Start time: 10.00 am
End time: 11.00 am
A video of this event is now available to view on:
This session is part 2 of the Life Re Forum Innovation Series. Part 1 was on Tuesday, 26th and part 3 is on Thursday, 28th.
This talk will explore the potential benefits that wearable tech can bring to life & protection insurers and their customers.
The traditional approach of integrating wearables into insurance has largely focused on measuring steps and using rewards-based incentive programs to encourage more activity. This generally appeals to health conscious customers, providing a way for insurers to engage with and grow this segment of the market. The ability of emerging technology and analytics to give early warning of changes in health is likely to have broader appeal.
The session will include a case study from our systems biology partner LifeQ who have recently used data from wearables to develop an early warning system for COVID-19. Their clinically validated approach supports detection of both infectious and chronic diseases. A broader range of metrics monitoring sleep, respiratory function and cardiovascular health can be used to manage risk factors for disease.
Life and protection insurers could use health coaching alongside wearables to drive long-term, sustained health improvements. By using wearables, insurers also benefit from richer insights into the morbidity and mortality risk structure of their portfolios.
This event will be run as a live webinar using Zoom. Click here for information on using Zoom.
NB: As a security measure, there is a two-step registration process before you receive the link to join any webinar. The first step is to register your interest in attending a webinar by making a reservation for an event via the Society’s website. You will receive a link to then register via the Zoom platform. It is after this second registration step that you will receive the link to join the webinar.
Tim Smith is Head of Protection at Hannover Re UK Life Branch. With a background spanning life insurance and pensions, and experience in a number of protection markets across the globe, he is committed to supporting clients in increasing access to protection in the UK. By bringing innovative ideas and supporting clients with their own initiatives, Hannover Re is the go-to reinsurer for any provider looking to challenge the life market norms
Lisa Balboa is a Business Development Actuary at Hannover Re working across the UK Life Branch and the Global Life and Health Digital Business Accelerator. Lisa is passionate about supporting innovation in the protection insurance industry and has previously presented research for the Institute and Faculty of Actuaries on the role of wearables and predictive analytics in managing morbidity risks. To stay at the forefront of using data science to drive business decision-making, Lisa recently completed a part-time MSc in Business Analytics at Imperial College Business School.
Etienne van Wyk is a dental surgeon by profession and has worked in the health industry both as clinician and consultant, in the public and private sectors. As a consultant Etienne developed an interest in the scalable potential of technology, mHealth and wearables as an untapped opportunity in healthcare. In 2016 he joined LifeQ as the Commercial Director and has been responsible for developing new commercial opportunities in the health, wellness and life insurance industries using LifeQ's world leading technology and science expertise.
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