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Schneider Electric and HDI Global SE have announced today the signing of a Memorandum of Understanding (MOU) to collaborate on the digital transformation of industrial insurance through data. As part of this collaboration, the two companies are exploring ways to complement each other’s strengths, to create new business models in the field of IIoT driven insurance products and services.

A world first, Schneider Electric will leverage its newly launched cross-industry open ecosystem platform, Schneider Electric Exchange, along with its EcoStruxure IoT enabled architecture, to generate, aggregate and transform building, machinery and equipment data into meaningful information. These solutions will help HDI Global SE to reduce risk in real-time as well as offering tailor-made insurance and risk consulting solutions to their customers.

Dr. Thomas Kuhnt, CDO and COO of HDI Global SE said: “The assessment, reduction and transfer of operative risks is our core business as a leading industrial insurer. The IIoT-enabled energy management solutions of Schneider Electric improve energy safety and enable broader innovation in our related insurance products and services to the benefits of our joint customers. This partnership is therefore an important milestone for our co-innovation strategy.”

“Combining energy management and risk management expertise takes the most of contextualized data to create additional value for industries. It is now possible thanks to our EcoStruxure IoT enabled architecture and Exchange platform that simplifies data exploitation”, said Grégoire Viasnoff, VP of EcoStruxure Power Deployment at Schneider Electric.

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