LONDON--(BUSINESS WIRE)--HomeServe plc (“HomeServe”, “the Group”), the international home repairs and improvements business, is pleased to announce the appointment of Mark Wood CBE as non-Executive Chairman of HomeServe Labs, the unit within HomeServe that developed LeakBot.
HomeServe Labs is the innovation arm of HomeServe which in 2016 launched LeakBot, a patented smart leak alarm that can detect leaks anywhere on a mains water system. Water leaks are one of the major causes of claims on home insurance policies across Western Europe and the US, and LeakBot is designed specifically to help insurance companies prevent water leak claims by catching the leaks early.
Craig Foster, LeakBot CEO, said: "Mark Wood is a previous CEO of AXA and a veteran of the insurance industry. This experience will really benefit us as a B2B Insuretech. Mark is also a successful entrepreneur himself, and more recently added a huge amount of value to promising fintech start-ups like PensionBee. With Mark on board as our new Chairman, we are excited to try and emulate the success of other London based start ups that he has been involved with.”
Mark Wood said: “I am delighted to be part of the team which invented LeakBot: a unique and proven technology which addresses a major cause of household claims. The business is at an inflexion point having secured trials across America and Europe as well as in the UK.”
HomeServe is an international home repairs and improvements business which provides people with access to tradespeople and technology to make home repairs and improvements easy. HomeServe is listed on the London Stock Exchange, with a market capitalisation of £4.2 billion.