HSB, a leading provider of specialty insurance and technology, and the Connecticut Center for Advanced Technology today announced a partnership to explore ways to reduce the risk of adopting Additive Manufacturing technologies for industrial applications.
A multi-year agreement between HSB and CCAT includes access to its Advanced Manufacturing Center, Advanced Composite Center, and training facilities in East Hartford, Conn., where CCAT works with industries worldwide for applied research and development.
“Additive Manufacturing is bringing innovation to the way our customers make and use parts and products,” said John Riggs, senior vice president of HSB Applied Technology Solutions. “We are excited to be working with a leading-edge technology organization, such as CCAT, to help advance technology adoption in the marketplace as we develop ways to reduce risk throughout the manufacturing value chain.”
New technologies increase efficiency and competitiveness
Additive Manufacturing, which includes 3D printing and other emerging technologies, uses Computer-Aided Design (CAD) software and machine equipment in a layer-upon-layer printing approach. The process utilizes materials such as metals, polymers, powders and gels to fabricate products that are lighter, stronger and more complex in design for aerospace and defense, shipbuilding, automotive, medical device, and many other industrial applications.
“Additive manufacturing technologies and the data-driven principles of Industry 4.0 and 5.0 will drive manufacturing technology companies forward in the years ahead,” said Ron Angelo, president and chief executive officer of CCAT. “HSB is executing at the forefront of these technologies to provide risk mitigation strategies across multiple industries. CCAT’s work with HSB is an example of how technology can be applied to increase efficiency and competitiveness in a global market.”
HSB and CCAT collaborate with companies around the world
HSB, which delivers solutions including Internet of Things and Artificial Intelligence technologies through HSB Applied Technology Solutions, is the exclusive insurance partner of CCAT.
HSB and CCAT will work to investigate and demonstrate multi-purpose applications of technologies, such as additive and subtractive manufacturing, robotics, Internet of Things and Artificial Intelligence, and evaluate strategies to help reduce the risk to industries when adopting these important technologies.
CCAT has collaborated with large and small companies across multiple industries around the world, including Fortune 500 corporations, 30 federal and state entities, and over 1,100 supply chain companies, as well as academia and state and local governments to deliver technical solutions to complex challenges.
Hartford Steam Boiler (HSB)
HSB, part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management and IoT technology services. HSB insurance offerings include equipment breakdown, cyber risk, specialty liability and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150-year history HSB’s mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit business, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). For more information, visit www.hsb.com and connect on LinkedIn, Twitter and Facebook.
Connecticut Center for Advanced Technology (CCAT)
CCAT is an applied technology center that validates and demonstrates leading-edge industrial technologies and assists global industrial companies and the manufacturing supply chain with the adoption of those technologies into their business. A non-profit organization founded in 2004, CCAT maintains the highest level of technical capabilities utilizing the most advanced industrial equipment operating in CCAT’s two manufacturing technology centers to provide hands-on demonstrations and training necessary to upskill employees to make use of the latest manufacturing technology advancements.
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through to the 2019 Pacific typhoon season. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyberattacks, or pandemics. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.