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. With active monitoring of homes and businesses through smart devices, we will be better able to help our clients prevent a total loss from a water leak or damage to a cherished collection of fine art.” 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".
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".