HSB Ships Next Generation Sensors and Software for its IoT Building and Equipment Alerts
Simple-to-Install Sensor Kits Offer Extended Range and Additional Data Points
Hartford Steam Boiler, a leading equipment breakdown and technology insurer, today introduced its next generation sensors and software to connect equipment and facilities through the Internet of Things. The sensors are delivered in a simple kit for commercial customers and use proprietary algorithms to help prevent loss and improve performance.
Sensor Systems by HSB is an early warning system for building owners, schools, religious groups and other organizations. The service includes all the hardware and software necessary to monitor conditions 24/7, analyze the data and issue alerts when changes suggest trouble.
“We offer an easy IoT solution that’s built on HSB’s decades of experience with equipment and technology,” said Jack Volinski, senior vice president for HSB, part of Munich Re. “HSB’s engineers leveraged technology designed by an HSB IoT startup acquisition to provide longer range communication and to deliver more useful information that we can customize for each sensor risk application.”
HSB’s algorithms analyze data on temperature, water accumulation, power outages, motion and humidity to identify and report on potential risks. The enhanced software can account for temporary conditions, such as workers loading a freezer, so alerts can more accurately identify and communicate when action is required.
The new HSB sensors use LoRaWAN™ low-power wide-area networks wireless technology certified by the LoRa Alliance™, with extended range to connect dispersed equipment and facilities and can communicate through building walls and floors. The HSB technology uses cellular rather than Wi-Fi systems, which helps protect data security and is less affected by power outages.
Sensor Systems by HSB was launched in October 2016 and has since collected 250 million sensor readings from client locations. It is available to small and mid-size organizations through many leading U.S. property-casualty insurance companies that partner with HSB and directly from HSB to larger clients. The program allows insurers to help reduce and minimize losses through IoT technology and provides additional value to policyholders.
Note for the editorial staff
Hartford Steam Boiler (HSB), part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management and IoT technology services. HSB insurance offerings include equipment breakdown, cyber risk, specialty liability and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150 year history HSB’s mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit business, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). Connect with HSB on LinkedIn, Twitter and Facebook.
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2017, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €0.4bn. It operates in all lines of insurance, with over 42,000 employees throughout the world. With premium income of around €32bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in ERGO, one of the leading insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2017, ERGO posted premium income of €17.5bn. Munich Re’s global investments (excluding insurance-related investments) amounting to €218bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.
Hartford, Connecticut, July 23, 2018
The Hartford Steam Boiler Inspection and Insurance Company
One State Street
P.O. Box 5024
Hartford, Connecticut 06102-5024