"With active monitoring of homes and businesses through smart devices, we will be better able to help our clients prevent a total loss from a water leak or damage to a cherished collection of fine art or wine," Sean Ringsted, Chubb's chief digital officer and chief risk officer, said in a press release about the company's new IoT-driven loss mediation program. (iStock)
Chubb has announced that it will partner with Hartford Steam Boiler (HSB) Inspection and Insurance Company, a unit of Munich Re, to begin installing innovative Internet of Things (IoT) technology in the homes and businesses of Chubb policyholders. The sensors and devices will monitor for water leaks and changes in temperature, humidity, vibration and water pressure that, if left undetected, can lead to severe property damage. In a program with a segment of Chubb Private Risk Services clients, IoT sensors for early water leak detection will be installed in their primary and secondary homes. The program is made available through HSB's partnership with GROHE, the world's leading provider of luxury fittings for kitchens and bathrooms, and the sensors are powered by the GROHE Sense Guard system, an intelligent water security system that detects water leaks, alerts the homeowner and shuts off the water supply automatically to prevent severe damage to the home.
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