Munich Re’s acquisition shows how IoT can disrupt non-technology players’ markets

IoT platform vendor Relayr was bought for USD300 million by the German insurance and risk management provider Munich Re through its subsidiary Hartford Steam Boiler (HSB) in September 2018. The acquisition is surprising for anyone that does not follow Munich Re closely, but it demonstrates that large, non-technology players want to use IoT platforms to disrupt the traditional business models within their respective markets. The adoption of IoT-based insurance solutions can also create opportunities for traditional technology providers in the insurance market.