and Australia/New Zealand. Water damage is the single biggest cause of home insurance claims, accounting for $17 billion in claims annually in the USA and UK combined.
The company has demonstrated strong growth, with 44% revenue growth in FY2025 (year ended March 2025) and 400% year-over-year growth in the US market. Independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by up to 70%.
Products & Services
LeakBot Sensor
Patented IoT device with Thermi-Q technology that monitors water flow and temperature to detect even micro-leaks.
Key Features
- Self-install with 80%+ installation rate
- Micro-leak detection
- WiFi connected real-time monitoring
- Patented Thermi-Q technology
- All-weather variant for different plumbing systems
Target Users: Homeowners (deployed by insurance carriers)
LeakBot Mobile App
Smartphone application for homeowner notifications and leak management.
Key Features
- Real-time leak alerts
- Guided remediation steps
- Find and fix repair service access
- Device health monitoring
Target Users: Homeowners
Insurer Integration Platform
B2B platform enabling carriers to integrate LeakBot into smart home programs.
Key Features
- Carrier program management
- Customer deployment tracking
- Claims impact analytics
- Multi-state regulatory support
- White-label integration options
Target Users: Insurance carrier innovation teams, claims departments
At a Glance
- Founded
- 2016
- Headquarters
- London, United Kingdom
- Employees
- 11-50
- Funding
- Public (LSE: ONDO)
Category & Focus
- Category
- IoT & Connected Insurance
- Subcategories
- Claims Prevention Smart Home Water Damage Detection
- Insurance Verticals
- P&C Personal
- Target Customers
- Carriers
Customers
- Nationwide (Fortune 100; deployed across 26 US states)
- Liberty Mutual (pilot in 4 states)
- Hiscox (integrated across entire UK customer base)
- Admiral (UK)
- Direct Line Group (UK)
- NFU Mutual (17,000 units)
- Indiana Farm Bureau Insurance (10,000+ homes)
- Mutual of Enumclaw (10,000 systems)
- Westfield Insurance (10,000 devices)
- PURE Insurance (7+ states)
- Selective Insurance
- SageSure
- Mapfre
- TopDanmark (Denmark)
- LB Forsikring (Denmark; 17,500 devices)
- Lansforsakringar (Sweden; 5-year deal)
- Covea Insurance (UK)
Last updated: 2026-03-25