2018
DOI: 10.1111/rmir.12112
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Abstract: A health risk score was created to investigate the possibility of using data provided by wearable technology to help predict overall health and mortality, with the ultimate goal of using this score to enhance the pricing of health or life insurance. Subjects were categorized into low‐, increased‐, and high‐risk groups, and after results were adjusted for age and sex, Cox proportional hazards analysis revealed a high level of significance when predicting mortality. High‐risk subjects were shown to have a hazard… Show more

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Cited by 18 publications
(10 citation statements)
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“…InsurTech can also help to improve existing products, services and processes, as well as enable new business models. For instance, advanced technology underpins insurance models ranging from behaviour-based pricing, widely studied in the car insurance industry (Derikx et al 2016 ; Weidner et al 2016 ; Wijnands et al 2018 ), to personalisation linked to data retrieved from wearable devices (McCrea and Farrell 2018 ; McFall 2019 ). Peer-to-peer insurance models are another example, where people can partly share risks with each other (Stoeckli et al 2018 ).…”
Section: Overview Of Innovation Processes and Models In Insurance: Technology And Market Impulsesmentioning
confidence: 99%
See 1 more Smart Citation
“…InsurTech can also help to improve existing products, services and processes, as well as enable new business models. For instance, advanced technology underpins insurance models ranging from behaviour-based pricing, widely studied in the car insurance industry (Derikx et al 2016 ; Weidner et al 2016 ; Wijnands et al 2018 ), to personalisation linked to data retrieved from wearable devices (McCrea and Farrell 2018 ; McFall 2019 ). Peer-to-peer insurance models are another example, where people can partly share risks with each other (Stoeckli et al 2018 ).…”
Section: Overview Of Innovation Processes and Models In Insurance: Technology And Market Impulsesmentioning
confidence: 99%
“…The sector is, so far, clearly struggling with innovation and change (Zweifel 2021 ; Nam 2018 ), and insurance companies are not taking full advantage of the intangible nature of their products and services, which could enable them to become digital leaders (Stoeckli et al 2018 ), despite several efforts having been made. Data abundancy has facilitated the emergence of new insurance business models, ranging from peer-to-peer insurance (Stoeckli et al 2018 ) and personalisation achieved through wearable devices (McCrea and Farrell 2018 ; McFall 2019 ) to insurance policies tailored to individual behaviour (Dijksterhuis et al 2016 ), such as pay-how-you-drive (PHYD) policies, where pricing reflects driving style (Stoeckli et al 2018 ). Ultimately, these kinds of pay-as-you-live policies induce policyholders to adopt preventive measures (Wiegard and Breitner 2019 ), with potential economic and financial benefits.…”
Section: Introductionmentioning
confidence: 99%
“…In France, Generali–Vitality declined to launch the product in direct to consumer markets and packaged it to employer markets as a social responsibility solution to mitigate reputational damage (Generali Vitality IV #2, 2018). Major insurers have not taken the view that self-tracking data can price individual health risk more accurately (EIOPA, 2019; McCrea and Farrell, 2018). Even if they did come to believe in individual risk modelling it is still uncertain that any efficiency gains would offset the associated infrastructural expenses and reputational costs (c.f.…”
Section: Behaviour Branding: the Vitality Programmentioning
confidence: 99%
“…The understanding here is that the traditional aims of the personal insurance businessestablishing frequent positive connections with the insured, making insurance more interesting and improving customer loyaltycould be achieved through digital tools (Falkous and Callaway 2018). Meanwhile, the tech and insurance industries perceive that insurtech solutions could help manage the risks of serious illness and death through manipulating people's behaviour (Falkous and Callaway 2018); finally, the data generated through tracking devices such as wearables and smartphones could be used in actuarial calculations to improve risk selection (McCrea andFarrell 2018, Wiegard et al 2019).…”
Section: Insurance and Everyday Lifementioning
confidence: 99%