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Craig is Founder and CEO of Ondo InsurTech PlcOndo InsurTech Plc is a leading provider of claims prevention technology for home insurers. Ondo’s focus is on the global scale-up of LeakBot – an end-to-end internet of things solution which protects homes from the impact of water damage. Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined. LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to ‘find and fix’ the problem. Recent independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by 70%.LeakBot partners with 11 insurance carriers - including Admiral, Direct Line Group, Hiscox, Mapfre and TopDanmark - across 5 different countries, in Europe and the USA. In March 2022 LeakBot became the first InsurTech to IPO in London, as Ondo InsurTech Plc (LSE:ONDO).
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Chief Executive OfficerOndo Insurtech Plc Jan 2022 - Present -
CeoLeakbot Mar 2016 - Jan 2022London, England, GbCraig is Founder and CEO of LeakBot - an end-to-end system designed for Home Insurers to prevent water damage claims.LeakBot uses a totally unique and patented sensor technology to detect leaks called Thermi-Q. This technology break-through means a small low-cost self-install WIFI-enabled device that is powered by 2AA batteries can detect a leak anywhere on a mains water system down to micro leaks at <3 ml/minThis is a game-changer for the insurance industry, as it means there is now a viable commercial model for using IOT technology to reduce claims. Insurers offer LeakBot devices and leak location visits and repairs to their policyholders FOC. This creates a Year 1 ROI on the costs as a result of the >60% indemnity spend reductions on mains water claimsLeakBot is the first IOT leak prevention system to get mainstream adoption in full scale rollouts with multiple major insures, such as Hiscox, Direct Line, Covea, Eaton Gate (in the UK), TopDanmark (Denmark) and Länsförsäkringar (Sweden) -
Connected Home DirectorHomeserve Sep 2015 - Mar 2016Walsall, West Midlands, GbI run HomeServe's innovation team (The Shed) and our nascent connected home business. We are already the UK's number 1 multi-platform installer for smart thermostats. We have built a first rate installation software platform and engineer network and are the approved installer for Nest, Tado and Cosy, offering live engineer booking slots through an API straight into our partners' e-commerce platforms.We have also started to connect our home assistance services with these smart home platforms, and in 2016 we will also be launching a break-through IoT device of our own. -
Innovation And Strategy DirectorHomeserve Oct 2014 - Sep 2015Walsall, West Midlands, GbI lead the HomeServe Accelerator. This is a business model incubator inspired by the likes of GoogleX. We are not inventing driverless cars, but we are a team of inter-disciplinary innovators, with ring-fenced resources who are using design thinking to quickly test new business model ideas. Current technological trends will have a profound impact on home assistance over the next decade, so our work is great fun right now.I am also responsible for helping the UK CEO and board on overall UK strategy design and execution -
Product DirectorHomeserve Apr 2013 - Oct 2014Walsall, West Midlands, GbPart of the UK senior management team, with P&L responsibility for HomeServe's product lines, accountable for product strategy, product marketing, customer retention and loyalty marketing. -
Director Of ProductsHomeserve Mar 2009 - Mar 2013Walsall, West Midlands, GbResponsible for product management, product innovation, e-commerce, the HomeServe brand, and the sales and marketing for HomeServe's jobs-on-demand service. -
Head Of Marketing, Mortgages And General InsuranceHbos Plc. Sep 2007 - Mar 2009 -
Global Brand Manager, Head & ShouldersProcter & Gamble Nov 2005 - Sep 2007Cincinnati, Ohio, Us -
Assistant Brand Manager, Haircare (Various)Procter & Gamble Sep 2001 - Nov 2005Cincinnati, Ohio, Us
Craig Foster Skills
Craig Foster Education Details
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Nottingham University Business SchoolManagement Studies
Frequently Asked Questions about Craig Foster
What company does Craig Foster work for?
Craig Foster works for Ondo Insurtech Plc
What is Craig Foster's role at the current company?
Craig Foster's current role is CEO Ondo InsurTech Plc.
What is Craig Foster's email address?
Craig Foster's email address is cr****@****rve.com
What is Craig Foster's direct phone number?
Craig Foster's direct phone number is +44 843 504*****
What schools did Craig Foster attend?
Craig Foster attended Nottingham University Business School.
What skills is Craig Foster known for?
Craig Foster has skills like Strategy, Product Marketing, Product Management, Marketing, Customer Insight, Product Innovation, Business Strategy, Segmentation, Marketing Management, P&l Management, Customer Experience, Customer Retention.
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