Wearable Wellness: Five Quick Takeaways from RGA’s Fitness Tracker Study
In 2016, RGA conducted an anonymous study among its employees and their friends and family to explore wearable fitness trackers’ potential application for insurance product development. The study included around 1,000 participants from 23 countries and was conducted over 12 weeks using five tracking devices.
Preparing for the Digitally Immersed Customer (LOMA Resource)
Rapid advancements in technologies such as IoT, wearables and AI is changing consumer behavior and expectations. How can you prepare for the customer of the future?
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.
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.