White Paper: Wearable Technology in Life Insurance
For insurers to effectively utilize wearable technology, it is important to understand the metrics captured by devices. Insurers must also be mindful of regulations, set reasonable expectations, and balance the risk and rewards of new developments.This white paper summarizes the considerations.
Simplified Issue is Expanding the Limits of Underwriting
Previously reserved for the hard to insure, simplified issue products have evolved into fully underwritten simplified products. Backed by artificial intelligence, these products have become an alternative to traditional simplified issue products.
A Life Insurance Company Wants to Track your Fitness Data
A company using what seems like a fun smartphone game to get you to walk more might be a slippery slope. With access to all that data, what will a big corporation ultimately do with it? This is still new, so the implications are murky.
John Hancock Will Only Sell Interactive Life Insurance with Fitness Data Tracking
John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that track fitness and health data through wearable devices and smartphones, the company said on Wednesday.
Don’t Share Your Health Data with Insurance Companies Just for the Perks
Insurers are today capable of and are, in fact, gathering ever-more-detailed information about us, using publicly available and purchasable information like shopping records, household details, and social-media profiles to inform decisions.
Biological Age Model: Using Wearable Data to Empower Healthier Lives
Customers today are more digitally‐enabled, more health conscious and more demanding of customized products and services that offer greater freedom and flexibility. The insurance industry however often fails to keep pace, and consumers can face multiple pain points in their insurance journey.
Health Insurers Are Vacuuming Up Details About You — And It Could Raise Your Rates
Without any public scrutiny, insurers and data brokers are predicting your health costs based on data about things like race, marital status, how much TV you watch, whether you pay your bills on time or even buy plus-size clothing.
Unveiling Black Box Models - Interpretability and Trust
In most fields, domain-specific data analysis and generalized linear models (GLMs) have been routinely used to extract insights from the data. The underlying mathematics of such analyses are rather straightforward, and practitioners as well as non-technical project members are experienced in how to interpret the results, and thus are adept at applying them in the context of business.
Life Insurance and the Internet of Thinking
The RNS is not something from science fiction. It is one of a growing number of technologies that combine robotics, artificial intelligence, and connected devices to bring a new level of technological sophistication to the physical world. Such tools will have huge implications for the life insurance industry.
Wearable Technology in Life Insurance: Gadget or Gimmick?
Is the promise of wearable technology too good to be true? Inclusion of wearables in life insurance products to date has not matched the interest. But advances hold great promise. RGA’s Julianne Callaway explores the power and perils of these promising devices in Digital Insurance.