Water Intelligence signs second national insurance contract

Water Intelligence has signed and launched its second formal national contract with one of the top five insurance companies in the US to provide adjusters a trusted partner to pinpoint water leaks and minimise collateral damage claims from residences and businesses.

The company's provision of nationwide coverage through American Leak Detection (ALD) allows for a nationwide execution for customers in the US.

During 2017, ALD implemented its first national contract, having previously worked with insurance claims adjusters across the US relying mainly on local marketing and execution from its franchisees.

In an effort to meet insurance customers' demand for a consistent nationwide business to business approach, ALD implemented a centralised channel for job assignments and billing. The strategy has now been enhanced further with the introduction of partnerships with product companies.

Executive chairman Patrick DeSouza said: "A business to business approach will leverage our existing national footprint and reduce administrative costs for our insurance company partners. Year one implementation went well. In response to strong demand, we plan to do more of the same in 2018 and beyond, as the insurance market is currently seeking complete solutions for minimizing water loss through leakage and we believe we are well positioned to deliver this. We look forward to another significant increase in the amount of insurance work acquired for our corporate and franchise locations."

At 8:04am: (LON:WATR) Water Intelligence PLC share price was +7.5p at 190p