More life and health insurers try to bring more of their customers to adopt healthier lifestyles, promoting and incentivizing regular physical exercise, healthy diets, etc. through apps and personal pages on their websites. Often, they do so by granting the best performers access to discounts or free vouchers to be spent with product and service providers involved in the health business.
Goals and Objectives
Insurers can create their own digital platforms or join other digital platforms, with partners originating from different sectors of activity but all active in health and wellness (e.g., fitness centers, spas, medical houses, sport equipment manufacturers, wearables manufacturers, etc.). Each partner can offer its specific connected products and services to predetermined market segments, in an integrated way with the others and aim at covering the needs of a market segment at 360 degrees. Insurers, on top of insuring the individual risks of the customers on the platform (e.g., life, health, accident), cover the risks of the partners on the said platform (e.g., general liability, product liability).
IoT, API architecture, Big Data, Mobile technologies, Cloud, Advanced analytics, Cognitive technologies, Next-gen security, Digital platforms
Use Case Summary
Customers find on the platform a set of products and services related to health and wellness. Whatever customers buy online is automatically or optionally covered by the insurer. The insurer sells its whole line of products and services on the platform. The insurer offers/sells personalized risk prevention services to clients using data generated by customers’ IoT devices on the platform.