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ONDO Ondo Insurtech Plc

15.00
0.00 (0.00%)
25 Jun 2024 - Closed
Delayed by 15 minutes
Ondo Insurtech Investors - ONDO

Ondo Insurtech Investors - ONDO

Share Name Share Symbol Market Stock Type
Ondo Insurtech Plc ONDO London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 15.00 08:00:00
Open Price Low Price High Price Close Price Previous Close
15.00 15.00 15.00 15.00 15.00
more quote information »
Industry Sector
GENERAL FINANCIAL

Top Investor Posts

Top Posts
Posted at 13/3/2024 16:08 by premium beeks
Easier to go straight to the website.HTTPs://www.ondoplc.com/investors/significant-shareholders/Less than 50%, so not too big.
Posted at 13/3/2024 14:35 by idlejack
I think you are correct. The management holding is easy to check and the holders above TR1. I've had the feeling there are quite a few investors that see the potential here and have been holding and not selling. If anyone wanted to take a major stake they might struggle.
Posted at 12/3/2024 15:32 by tom5boy
Someone I am sure can tell me but from memory there’s
a large percentage of shares in a few investors hands.
Posted at 15/9/2023 11:22 by boysie72
Just a reminder that Ondo will be showcasing Leakbot in Vegas at the end of the month at ITC Insuretech Connect. .ITC Vegas is the world's largest insurtech event – offering unparalleled access to the most comprehensive and global gathering of tech entrepreneurs, investors, and insurance industry leaders..https://vegas.insuretechconnect.com
Posted at 26/8/2023 07:47 by purple11
SMALL CAP IDEA: Ondo InsurTech set to plug more leaks

By William Farrington At Proactive Investors For This Is Money

Updated: 14:46, 21 August 2023

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They say you should build when the market is down. One company taking that axiom to heart is Ondo InsurTech.

Ondo, if you didn't guess by the name, is an insurance technology company and the creator of a cute little gadget called LeakBot.

LeakBot's household leak-detection capabilities have opened the floodgates to a raft of commercial partnerships for Ondo, with insurance, and, increasingly, water utilities companies deploying the device to their extensive customer bases.

Since going public in March 2022, Ondo has inked major deals with leading insurance carriers, including Admiral and Hiscox in the UK, plus two prominent UK water companies, Southern Water and Portsmouth Water.

Southern Water is set to introduce LeakBot to over 1,000 customers in an upcoming pilot, aiming to replicate the impressive 60 per cent reduction in water leaks achieved in the Portsmouth Water trial.
Plugging leaks: Ondo is an insurance tech company and creator of a gadget called LeakBot
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Plugging leaks: Ondo is an insurance tech company and creator of a gadget called LeakBot

Ondo has also partnered with Waterwise, a leading water efficiency organisation, to promote leak-preventing technologies.

Internationally, Ondo has penned a five-year deal with Länsförsäkringar Trygghetstjänster, Sweden's largest non-life insurer, introducing LeakBot to its two million customers.

Additionally, a proof-of-concept pilot with Firemark Collective, the innovation arm of IAG, Australia's largest general insurer, is in the works.

LeakBot expanded its reach into US via a go-to-market partnership with global business process management company WNS in April.

Further expanding its reach, Ondo recently announced a strategic partnership with US-based PURE Insurance. This collaboration aims to distribute the LeakBot system to select PURE members, enhancing risk management and reducing preventable claims.
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Quite a busy contract-signing schedule packed into the first seven months of 2023.

But why is LeakBot causing such a buzz?

Firstly, the scale of the problem Ondo wants to fix with LeakBot is formidable.

In the US, over one trillion gallons of water are lost to leaks every year. Water damage claims comprise 28 per cent of insurance claims paid, topped only by weather incidents.

In the UK that figure is closer to 30 per cent, making water damage the number-one source of claims paid.

Independent research conducted by insurance benchmarking firm Consumer Intelligence on 43,000 LeakBot devices deployed by nine UK carriers showed a 39 per cent reduction in water claims frequency and a 51 per cent reduction in severity.

Claims cost per policy fell 70 per cent, from $209 to $63, suggesting an average $146 saving on homeowners' policies.

LeakBot achieves these results through the use of highly sensitive heat sensors that detect when a house's main pipe is delivering water when it shouldn't.

There are other leak detectors on the market, but they are generally expensive and require professional installation. LeakBot, on the other hand, is relatively cheap to produce and user-friendly.

LeakBot makes educated guesses as to what are and aren't leaks by deploying algorithms that track a household's average usage throughout the day in order to detect anomalies.

This is primarily useful for detecting micro leaks that actually cause the vast majority of water damage to a home, for which Ondo sends out a team to find and fix the leak.

This novel, patented approach was developed through an innovation lab headed by Ondo's chief executive Craig Foster during his time at home-maintenance corporation HomeServe.

When HomeServe agreed to be taken private by Brookfield Asset Management, the innovation lab was spun out into Ondo Insurtech.

'I never in a million years thought we'd end up as a listed entity,' Foster reflected.

Yet, through a reverse merger with special purpose acquisition company Spinnaker Acquisition, Ondo became one of the first insurtech groups to list on the London Stock Exchange.

It took Foster a lot of convincing to take his group public and given the SPAC market effectively crashed right after Ondo's IPO, Foster's reservations seemed to be vindicated.

In his words: 'We came on the market, the market crashed, and we lost 50 per cent of the market cap(italisation) immediately.

'I was a bit naive, I thought, 'we have a great product with a massive addressable market and a really great pipeline of news'... But it was actually nine months of new things we were signing and literally, it was tumbleweed'.

The same cannot be said for the share price in 2023.

Ondo's market cap has shot up fivefold in 2023, from just £5million to more than £25million today (at 32p), due to the raft of new partnership announcements, in particular the WNS roll out.

Some may put Ondo's shares in the overbought category given such a sharp rally, especially considering that, despite what are some pretty impressive-sounding partnerships, revenues in the last financial year ending March 31 were only around £2.1million.

But, as sponsored research from Bloom Analytics notes, Ondo's recent deal with Länsförsäkringar is estimated to bring in £30million in revenues over the next five years on a 40 per cent margin. And that's just one customer.

Revenues are predicted to increase tenfold in the coming five years, though Bloom did concede that it will take a multi-year development timeline for Ondo to become cash flow positive.

If LeakBot continues to charm large-scale clients like it has this year, and if Ondo is able to convert its multitude of pilot programmes into healthy recurring revenue streams, then one gets a feeling that there is still time to buy into the story while the market is still down.

To read more small-cap news click here: www.proactiveinvestors.co.uk.
DIY INVESTING PLATFORMS
Posted at 03/8/2023 21:03 by juckster
PDT - thx for the post. I think a lot of potential investors think they've missed the boat and I can see why they think that looking at the last few weeks trades. But the potential (rampy I know) is far in excess of today's share price When/if news of more contracts in US and UK feed through, which they will, then it is only going to increases the share price
Posted at 31/7/2023 12:20 by 7rademark
https://www.ig.com/uk/trading-strategies/top-10-uk-penny-stock-for-investors-200123
Posted at 24/7/2023 16:22 by tom5boy
Investors who have done their research are holding tight while traders……;.
Posted at 10/7/2023 09:36 by idlejack
This share price should be far higher, somewhere between 50p and 100p. The true investors realise this, the traders haven't got a clue. This could be another GGP, look at the TR1, he's not here for the odd 10%.
Posted at 23/6/2023 10:25 by hamidahamida
Big Problem I find is that in his latest interviews ceo refuses to give any hard numbers guidance which has created uncertainty for some investors hence price the retracment market hates this type of scenario, hence the party is over

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