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Wearables for Insurance

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Advances in Technology will Change the Future Insurance Business Models

Mobile first preference from

consumers -(Distribution)

More natural interaction with

computers - (Digital Advisors)

Increase of data on people and objects -

(IOT, Telematics)

Common and secure use of data -(BlockchainTechnology)

Ability to recognise patterns in data -

(Artificial Intelligence,

Predictive Analytics)


The Wearable Landscape

https://www.capgemini.com/sites/default/files/resource/image/wearable_devices_ig.jpg


The Wearable Landscape


What's being discussed on Wearables

5

Source: https://lifeinsurancepost.com/wearable-technology-influencing-insurance-industry/

https://lifeinsurancepost.com/wearable-technology-influencing-insurance-industry/


Fitness-Grade

Medical-Grade

We Distinguish Two Basic Types of Wearables


The Cases: Medical Grade Device

A Quiet Sunday

A Working Day

A Day with Challenges


The Cases: Wellness and Engagement Platform

GOQii Ecosystem


The Case Studies: Example

Expert: Vandana Juneja


Disease mgmt.

programs

Prescriptions

Doctor

consultations

Lab results

Health records,

claims

The Cases: Turning Data into Portfolio Insights and Health Actions

Wearables


The Cases: Turning Data into Underwriting Replacement

7 days of wearable data can be used for underwriting?


Apps – Are also a Wearable


Focus on Metabolic Risk and Associated Conditions

Lifestyle Risk Factors, have a positive impact on metabolic factors and associated conditions


The Cases: Diabetes App Modules


The Results - Significant Improvement on Health and Claims Costs

• 100,000 people with type 2 went through the program

• 70% engagement

• -7.5kg weight loss (-7% mean loss)

• -16 mmol/mol (1.2%) HbA1c reduction

• 37% of people reduce the number of medications they take

• 60% of people on insulin eliminate medication

• 1 in 2 in type 2 diabetes remission


Health Cost Improvements

43% 16% 19% 21% 37%

AmputationsAdverse

OutcomesHeart FailureMicrovascular

ComplicationsCataracts

Reducing HBA1C by 1%

Association of glycaemia with macrovascular and microvascular complications of Type 2 diabetes. British Medical Journal 2000; 321: 405-412Impact of Glyceamic Control on Healthcare Resource Utilization and Costs of Type 2 Diabetes: American Health & Drug Benefits. 2013; 6(7): 382-392


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The information and opinions contained in the presentation are provided as at the date of the presentation and are subject to change without notice. Although the information used was taken from reliable sources, Swiss Re does not accept any responsibility for the accuracy or comprehensiveness of the details given. All liability for the accuracy and completeness thereof or for any damage or loss resulting from the use of the information contained in this presentation is expressly excluded. Under no circumstances shall Swiss Re or its Group companies be liable for any financial or consequential loss relating to this presentation.

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