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A subsidiary of Munich Re invests in a startup montreal

by

Andrea Lubeck

February 1, 2018 09:45

Photo : Stockvault.net

The startup montreal mnubo has received $ 16.5 million in series B funding from a group led by HSB Group, a subsidiary of Munich Re. The two companies plan to develop a financial product that will allow clients to mnubo that invest in the Internet of things to better manage their risks and accelerate the return on investment.

«This strategic partnership allows us to bring the Internet of things in a new way the insurance market, explained Aditya Pendyala, co-founder of mnubo, in an interview with the Journal of insurance. HSB Group and mnubo are dealing with the same customers, this partnership was natural. «

Of financial products based the Internet of things

«HSBC has 150 years of experience in the insurance business, and industrial equipment ; this alliance with mnubo offers the next generation of businesses and manufacturers of the Internet of things will benefit from a portfolio of financial products based on the data of the Internet of things to accelerate the return on investment by allowing the monetization of the data from the connected objects,» said Frederic Bastien, co-founder and president of mnubo, during the announcement of the partnership.

«The partnership with mnubo is essential to release the business value that firms derive from their smart equipment,» adds Greg Barats, CEO of HSB Group. The expertise of mnubo’s data to the Internet of things and its web analytics platform leadeuse on the market will give the chance to HSB to develop financial solutions tailored to enhance the activities of businesses, in addition to facilitating new business models. «

Mnubo provides analysis of data collected by the objects connected to the Internet, sold by manufacturers, so that they can use them within the framework of their activities.

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