Zak Mir spoke to Craig Foster, CEO of Ondo InsurTech, regarding the announcement this morning of a new go-to-market partnership with WNS (Holdings) Ltd (“WNS”), a world-leading business process management (BPM) company quoted on the New York Stock Exchange (NYSE: WNS).
Ondo and WNS (Holdings) Ltd sign go-to-market channel partnership to accelerate LeakBot deployment in North America and worldwide
WNS are a market leader in BPM for insurance companies, running the claims operations for numerous household-name insurers in Europe and the United States, and have a market capitalisation of over $4BN.
WNS has joined forces with Ondo to anticipate and avert water damage claims in residential properties for their insurance partners. This pioneering collaboration in the Property and Casualty (P&C) insurance sector features a Loss Reduction Guarantee provided by WNS.
Ondo will supply the technology and repair services, while WNS will oversee claims, customer operations, and transformation services, in addition to offering the guaranteed indemnity savings.
This partnership marks a significant achievement for Ondo. WNS collaborates with some of the world’s largest insurers, and Ondo’s cutting-edge ‘escape of water’ claims mitigation technology has the potential to deliver substantial financial advantages to WNS’s global household insurance clientele.
Ashi Bagdadi, Corporate SVP Insurance at WNS, states: “At WNS, our goal is to continuously enhance value for our insurance clients by integrating data, technology, top-tier processes, and leading insurtechs in every use case. We collaborate with carriers worldwide to manage millions of dollars in water damage claims annually, giving us a deep understanding of this risk. This unique insight enables us to deploy LeakBot on a large scale and ensure a guaranteed return on investment for our insurance customers.”
Craig Foster, CEO of Ondo InsurTech Plc, says: “This is a game-changer proposition within the home insurance industry which can considerably accelerate our business scaling. With the WNS loss reduction guarantee, insurers are incentivised to move straight to large scale rollouts to deliver a guaranteed improvement on their loss ratio. We look forward, in future, to being able to announce the fruits of the partnership.”
