An app can keep your insurance premiums down
Technology continues to shape the way we live, work and, in recent years, also how we play. The world of insurance is no exception to these constant technological innovations.
Adapting to these changes has meant that the life and medical insurance industries have had to alter the way they do business. The development of more attractive, innovative and personalised products and services are on the rise, in order to retain and attract new customers.
“With advances in wearable technology, such as smart watches and health apps, more and more insurance companies have access to their clients’ data with client consent, and therefore the amount of risk they apportion to each individual has changed significantly,” says Vera Nagtegaal, the executive head of Hippo.co.za.
According to McKinsey & Company’s report “Insurance 2030 – the impact of AI on the future of insurance”, technology is shifting the role of insurance companies from “detect and repair” to “predict and prevent”.
“As the majority of lifestyle diseases such as diabetes and cardiovascular diseases can be prevented by simply leading a healthier lifestyle, the ability to identify health risks from an early stage through new body monitoring technologies is giving life and Click here to read entire article
Source:: IT News Africa