Hartford Steam Boiler has announced the acquisition of Meshify, a technology startup that makes disconnected devices “smart” through the industrial Internet of Things.
With the move, HSB expands a previous strategy of making strategic investments in IoT startups. The Munich Re subsidiary initially invested in Augury and Waygumlast year.
The company has been pushing IoT as a risk mitigation tool ever since. It recently announced a partnership with Church Mutual on a turnkey IoT-based monitoring system, announced this month. HSB's goal is to improve businesses' core operations through a connected world, it said previously.
“HSB is committed to delivering the technology and services that help businesses and insurers meet the challenges of a connected world and other emerging technologies,” said Greg Barats, president and chief executive officer of HSB, in a statement. “Meshify’s simple and flexible IoT platform is different than other applications and is uniquely suited to help HSB build its IoT capabilities to meet our customers’ needs.”
Meshify’s cloud-based platform provides real-time monitoring, alerts of potential risks and sensor data through its web and mobile applications. The startup will also provide staff to HSB’s IoT service business to enhance offerings for the insurer’s clients, according to the companies.
(This article appears courtesy of our sister publication, Insurance Networking News)
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