European insurance firm Munich Re is partnering with Hartford Steam Boiler (HSB), a subsidiary of Chubb Private Risk Services , to deploy internet of things (IoT) technology in the homes of Chubb clients. Hartford Steam Boiler will collaborate with European company GROHE to install IoT sensors that monitor and send alerts for water leaks, as well as changes in temperature, humidity, vibration and water pressure. Chubb said the initiative is part of a move towards a "predict and prevent" model, rather than one of "repair and replace".
Swiss insurance firm Chubb is partnering with Hartford Steam Boiler (HSB), a subsidiary of Munich Re, to deploy internet of things (IoT) technology in the homes of Chubb Private Risk Services clients. HSB will collaborate with European company GROHE to install IoT sensors that monitor and send alerts for water leaks, as well as changes in temperature, humidity, vibration and water pressure. Chubb said the initiative is part of a move towards a "predict and prevent" model, rather than one of "repair and replace".