How Wearable Technology is Influencing The Insurance Industry. A nice infographic about Wearabble Insuretech from LifeInsurancePost.com.
In 1964, Edward Thorp invented a tiny gadget to cheat roulette in a Las Vegas Casino. A couple of years later, Captain Kirk demonstrated his wrist communicator on a TV show.
These were the first wearable devices the world witnessed. Since then, wearable technology has evolved and today it has grown into a billion dollar industry.
We have the likes of Google Glasses, Apple smartwatches, Nike Fuelbands, Golden–I, and Fitbit fitness bands that can perform a range of tasks to make our life a lot easier.
Wearable technology encompasses a range of smart devices that can be worn around a particular part of the body or attached to a device or clothing. Their primary role is to watch our physical and mental performance and give out the result in understandable stats.
In turn, it helps us to understand our physical and mental well-being better and take steps to lead a healthy lifestyle. The activities tracked by wearables include the amount of calories burnt in a workout, steps covered while walking, hours slept, and more. No matter, what activity you wish to track, there is always a readymade gadget available in the market.
It’s really amazing that what was invented to cheat a game is now helping people to understand their health. Insurance and health are synonymous with one another. Today, wearables are impacting the way insurance companies interact with their customers.
Did you know that you could get up to 15% discount on your insurance premium if you provide your wearable data to your agent? Why are companies ready to offer you lower insurance rates in exchange of your health report generated by smart devices? Find out some interesting answers in the wearable technology insurance Infographic below.