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.
The Growing Impact of Wearables on Digital Health and Insurance [Presentation]
Wearable devices allow us to track levels of physical exercise. Being able to share fitness goals and achievements across social networks has fueled a boom in the market for gadgets such as smart watches and wristbands.
Insurers Turn to Behavioral Economics to Attract Fitter Customers
People will alter their behavior if they see that it will bring them direct positive benefits. This contention reflects the essential principle of behavioral economics, which holds that consumers are open to influence and incentive, not just economic thoughts, when making buying choices.
John Hancock Adds Vitality Solution to Simplified Life
John Hancock Insurance announced today that the John Hancock Vitality solution, a new approach to life insurance that rewards people for healthy living, is now available on its quick-to-issue variable universal life insurance product, Simplified Life.
Trends in Medical Data Recording and their Potential Impact on Insurance and Reinsurance
More and more individuals use – be it on purpose or unknowingly – devices that track medical and behavioral data, and the cost of such devices is steadily falling, contributing further to their integration into daily life. Mobile applications devoted to health are available by the tens of thousands and are becoming ever more popular, with some exploring the trend of “gamification”, whereby users are rewarded to reach certain targets, like number of daily steps taken.
Wearable Technology – a User’s Perspective
It has been difficult to attend an underwriting conference over the last two or three years without hearing about ‘wearable technology’, ‘personalized health’, ‘wellness programs’ or similar. Alongside these have been discussions about ‘big data’, ‘predictive modelling’ and ‘predictive analytics’, and the potential uses of alternative data sources in the underwriting process for greater accuracy or efficiency.
An Early Look at Wearables for Life & Living Benefits Insurance
“Wearables” are electronic devices worn on the body that generate, store and electronically forward biometric data in real time to smartphones, tablets, laptops or other electronic devices.
The Rise of Wearable Technology – What Does it Mean for the Insurance Market?
Whether it’s measuring fitness, activity, sleep or even stress levels there is a growing market for fitness wearables and sports trackers that has got our industry thinking about whether the data from these devices can be used to underwrite people; effectively rewarding the fittest, healthiest lives by reducing their premiums.
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Wearables in Insurance: Balancing Value and Vulnerabilities
We hear a lot about wearables these days … smart watches, glasses, fitness trackers, helmets, and a myriad of other smart devices. These wearables incorporate sensors and chips for data collection, real-time analytics, gamification, and other features. But as the use of wearables increases, so do the concerns about security.