Schneider Electric, the leader in digital transformation of energy management and automation and HDI Global SE, a global industrial insurer, announce today the signature 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.