IoT for Insurance

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HSB Internet of Things (IoT) Vision

HSB embraces the vision that Internet of Things (IoT) technologies strengthen the connection between businesses and their clients to their mutual benefit. We do this by empowering businesses and people with real-time, actionable IoT intelligence to improve decisions and outcomes. Benefits of HSB’s IoT-based business services within insurance may include:

  • Stronger dialogue with customers
  • Fewer claims and increased profits
  • Enhanced underwriting and risk profiling
  • New data sources and business intelligence
  • Value added services for market differentiation
Stay Ahead of the Technology Curve

HSB offers a complete package of IoT solutions encompassing consulting, hardware and software technology, support services and backend analytics to quickly operationalize an IoT program. Executing IoT programs is difficult due to technical challenges, logistical complexities and constant technological churn. With our engineering and IoT experience we shield clients from these complications enabling them to deliver IoT based solutions faster and with fewer resource demands.

We’ll work with you to design an IoT program responsive to your specific business needs. Have a loss problem with specific classes of business? Need real-time visibility of risk conditions in client locations? Want 24/7 monitoring and real time risk alerts when conditions materialize? Require backend analytical services and insights to support new product development? HSB has the flexibility to design a solution for each of these scenarios.

Seven Essential Elements

HSB’s IoT program includes seven essential elements:

  1. Engineering consultation to identify locations to sensor, the sensor technology to use and guidance to optimize sensor placement for the risk conditions you wish to monitor.
  2. Monitoring and alert systems tailor-fit to clients’ specific risk scenarios using HSB’s proprietary algorithms and real world engineering expertise.
  3. Technology supplier management including preferred pricing and service contracts, cellular plan and sensor inventory management, customer support and device maintenance programs.
  4. Program implementation and marketing support for end client enlistment and enrollment processes, sensor installation training, client web portal and ongoing customer service.
  5. 24/7 monitoring of conditions at client locations with risk alerts by email, cell phone, or text sent the instant risk conditions are detected so clients can take corrective action.
  6. Dashboards to track alert volume / frequency, sensor status, alert trends, and other data.
  7. Program administration and data analytics.
Insurance for IoT Outcomes

In addition, as a leading specialty insurer HSB can design new coverages and financial products that insure the business outcomes an IoT program intends to achieve.

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For further information

Jack Volinski, Senior Vice President

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Yuyan (Robin) Luo, Vice President
Click here to email


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