Danish Expansion: Ondo Forms Alliance with If in Denmark
In a significant move to enhance home insurance services in Denmark, Ondo InsurTech Plc, a leading claims prevention technology developer, has announced several strategic partnerships.
Ondo has signed an agreement with If P&C Insurance, Denmark's second-largest insurance provider with a 20% market share, to introduce its flagship product, LeakBot, to a wider Danish customer base. The rollout via If's agent network in Denmark is scheduled to start from August.
The Allianz Group has also joined the bandwagon, partnering with Ondo InsurTech Plc to implement LeakBot technology in the field of home insurance. The rollout is planned to take place in the second half of 2024.
In addition, Ondo has signed a new deal with Danish mutual insurance company LB Forsikring to accelerate the distribution of LeakBot. LB Forsikring has successfully deployed LeakBot in the past 14 months.
The partnerships come after the integration of Topdanmark into If's Nordic operations, following Sampo plc's public exchange offer for Topdanmark. The agreement update recognises the change of control resulting from this acquisition. The public exchange offer for Topdanmark by Sampo plc resulted in Sampo holding approximately 92.6% of Topdanmark's shares in September 2024. The integration of Topdanmark into If was completed on 1 July 2025.
Craig Foster, CEO of Ondo, commented on the partnerships, expressing excitement about scaling LeakBot to a broader Danish customer base.
To test a new go-to-market model for LeakBot, Ondo has initiated a one-month pilot program with G4S Denmark. G4S, a global security and facilities services company owned by Allied, will play a crucial role in this pilot phase.
If is continuing to offer insurance under both the If and Topdanmark brands as part of the Danish go-to-market strategy.
These partnerships mark a significant step forward for Ondo InsurTech Plc, as they aim to revolutionise home insurance claims prevention with LeakBot.
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