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July 27, 2022

Wearables in insurance continue to be discussed positively on social media

By GlobalData Financial

GlobalData’s Social Media Analytics database shows that wearables in insurance receive a solid and consistent number of monthly posts (an average of 741 per month since the start of 2020), which shows enthusiasm for the future of the theme. The number of posts has declined somewhat since the start of 2020 (when the theme averaged 953 posts per month), but it does remain a relatively active topic. Furthermore, it has recorded a strong sentiment score throughout the period, with an average score of 0.94 out of 1.0 over the two and a half years. This suggests that wearables and medical IoT are key and popular insurance themes to watch out for in the coming years.

The net sentiment is measured on an index of 0.0 to 1.0, with the highest possible score of 1.0 indicating that all mentions during that period had been positive, while negative mentions bring the score down, with 0.0 being the lowest.

Social media mentions of wearables in insurance and sentiment score, January 2020 – June 2022

Source: GlobalData’s Social Media Analytics

This chart indicates that while those discussing wearables in insurance are still mostly expected to be industry insiders, experts, or analysts, they are almost always doing so in a positive and optimistic way. This suggests there is still a buzz around the theme and that industry insiders are positive about what is to come in the years ahead.

Furthermore, the issue’s positive coverage and sentiment on social media among industry experts will encourage insurers that this is a trend that should not be ignored. And similarly, more discussion is likely to mean more developments are happening within the industry, so this can be useful to both determine if activity is picking up and potentially estimate if it is likely to grow in the near future.

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