The uptake of technology by consumers and healthcare providers means biometric data can become more personalised and precise. Soon data generated through wearables and software apps will be used to augment personal electronic health records. For insurers technology that links up personal health metrics could allow new product and distribution ideas. Read more here: http://www.genre.com/knowledge/blog/the-growing-impact-of-wearables-on-digital-health-and-insurance-en.html

1. Where will self-tracking
wearables take Life and
Health insurers?

2. Self-tracking technology has
been around for years, but with
improvements it’s gained
more appeal.
It’s easy for people to
measure and track
their physical
activity and
certain vital
signs.

3. this is a technological movement that
helps people improve their own health
by measuring and logging their daily data
and performance.
Known as the
“quantified self,”

4. Wearables:
Devices that facilitate self-tracking and belong
to the fast-expanding group of Internet-
connected tools known collectively as
Usage Based Devices (USB).
The wearable is synced with a software
application that often runs on a mobile device.

5. More people are using USBs to generate personal
health information.
Source: International Data Corporation.
In 2020,
140M+wearables are
projected to be sold.
In 2014,
70M+wearables were sold.

6. In the future, a real-time record
of day-to-day wellness could
supplement data from episodic health
checks and emergency clinic visits.

7. Personal electronic health records
will be augmented using data
from USBs.

8. Wearables are only
one aspect of digital health.
Other changes are also making healthcare
more personalised and precise.

9. Smart handheld or implantable devices
can be integrated into a network that allows them
to communicate with each other.
Patient Monitoring Drug Delivery
Diagnostics

10. Sensors make it possible to track
patients remotely and over
extended periods of time.
Devices allow monitoring of
physiological cues associated
with conditions like depression,
frailty, heart failure, diabetes, epilepsy,
Parkinson’s disease, and can help
manage pain and other symptoms.
Image: Gentag

11. Two distinct sources of medical information
are developing alongside each other:
And insurers are trying not to be left behind.
Traditional health records
stored by
medical professionals
New, quantified self-data
created by consumers
with wearables

12. Some life and health insurers already sell products
that work well with tracking technology.
However, we don’t know yet if the technology will be
disruptive to protection business, even revolutionize
underwriting and claims or allow new distribution models.

13. Apart from the fact that not every
consumer would be keen to
self-track, how people actually
use devices could mean
the data generated is
unreliable.
The outputs would need to be
correlated with the traditional evidence
used in risk assessments.

14. Just as “black-box” telematics
devices have influenced
Auto/Motor cover, it is possible
lifestyle data from USBs
could help life and
health insurers to
control mortality
and care costs.
Life and health insurers must
think how digital health data could
integrate with traditional methods used
in underwriting and claims.

15. Wearables and apps may
offer insurers the potential to reach new customers.

16. Products could be marketed via apps to
health-conscious individuals or people using technology
to manage medical conditions, such as diabetes.

17. © 2016 General Re Corporation | This presentation is intended to provide background information for our clients and professional staff.
It is time sensitive and may need to be revised and updated periodically.
If you are using wearable technology to influence
your business, or if you want to explore the subject of
Digital Health more, I’d like to hear from you.
+44 20 7426 1803
ross_campbell@genre.com
Ross Campbell
Life/Health Chief Underwriter,
International Research & Development,
London