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your fitbit could make you uninsurable in the future

by:KJTDQ     2020-05-14
Fitbit has been used to track your heart rate, amount of exercise, and sleep time
The basic data that the insurance provider may use to determine your premium.
The boom in wearable health tracking technology means that we now have more information about people\'s health and well-being than ever before.
The Daily Telegraph reports that insurance companies are already using information collected from these devices to calculate insurance premiums, and there are concerns that this may lead to lower premiums for only the healthiest customers.
This is serious.
Insurance companies not only to ensure the lowest interest, but also for their benefit
Risk customers, but also detect potential health conditions before they become serious (and expensive).
A study last year by the Swiss Re Research Institute, a research firm, found that insurance companies have submitted hundreds of patent applications related to \"predictive insurance modeling.
In taking these measures, the insurance company\'s goal is to collect data, help them make better policy decisions, and even adjust existing policies over time.
According to The Daily Telegraph, policy agreements increasingly include provisions that allow insurance companies to collect customer data.
The impact of technology on the insurance industry is not limited to health, and auto insurance companies also use telematics technology to track customer movements.
The Telegraph quoted an example of a car insurance company that threatened to cancel the insurance of a customer who was considered to drive too often at night.
The customer worked the night shift and therefore had to cancel the policy.
So far, many customers are willing to hand over their data due to a commitment to lower their premiums.
S. Insurance company United Health Care is an example of giving customers the option to wear a fitness tracker and reward those who are in good health.
While some benefit from it, there is growing concern that technology will have a broader impact on the insurance industry.
Qualcomm Life then analyzed the sharing with insurers, a company that processes wireless sensor medical data for doctors, hospitals and insurance companies.
As measured by Fitbit, based on how active participants are, they earn $1,500 a year in health care services.
If the customer is healthy and healthy, then this is a win-win situation.
Win for insurance companies and those who pay for insurance: Insurance companies reduce the risk of providing insurance, while customers pay less.
But what if the customer has a problem?
As the technology is being applied more widely, can insurance companies ask potential customers about their Fitbit data in addition to physical examination or laboratory testing?
Just based on data collected from wearable technology, will anyone be denied insurance?
At the moment, the shift is just beginning, but it may have a significant impact on the way insurance is sold in the future.
If we don\'t start investigating this issue today, then the small font of tomorrow\'s insurance policy may appeal to us in a way we can\'t imagine. -
Other reports in the dialogue.
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