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Wearables in insurance: a win-win opportunity

Friday 14 May 2021 10:30 - 11:30

This talk will explore the potential benefits that wearable tech can bring to health & 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 acute changes in health is likely to have broader appeal. We aim to 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. Insurers can 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. There’s also an opportunity to embed dynamic underwriting, supporting access to insurance for those with well-managed conditions such as diabetes.

This webinar will run from 10.30 - 11.30 (UTC)


Lisa Balboa, Hannover

Lisa Balboa is a Business Development Actuary at Hannover Re UK Life Branch and is passionate about supporting innovation in the protection insurance industry. Lisa 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 is currently studying a part-time MSc in Business Analytics at Imperial College Business School.


Tim Smith, Hannover

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 is the go-to reinsurer for any provider looking to challenge the life market norms.


Christopher Rimmer, LifeQ

Christopher is the Chief Commercial Officer at LifeQ, responsible for building LifeQ’s global business relationships. This includes working with major consumer electronics companies and their silicon partners to re-imagine the potential of wearable devices as sources of valuable health information and then using this information to build innovative solutions with a range of business customers. A key focus for this is global insurance companies looking to leverage new digital information sources and fundamentally change their approach to risk assessment and management, ultimately seeking to provide health as a service to their customers. 

Growing up in South Africa, Christopher completed an MBA in the UK, then spent 16 years working in global roles based mostly in the UK, before returning to South Africa where he now lives in the winelands just outside of Cape Town with his wife and two sons.

Chair:  Zoe Woodroffe, Deputy Chair, H&C Lifelong Learning Committee