Leakbot has been around for some time; I remember attending workshops with L&G GI (before its sale to Allianz and amalgamation with LV=) where this was seen as a significant benefit for both home insurers and carriers.
Innovation takes time to refine and get the product and service offer right. The announcements by ONDO and WNS include a big difference on a global scale-
A Guaranteed Indemnity Saving
WNS put are certainly KPI driven and I don't know an insurer that doesn't like a guaranteed ROI.
Ashi Bagdadi, Corporate SVP Insurance at WNS, says : "At WNS we aim to add more and more value to our insurance clients by bringing data, technology, best-in-class processes, and best-of-breed insurtechs together in every use-case. We work with carriers globally to handle millions of dollars of water damage claims every year so we understand this risk intimately, which puts us in a unique position to deploy LeakBot at scale and guarantee the 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."
Well worth looking at this packages service: -
It's only in the last few weeks that WNS Announced a significant partnership with RightIndem the digital claims platform provider. That partnership delivers STP from eFNOL to claims disbursements for simple auto claims and complete claims management for more complex auto claims.
WNS also offers enticing digital claims KPIs there on its website.
Unlike WNS, Many offer end-to-end capabilities but few put their money behind their claims
Worth a look I suggest
Further Reading
Speed of settlement, customer satisfaction and AI
What P&C insurers can do as claims inflation pressures rise in Europe
The new partnership will see WNS utilizing Ondo’s technology and repair services to predict and prevent water damage claims in homes for their insurance partners. In an unprecedented move for the Property and Casualty (P&C) insurance industry, WNS will also offer a Loss Reduction Guarantee.
