Leonhard Forster is heading Industrial IoT at Munich Re since 2017. In this role, he is leading an international team of experts to invent and implement new business models combining hardware, software and financial solutions related to IoT. After studying Economics and Business Administration, he started his professional career at Munich Re and has since worked in diverse fields of insurance and innovation in Germany and abroad – risk assessment, pricing, product development, structured financial transactions, client management and business model innovation.
IoT is affecting almost all industries, including insurance. With IoT technology providing for better risk management, insurance companies face the choice of protecting themselves against a potential disruption through reduced need for insurance, or an adaption and extension of their business model to include technology offerings. We will look at how Munich Re has decided to embrace the IoT opportunity and learnings from risk-related IoT implementations.
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