Property and casualty insurance group The Hartford has extended its Internet of Things (IoT) innovation lab to help improve workplace safety for customers.
Businesses and homes are using more network-connected devices which provide real-time data. The Hartford hopes to tap into this and analyse it to help reduce and mitigate hazards such as unsafe working conditions or water damage from a broken pipe.
An example offered by the insurer from the IoT innovation lab is a platform which monitors water pipes through sensors. These can detect a leak before it causes extensive flooding.
The Hartford is also working with vendors to equip workers with a wearable technology piece which would generate data around workers lifting, bending, getting fatigued and their proximity to hazards, among other factors.
The Hartford head of Internet of Things Innovation Lab Dan Campany said, “The Hartford sees significant opportunity to apply insights from IoT data to enhance our entire value chain from product and distribution, to underwriting, to risk management, to claims.
“These insights will change the way we think about mitigating and assessing risk, enabling new business models, products, and services.”
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