Internet of Things (IoT) News

Flaws in Smart Home Devices May Mean False Sense of Security

Researchers at North Carolina State University have identified design flaws in “smart home” Internet-of-Things devices that allow third parties to prevent devices from sharing information. The flaws can be used to prevent security systems from signaling that there has been …

Octo Telematics to Provide Commercial Fleet Telematics to Mexico Auto Insurer

Octo Telematics, the Rome-based provider of telematics and data analytics solutions for the auto insurance industry, has partnered with Qualitas, Mexico’s largest auto insurer with operations throughout Mexico, Latin America and the United States. Qualitas, which has more than 4 …

Cyber Joins Business Interruption as Top Global Business Risks: Allianz Survey

Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes supply chain disruption) is the major risk for companies …

Hartford Steam Boiler Completes Acquisition of Industrial Tech Firm Relayr

Hartford Steam Boiler (HSB), part of Munich Re, announced the close of the acquisition of relayr, Inc., the Berlin-based industrial internet of things technology company. HSB acquired 100 percent of relayr’s shares and equity interests for $251.7 million in cash …

Global Insurers Realize Innovation Is Critical for Future Success: A.M. Best Survey

A significant majority of global insurers understand that innovation is increasingly becoming a competitive differentiator in the global marketplace, according to the results of an A.M. Best survey of its rated entities. More than 80 percent of survey respondents said …

Munich Re Acquires Tech Firm Relayr, an Industrial Internet of Things Specialist

Munich Re announced it is taking a further key step to create new business models in industrial Internet of Things (IoT) through the acquisition of the software company “relayr” via Munich Re’s subsidiary, Hartford Steam Boiler (HSB). Valued at US$300 …

Commercial Auto Insurers Catching Up with Telematics

Though adopted early by personal lines insurers, telematics technology is just coming into its own in the commercial auto space. According to Zach Schmiesing, director, Commercial Lines, IoT/Telematics at Verisk Analytics, commercial insurers are examining the differences in commercial driving …

New Endeavor Cyber Product Designed to Protect Manufacturers From Physical Damage

Delegated authority specialist and Lloyd’s Broker Endeavour Insurance Services has launched a new cyber security coverage program, Ensconce, designed to protect manufacturers from the risk of physical damage caused by cyber attacks. The Ensconce coverage responds to the increasing risk …

Tech Company Roost Forms Insurer Partnerships for Home Telematics Pilot

Roost, a provider of home telematics for property insurance carriers, has partnered with Erie Insurance to test customer engagement with its Roost Smart Water Leak and Freeze Detector device in order to prevent water damage claims. The Roost Smart Water …

Munich Re Leads $16.5M Financing for AI, IoT Startup Mnubo

Munich Re’s HSB Ventures led a $16.5 million venture financing for Mnubo, an Internet of Things (IoT), data analytics and artificial intelligence (AI) startup, which is seeking to expand internationally. Founded in 2012 and headquartered in Montreal, Canada, Mnubo said …