- HSB’s Sensor Solutions clients get access to WINT Water Intelligence
- Broadens HSB’s technology solutions to mitigate water leaks and damage
Protection for Construction and Building Operations
HARTFORD, Conn.–(BUSINESS WIRE)–#IoT–HSB, part of Munich Re, is expanding its suite of Internet of Things (IoT) water leak detection solutions, the company announced today, offering access to WINT Water Intelligence systems for construction, commercial, and industrial locations.
The WINT solution, including performance warranty for builders’ risk, in partnership with HSB, helps mitigate property damage and conserves water.
The solution represents a strong value proposition for contractors, developers, and the owners of large residential, hospitality, and other commercial facilities during construction and while in operation.
“While the cost of water damage continues to rise, water scarcity and water waste is a growing problem we can’t afford to ignore, in the context of climate change,” said John Riggs, chief technology officer and senior vice president of Applied Technology Solutions for HSB. “WINT’s water management solutions powered by Artificial Intelligence (AI) give our clients a proven technology-enabled approach to help prevent water damage and water waste.”
Water Damage is the Leading Cause of Loss
Pipe leaks account for one of the most common of insurance payouts on construction sites and claims in operational buildings.
A study by Munich Re, comparing sites protected by WINT with those that were not, found WINT-protected sites issued 73 percent less claims and 90 percent less payouts than sites without WINT installed.
“We’re excited to partner with HSB to bring our AI-based water management solution to the market,” said Alon Geva, chief executive officer of WINT. “By combining HSB’s expertise in supporting OEMs when they provide a performance warranty and their strong relationship with primary insurers, we’re creating a first of its kind offering to mitigate water damage – one of the industry’s biggest challenges and sources of insurance payouts.”
HSB and WINT Prevent Damage and Work Delays
HSB, a leading provider of specialty insurance and technology, provides commercial, industrial, and residential customers with IoT sensor solutions designed to prevent property and equipment loss, improve efficiency, and support predictive maintenance.
Designed by Meshify, the IoT subsidiary of HSB, its Defender™ Sensors monitor retail, healthcare, education, and other facilities 24/7 for water leaks and temperature extremes.
With access to WINT Water Intelligence, HSB’s customers can monitor water flow during and after construction projects, during ongoing operations, and automatically shut off the water when the system detects a leak. The technology helps property owners, managers, and insurance carriers prevent losses, reduce operating costs, work delays, and environmental impact.
Warranty Eases the Cost of Builders’ Risk Policies
WINT Water Intelligence monitors water through advanced data analysis, pattern recognition, and AI, including alerts to customers and water-shutoff capabilities.
WINT provides a performance warranty for WINT technology, backed by HSB, paying up to $250,000 in the unlikely event where damage occurs from a leak in a pipe monitored by WINT (in conformance with the warranty details). The warranty may be applied at construction sites for new buildings, renovations, and large retrofit projects.
The warranty is available to WINT customers in the United States, United Kingdom, and Europe, for commercial, residential, and hospitality building construction projects.
To find out more, visit: https://www.munichre.com/hsb/en/campaigns/wint-water-intelligence-management.html.
Hartford Steam Boiler (HSB)
HSB, part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management, and IoT technology services. HSB insurance offerings include equipment breakdown, cyber risk, specialty liability and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150-year history, HSB’s mission has been to help clients prevent loss, advance sustainable use of energy, and build deeper relationships that benefit business, public institutions, and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). For more information, visit www.hsb.com and connect on LinkedIn, X and Facebook.
WINT Water Intelligence
WINT Water Intelligence is dedicated to helping businesses reduce their environmental footprint by preventing the hazards, costs, waste, and environmental impact associated with water leaks and waste. Utilizing the power of artificial intelligence and IoT technology, WINT provides a solution for commercial facilities, construction sites and industrial manufacturers looking to cut water waste and its associated carbon emissions and to mitigate water-leak disasters. In 2023, WINT helped over 400 leading global enterprises to prevent more than 900 water damage incidents, saving customers tens of millions of dollars while conserving 652 million gallons of water and preventing 22,000 metric tons of carbon emissions. WINT has been recognized by Fast Company and CB Insights as one of the world’s most innovative AI companies and has won multiple awards including “Next Big things in Tech” and Insurance Times’ claims prevention technology award. For more information about WINT, visit https://wint.ai
Munich Re
Munich Re is one of the world’s leading providers of reinsurance, primary insurance, and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the asset management company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through Hurricane Ian in 2022. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies or cyberattacks. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals
Contacts
Dennis Milewski
Phone: +1 (860) 722-5567
Mobile: +1 (860) 534-0623
Email: DMilewski@munichre.com
