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Munich Re is in the (re)-reinsurance business, but they apparently own HSB which appears to be telecom-related so it could make sense to buy an IoT middleware s
by supahfly_remix 8y ago
Munich Re is in the (re)-reinsurance business, but they apparently own HSB which appears to be telecom-related so it could make sense to buy an IoT middleware startup. Can anyone explain the relationship between these Munich Re and HSB? They seem to be two different, non-complementary lines of business.
- detaro 8y agoFrom my understanding, HSB is the industry arm of Munich Re. For insuring industrial facilities, expertise in auditing those is needed, and they also sell that expertise. IoT fits in there as a way of collecting more data, improving the quality of their risk assessment, selling monitoring equipment also means being able to avoid insurance cases, monitoring of SLAs that are insured, ...
- supahfly_remix 8y agoThank you for the explanation. Never thought of insurance companies having an interest in IoT.
- baybal2 8y agoNobody else thought either, but now thanks to their superhuman salesmanship, now they do :) I bet, they managed to make them believe that they somehow can pull out accident rates from the data.
- jon-wood 8y agoI work at Neos, where we’re using IoT in the context of home insurance. Almost all our investors are insurance companies (including Munich Re who underwrite our policies). Insurance is all over IoT, and indeed anything else with the chance of reducing risk - it’s what they do.
- supahfly_remix 8y agoWow, good to know. I know.Progressive insurance used to have a.dongle to monitor driver behavior for a discount. It predated.the term Not and used.the 2g network.