Disruptive Innovation Examples in the Insurance Industry
Gambling and life insurance – a surprising yet oddly appropriate pair. That’s what I thought as I walked through The Bellagio doors on a sunny, April day in Las Vegas. I wasn’t there to play games of chance though – I was at the 2016 LIMRA Life Insurance Conference to learn about disruptive innovation examples in insurance
Stratifying Mortality Risk Using Physical Activity as Measured by Wearable Sensors
Munich Re assessed the effectiveness of physical activity as measured by wearable sensors in stratifying the mortality risk profile of a U.S. population-based dataset provided by Vivametrica. Munich Re examined the dataset, performed classical actuarial mortality analysis and used survival analysis and machine learning techniques to evaluate the extent to which physical activity predicts mortality.
Underwriting and Real Time Biofeedback (Slides)
Presentation by Jordi Posthumus on “The Rise of Mobile Computing and Its Impact on Life Underwriting” delivered at the 47th annual M.U.D. Group Conference.
Wearable Technology - Findings from a Trial at SCOR Global Life
SCOR Global Life recently trialled wearable technology among its workforce. Here is what happened.
Innovation: Wellness, Wearables, and Universal Truths
Are the current wellness initiatives which centre on wearable technology the golden fleece that holds out the best prospect of delivering innovative, market-disrupting change to insurance markets on a global scale? Mr Richard Verdin of RGA UK Services Ltd explores.
Three in Ten Americans Would Likely Share Data from Activity Trackers with a Life Insurance Company
According to the 2016 Insurance Barometer, 30 percent of consumers are very or extremely likely to consider sharing the data from an activity tracker (Fitbit, Jawbone, etc.) with a life insurance company if they received financial incentives in return for healthy behaviors. Among those who already use a device, willingness to share more than doubles to 65 percent.
The Real Digital Health
So far in our articles we have been pretty positive about all aspects of e-health, digital health, e-medicine, wearable devices, etc, and what these will bring. And of course Gary is a pretty enthusiastic Fitbit wearer. But there are a few potential ‘trip hazards’ with underwriting significance.
John Hancock Rewards Consumers for Healthy Eating
John Hancock Insurance today announced an expansion of its game-changing John Hancock Vitality solution with the addition of the HealthyFood program. Now, John Hancock Vitality policyholders can earn rewards for the healthy food choices they make every day with real-time discounts and/or cash-back up to $600 a year on their grocery bills, and program points that lead to savings on their annual premiums -- as much as 15 percent.
The Coming Internet of Things Revolution: A 6-Point Plan for Life Insurers
In the not-distant future, many of the regular things you use every day — your car, interior lighting, the clothes you wear — will link seamlessly to the Internet. This near-omniscient data connectivity has huge implications, and not just for how consumers live their lives.
2016 Sensor Data Survey: Disrupt or be Disrupted
Insurers who move quickly to leverage new data sources, such as wearable tech and sensors, gain enormous potential to disrupt their competition.