The market of wearable devices is expected to grow exponentially over the next years, disrupting the whole healthcare industry. So far, lifestyle and fitness trackers with limited accuracy dominate the market. With the rise of integrated solutions, more and more vital sign monitors for medical purposes with sophisticated sensor set-ups to provide robust and reliable measurements are entering the market.
Wearable devices generate completely new datasets. Insurers are already seeking to capture data from fitness devices to encourage good behaviour; to act as a value-added service to policy holders; to help underwriting and claims management and to use the data within health insurance models. Yet, it is not just insurers who are interested in fitness data. This is also becoming a way for healthcare providers to reduce costs or corporations to increase health awareness among its employees.
At the conference, we will be hearing how fitness data is analysed to make sense of it all and turn the wealth of data into valuable and actionable insights. We will discuss product and customer service solutions and share how the data can be shared with medical and other stakeholders in a common ecosystem. And we will also consider the data security requirements of such digital environments.
Finally, we will be asking what the next generation of wearable devices will bring. We already know that they will become more directly health focused, able to capture blood sugar levels or interpret vital signs to anticipate a cardiac event. We are probably not many years from implanted smart health devices – at which point the stakes for insurers will be all the higher.