Schneider and HDI team up to transform industrial insurance

Industrial insurer HDI Global and Schneider Electric are to collaborate on the digital transformation of industrial insurance through data.

The two companies are exploring ways to complement each other’s strengths, to create new business models in in the field of Industrial Internet of Things (IIOT) driven insurance products and services.

Schneider Electric will leverage its newly launched cross-industry open ecosystem platform, Schneider Electric Exchange, along with its EcoStruxure IoT enabled architecture, to generate, aggregate and transform building, machinery and equipment data into meaningful information. These solutions will help HDI Global to reduce risk in real-time as well as offering tailor-made insurance and risk consulting solutions to their customers.

Dr Thomas Kuhnt, CDO and COO of HDI Global, said: “The assessment, reduction and transfer of operative risks is our core business as a leading industrial insurer. The IIoT-enabled energy management solutions of Schneider Electric improve energy safety and enable broader innovation in our related insurance products and services to the benefits of our joint customers. This partnership is therefore an important milestone for our co-innovation strategy.”

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