Polygon Group has signed an agreement to acquire Hiotlabs AB, enhancing its damage control capabilities in the property insurance sector by integrating IoT and Machine Learning technologies.

Target Information

Hiotlabs AB, a Swedish company, specializes in providing technological solutions utilizing Internet of Things (IoT) and Machine Learning to prevent water damage. The organization offers a comprehensive suite of hardware and software tailored for the insurance industry, aimed at reducing damage costs through connected water sensors. Their innovative solutions are designed to detect and mitigate water damages within buildings.

By integrating advanced technology with practical applications, Hiotlabs AB enhances risk management capabilities and helps insurance firms minimize potential claims related to water damage. Their proactive approach positions the company as a valuable asset in the ever-evolving insurance landscape.

Industry Overview

The insurance industry in Sweden is experiencing significant transformation due to technological advancements and an increasing focus on risk management. The