Wearable technology, popularized by gadgets such as FitBit, Google Glass, and Nike Fuel Band, is continuing to explode in popularity, creating opportunities to improve the care of injured workers in the process.
The insurer enlisted celebrity chef Tom Colicchio to promote the HealthyFood program, which rewards participants with discounts on groceries and annual premiums.
The National Australia Bank’s wealth management division will use Big Cloud Analytics’ predictive capabilities to engage customers and offer lower insurance premiums.
The shift from indemnification to mitigation is in the best interest of the insured and a great opportunity to provide more and better service, but it’s also a move away from how insurers have done business for hundreds of years.
Wearables that made their appearance in the insurance industry with a certain “bling” quality are likely to soon have significant economic implications for insurers—bang.
The Internet of Things has the power to overcome product commoditization, make insurance relevant to consumers through frequent interaction, and change the very quality of insured risk through dynamic intervention.
In his opening remarks to the 99th LIMRA Annual Conference in Boston this morning Robert A. Kerzner highlighted the impact commoditization can have on an industry and noted that to avoid it, companies need to differentiate themselves through innovation, service or segmentation.
There is no disagreement among leading researchers that there will be tens of billions of devices—computers, smartphones, tablets, and sensors of many different kinds, including wearable devices—connected to and broadcasting readings across the Internet by 2020.
While immersion in the subject of IT can be intimidating for some executives, a rudimentary understanding of evolving developments is an essential responsibility of all senior leadership.
Reflections on a fundamental shift in the way insurers serve policyholders, discussed at SAP’s Financial Services Forum in London.