Ondo InsurTech PLC (LSE:ONDO) CEO Craig Foster talked with Proactive about the company’s latest trading update and its expanding presence in the United States. The company has signed a pilot deal with Liberty Mutual Insurance, one of the largest home insurers in the US, marking a significant milestone in its growth strategy.
Foster highlighted that Liberty Mutual is the sixth-largest personal lines insurer and a Fortune 100 company. This new partnership follows Ondo’s successful collaboration with Nationwide, which expanded its LeakBot rollout from Ohio to 16 states. The company’s US operations now account for 65% of new business growth, with a remarkable 400% year-on-year increase.
Revenue is forecasted to grow by 70% this year, and achieve profitablity in the second half of the next financial year. Foster emphasised that a shift to a prepayment model has eliminated the need for additional capital raises, strengthening the company's financial position.
Beyond the US, Ondo continues to grow in the UK and Scandinavia. A new partnership with NFU in the UK is already showing positive results, further reinforcing the company’s expansion strategy.
Watch the full interview to learn more about Ondo InsurTech’s latest developments. Don't forget to like this video, subscribe to our channel, and turn on notifications for more updates from Proactive.
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