«The use of health-based trackers and fitness wearables has been steadily growing with an increase in consumer adoption during the pandemic as people turned to digital devices to manage their health and wellness. A recent study showed that 30% of adults in the U.S. use health-based wearables, mainly in the form of smartwatches, with nearly 50% using them every day.»

“Despite this data being available, the insurance industry has yet to apply it for underwriting purposes. The focus of this report is to assess the potential for using wearables data for underwriting and to identify the key barriers to progress that insurers need to address if they want to embrace this opportunity.”

Article written by Tonya Blackmore Photo By: Cezar Sampaio



International Insurance