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May 14, 2019

Is Avibra’s free life insurance proposition too intrusive?

By GlobalData Financial

Avibra is a US-based insurance provider that promotes positive lifestyle choices by its users. However, instead of offering rewards or mere discounts, Avibra provides life insurance coverage free of charge – but this comes at a separate cost.

Free life insurance sounds too good to be true, and it is. Avibra increases its users’ cover amounts by tracking their positive lifestyle choices, including how much they exercise and whether they pay off their credit card debt every month.

In order to share this information, users need to connect their apps to Avibra’s AI assistant Arya, which collects and analyses all of the data to identify good and bad habits.

While Vitality offers premium discounts based solely on an individual’s fitness, Avibra expands the model to include spending habits, connected car data, and social media. Users need to allow access to much more than just their fitness data – they’ll be granting it a front row view of their entire lifestyle.

This could be a major concern for some users if this model is to be replicated in the UK. According to GlobalData’s 2018 Consumer Survey, only four in 10 term assurance customers are likely to consider using activity trackers in conjunction with their insurance policy. Of those who are unlikely to wear an activity tracker, 42% stated they share too much personal data while 31% quoted privacy concerns.

It is not unreasonable to assume that these concerns will become more pronounced when using an app like Avibra.

Sharing how many steps you take in a day is one thing, but sharing your card purchases, social media posts, and, if possible, your driving data is a completely different proposition.

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