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November 6, 2018

Vitality uses wearable technology to track steps and reward insurance consumers

Vitality, a division of South African insurer Discovery , is using wearable technology to track steps walked as well as heart rates to offer reward points to health-conscious customers.

Using Fitbits and Apple Watches, the insurer encourages its policyholders to connect with the Vitality Member app to check improvements in their lifestyle.

With the Vitality Member app installed on the users’ smartphones, the health insurer can remotely monitor daily steps and heart rate.

Vitality, which  believes that the concept will be the future of insurance, offers “financial incentives” to customers who record their steps and heart rates.

Vitality chief executive Neville Koopowitz told The Telegraph: “We are in the business of underwriting people’s lifestyles.”

“If you do a certain amount of activity you get Vitality points and they translate into incentives,” explains Koopwitz.

He further added: “The output of that behaviour change is that people can lower their health risk and lower their risk of morbidity and mortality.The Vitality programme is a clinically-based, evidence driven programme that uses technology to incentivise people to change their behaviour.”

Vitality rewards

Users are offered incentives in the form of free monthly subscriptions to Amazon Prime andfootball tickets, among others.

Members who show a continuous improvement in their lifestyle are offered  a Platinum, Gold or Silver membership scheme with options to reduced insurance premiums.

Vitality, in collaboration with Generali, Sumitomo and ASA, provides life and health insurance services to over one million members in the UK and 11 million across the globe.

In September, Canada-based Manulife Financial-owned John Hancock announced that the company will only offer life insurance options that utilise a health tracker and wearables.

Customers of the John Hancock will only receive policies that have options with wearables. This will enable them to pay reduced premiums.

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