Beyond UBI: why industrial IoT insurance matters for the ecosystem
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Munich Re’s recent acquisition of IoT platform Relayr, via its subsidiary HSB, is a good example of how insurance companies are set to enable enterprises to create new opportunities from industrial IoT. Insurance companies bring a quantifiable way for enterprises to use aggregated and anonymised industrial IoT data. Just as telematics data spurred the provision of usage-based insurance (UBI), industrial IoT data in manufacturing, buildings, retail, transport and utilities/energy can stimulate IoT growth and adoption over the coming years.
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