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The global cooperation between Schneider Electric, Munich Re, and HSB will combine best-in-class risk solutions with IoT technology services to better serve existing and prospective clients.
FREMONT, CA: "Schneider Electric's impressive EcoStruxure solutions are opening opportunities to bring electrical and equipment risk management to the next level. As the global leader in equipment breakdown insurance, we are proud to be working with a business that complements our focus on the intersection of technology, engineering, and insurance." says Greg Barats, President and CEO of HSB and Head of Munich Re Global IoT.
Schneider Electric, one of the industry leaders in the digital transformation of energy management and automation, has established a strategic partnership with global reinsurer Munich Re and its subsidiary HSB. The agreement comes at a crucial juncture when risk management rapidly becomes a top issue for firms through economic uncertainty.
HSB, one of the major global providers of reinsurance and specialty risk solutions, offers IoT sensor solutions that complement data-driven solutions facilitated by EcoStruxureTM Power's flagship power distribution technology from Schneider Electric.
During a critical period for firms reliant on insurance, the alliance will assist businesses in remaining robust by predicting operational flaws and obstacles in real-time. Schneider Electric's entire IoT-enabled architecture and platform is intended to digitize and simplify the electrical distribution infrastructure, delivering reliable " always-on " electricity.
Financially-backed risk products from Munich Re and HSB enable growing technology solution providers to offer greater peace of mind to the most established product and service providers. The collaboration enables Schneider Electric, Munich Re, and HSB to capitalize on their strengths by developing world-class products and risk solutions that drive greater adoption, digital transformations, and advanced technology solutions to combat climate change and promote sustainability.
