Ondo InsurTech PLC CEO Craig Foster talked with Proactive's Stephen Gunnion about the company’s continued expansion in the US, following the latest agreement with Privilege Underwriters Reciprocal Exchange (PURE). The high-net-worth insurer has expanded its use of Ondo’s LeakBot technology beyond its pilot in New York into six more states—Indiana, North Carolina, New Jersey, Ohio, Pennsylvania, and Washington.
Foster explained that PURE initially wanted to test the company’s customer service capabilities, given its clientele of affluent homeowners. He noted that Ondo has already proven its ability to meet high standards, having worked with UK-based high-net-worth insurers such as Hiscox.
Discussing the broader US expansion, Foster highlighted that this marks the latest partnership to scale up since Nationwide expanded LeakBot into 16 states. Ondo follows a state-by-state expansion model, securing lead partners in each new region before adding more insurers to drive further adoption.
Looking ahead, Foster will travel to Tennessee for a key industry think tank, a strategy inspired by Whisker Labs' success in growing its own home safety technology across the US. Foster emphasized that the company faces no direct competition in a $17 billion market, presenting a major opportunity for growth.
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