Wearable devices: will they really catch on in the health insurance industry?
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Transcript of Wearable devices: will they really catch on in the health insurance industry?
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Wearable devices – Will they really catch on in the health insurance industry?
The annual smart wearable healthcare market volume will grow from $2 billion in 2014 to $41 billion in
2020, a compound annual growth rate of 65%.- Source: Soreon Research
Wearable technology could lower hospital costs by as much as 16% over the course of 5 years, and remote
patient monitoring technologies could save the global healthcare system $200 billion over the next 25 years.- Source: CDW Healthcare
88% of physicians want patients to monitor their health parameters at home- Source: Orange Healthcare
63% of insurers see wearables as having a 'significant impact' on the industry, and that their use in premiums would be 'wide-spread' in just two years - Source: Accenture Technology Vision Report
35% of insurers are investing comprehensively in digital as part of their overall business strategy- Source: Accenture Technology Vision Report
51% of insurers plan to partner with major digital technology and cloud platform leaders in the next two years- Source: Accenture Technology Vision Report
44% of insurers believe the volume of data they manage has grown by 50% or more in 2015- Source: Accenture Technology Vision Report
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Contents
I. Wearable devices: Trends and challenges
II. Next steps for Insurers and Health care providers
III. Case study: healthcare devices by risk factors
IV. Case study: wearable devices used by Health Insurers
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Wearable devices: Trends and challenges
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The evolution of connected technologies is bringing the healthcare industry to a convergence point
Proactive management
Reactive management
Gen
eral
hea
lth
care Specific d
isease
s
2nd generation
• Proactive health monitoring
3rd generation
• Proactive monitoring
• Specific disease personalization
• Real-time• Data processing
1st generation
• Reactive programing and monitoring
2nd generation
• specific disease focus
The evolution of connected technologies Health Care Industry
Trends and impacts
1. Technology
The features and focus of wearable devices are going to be more sophisticatedand move beyond well-being, general care, and specific diseases.
3. Players
The adoption of wearable devices has grown broadened from health enthusiast to healthcare providers, employers, insurance companies
2. Data
Different type of actionable data are collected from users, from health life styles to specific disease data that could be used for labs and clinical research.
4. Incentive adoption
Employers and insurers are starting to take proactive approaches to the adoption of mobile with incentives to decrease medical cost.
5. Business models
Incentivized adoption changes life style and behaviors of customers and will shift the underwriting, pricing and profit model of healthcare industry players.
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While connected devices have begun to gain traction, opportunities remain
Product Development
Underwriting& Risk
Management
Policy & Claims Management
Healthcare Services
Provider Network
Management
Provision of Care
MarketingSales &
Distribution
Insurers Care ProvidersHealthcare services
Ke
y In
sigh
tsIo
Tp
laye
rsIn
sure
rs
Most insurers integrate wearables into their marketing strategy to engage customers, employees or partners though very few are using the data for underwriting
Some players have incorporated wearable devices data into life insurance pricing, offering premium discounts to entice less risky customers
Insurers have set pricing options based on how frequently policyholders agree to share personal health data
New products announced by major insurers which include free wearables and premium discounts for healthy lifestyles
Insurers in near term plan to use wearables to:
⁻ Support workers’ compensation and personal auto injury claims management
⁻ Offer riders for other products such as long term care and critical illness through data analysis
⁻ Identify fraud in claims management through video, images and audio
With very few insurers active in this segment, wearables (IoTplayers) offer huge opportunity for health insurers to partner with healthcare service providers
IoT players may enable monitoring & managing recuperation time of patients, helping further in claims management
Hidden Potential
Integration RequiredEmerging Area
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Regardless of the recent growth in connected technologies recently, there are still obstacles
Consumers Insurers
Government/ regulations
Health Care Service
Providers
Low adoption rate with people
not motivated enough to wear
the trackers or devices
High costs of wearable devices
Data privacy concerns limiting
the use of wearables
Employees &
Employers
Individuals
Health Insurers
Life Insurers
Technology Providers
Insuretechs(Startups)
Complex consumer engagement
to build trust
Higher infrastructure
investment for connected
information
Data collection strategy for
unstructured data
Security challenges
Interoperability issues with
existing primary and secondary
healthcare systems
Higher analytics requirement
for better healthcare delivery
and treatments
Low reliability and connectivity
of wearable technology
Personal Data Protection Act
for privacy guidelines and
policies
Low integration of the public
and private healthcare systems
Lack of standards around user
privacy and security as well as
intellectual property issues
Inconsistent quality of data
precision, highly dependent
upon device specs
Requirement of two way
communication and sending
readings directly to the
hospital's integrated medical
records system
High investment required for
connected device development
Lack of customer base for
complete product definition and
analytics
Sensor technology
Medical device
manufacturers
Government Health
Departments
Hospitals
Polyclinics
Pharmacies
Doctors
Fintechs
Insurance
Technology
startups
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Next Steps for Insurers and Healthcare Providers
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Data collected through wearable devices will bring important changes to the value chain
Products & Services Offering
Underwriting Pricing Risk Prevention Claims
More personalized products and services by targeting specific health statuses
Adaptable packages and protections to match customer expectations
Underwriting of generic illness will drop due to close monitoring
Focus on underwriting of specific diseases / risk types will be more preferred and affordable
Predict most vulnerable and likely risk types and price accordingly
More accurate pricing thanks to precise data and granular variables
Detect the first passive signalsthrough data and take immediate prevention measures
Additional functionalities to provide alerts, warning and to react in a timely manner
Facilitate decision making for claims approval supported by collected data
Automating claims process
Facilitating interaction with customer
Well-being dataCalories consumption, sport and fitness data to track user’s health condition and well-being status
Clinical Lab data Self-monitored health data streamed directly into clinical data repositories for lab tests to monitor the user’s health condition, and into e-health records of patients with chronic diseases.
Data is transforming from Monitoring Fitness, to Clinical Lab Testing and E-Health Records
Regulatory landscape will evolve to give more granular guidelines
Dat
a U
sage
Social media networks- Epidemiological
impact assessment based on social network data and better pricing model of community risk
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Wearables can be used to promote prevention and health coaching
Partner with wearable companies to track
consumer fitness data and provide incentives
Leverage wearable devices data during checkups or patient visits to support
diagnoses and advice
Partner with health startups and wearables to
integrate content / marketing material
Insurance Carriers
Healthcare Providers
Insurance Carriers
By incentivizing customers with gift cards, gym reimbursements, etc. consumers will be more apt to stay healthy- Thus, the associated risk of insuring this customer is lowered
Additionally, incentives will improve customer loyalty and brandawareness as a positive touchpoint with insurance brands
As consumers continue to flock to startup fitness apps and cutting edge wearables, there is an opportunity to be more involved in content within these channels
Insurers can leverage these emerging channels to share relevant content and introduce potential customers to their brand
These customers may be preferred giving their focus on fitness, though data from these providers can be leveraged to target appropriate risks
Regular checkups can include reviewing heartrate and exercise data to help ensure patients are keeping proper habits
Additionally wearable data can be used when diagnosing a condition during a doctor or hospital visit to help understand how the patient’s heartrate and other vitals have been functioning recently
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Claims processes can be further automated by using connected devices
▪ Recent studies show that monitoring fitness using the current generation of mobile devices reduces health claims by 16%▪ Imagine when the quality of data, real-time feedback and ease of use of wearables becomes the norm, the reduction in health
claims will be substantial▪ The saving are so striking that some insurers and employers are now subsidizing the cost of wearables as part of their wellness
program
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Partnerships with healthcare providers can improve efficiency in treating minor illnesses and responding to emergency situations
Improving the potential outcome of a heart attack, through early detection
Life threat detect: early detection (or prediction) of potentially life threatening conditions such as a heart attack
Life threat evac: priority notification to emergency services of your location and condition (even if you are incapacitated)
Life threat eval: real-time connection through your wearable devices with a qualified expert to assist you with evaluating your symptoms and vital signs; can automatically set up an appointment with your preferred health provider
Monitoring and alerting of epileptic seizures
Current wearable devices can call for help during a seizure Products in development may one day be able to predict a seizure
before it happens They may even help avoid a seizure entirely by prompting
medication before it strikes
Prevention of allergic reactions and medical emergencies
Nima, a smartphone-connected allergen device that tests food for various proteins and substances beyond gluten
Aibi is a wearable and easy to use epinephrine auto-injector for kids to determine allergic reactions and a medical emergencies alert system to alert adults in case of an emergency situation
Veta smart case is a transparent case with temperature sensor to monitor and raise alerts when the wearer suffers an allergic situation
Several initiatives and trends are visible concerning partnerships of wearable companies with healthcare providers:
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Insurance carriers and healthcare providers should begin testing these strategies
Establish key performance metrics and develop the project plan for integration with partners and providers and updates to existing systems
Develop partnerships and define terms of the agreements
including data security and privacy controls
Manage the implementation including the systems integration, data management and analysis, and associated content creation
Gather the right team of experts with insurance knowledge and startup
connections to identify and prioritize strategic objectives
InsuranceCarriers
Healthcare Providers Analyze existing data structures and governance models with
partners and define integration requirements
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Case study: healthcare devices by risk factors
Wearable devices case study
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Connected Devices Benchmark – Adoption Vs. Specialization
1. Insurers and employers are
focused on the general well-
being and fitness aspect
providing fitness trackers as part
of their customer acquisition &
data analytics initiatives
2. Disease specific wearables is an
emerging area for health
insurers as well as health care
providers
3. Critical illness, although one of
the major components of health
insurance, is yet to see a high
adoption rate of wearables –
opening up a huge opportunity
for health insurers
1
2
3
Deg
ree
of
spec
ializ
atio
n
Degree of adoption in Health Insurance
Circadia
Health
Breast CancerCircadia
Health
Diabetes
Circadia
Health
well-being- High Stress, sleep
Circadia
Health
Seizures
Circadia
Health
Parkinson’s disease
well-being – Stress,
fever, cardio vitals
Foetus monitoring
Knee & foot
health
High Stress
Fitness & sleepFitness & sleep
Hospitalization
Dental HealthJet Lag
General well-being
Prescribed Medication
1
2
3
Circadia
Health
Autism
Healthcare
Diabetes
Smart
Contact lens
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OVERVIEW
Dexcom G5 employs Continuous Glucose Monitoring (CGM) to provide accurate, real-time glucose readings for people with type
1 or type 2 diabete.
Dynamic glucose data can be accessed via mobile app. The Dexcom G5 Mobile continuous glucose monitoring (CGM) System is
the first completely mobile continuous glucose monitoring system - sending glucose readings to the users’ compatible smart
device every five minutes.
Glucose data tracked by G5 can be easily integrated with
app such as Apple Health.
It expands patient options for viewing real-time CGM data.
Compared to product with invasive measure and complex
operation process, G5 provides a better customer
experience.
A discrete sensor located just on the abdomen, continuously
measures glucose levels.
CGM data is automatically transmitted to the iPhone via
Bluetooth and to Dexcom cloud through the phone.
- The integration with the phone enables a user to share
and access his real time data and also get alert and
relevant notification.
- The Dexcom web-based software platform simplifies
diabetes data reporting and management for patients,
caregivers and healthcare professionals
Optional and alternative receiver device to monitor blood
sugar level.
XX
Disease-specific
Wearable Technology
Category
2015
Launch
Type I & II Diabetes
Target Customer
US
Location
Dexcom G5 for diabetemornitoring
Product
KEY FEATURES KEY BENEFITS
1
2
3
1
2
3
Disease / Diabetes
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KEY FEATURES
OVERVIEW
iTBra is a personal screening tool for breast cancer, which has demonstrated an 87% correlation to a verified, clinical diagnosis
of breast cancer including with those patients with dense breast tissue
Developed in conjunction with Nanyang Technological University of Singapore, the Cyrcadia Health solution employs big-data
predictive analytic software to deliver accurate screening result
Revolutionary wearable technology to provide breast
cancer prevention
Provides home-based breast cancer early detection, which
is more convenient and accessible than breast
examinations in clinic
Foster the awareness of cancer prevention and the habit
of regular self-examination
Accessibility: Home-based, non-invasive and discreet early
breast health screening system
- The sensors track temperature changes to monitor
increased blood flow that correlates with the growth in
cancerous tumours
Connectivity: Smart phone enabled device communicates
with Cyrcadia Health solution laboratory
- Big-data predictive analytic software employed to deliver
accurate, reproducible and automated results to health
care providers
XX
Disease-specific
Wearable Technology
Category
To be announced
Launch
Women
Target Customer
US
Location
iTBra for breast cancer monitoring
Product
KEY BENEFITS
Disease / Breast cancer
Breast tissue diagnosis wear
Short Description
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OVERVIEW
The E4 wristband is a wearable wireless device designed for continuous, real-time physiological monitoring in daily life
Used for data-gathering in empirical studies or clinical trials
Impressive ability to integrate with other apps and
devices
Real time data monitoring and seamless connection with
cloud storage
Embedded with multiple sensors that can capture skin
temperature, sympathetic nervous system arousal, heart
rate, heart rate variability (HRV), and other cardiovascular
features
Wristband can be connected to mobile phones through
Bluetooth and data can be viewed and accessed on a secure
cloud storage and PC
Photoplethysmography Sensors measure Blood Volume
Pulse (BVP), from which heart rate, heart rate variability
(HRV), and other cardiovascular features may be derived
3-axis Accelerometer captures motion-based activity and
tags events and correlate them with physiological signals
User can build custom apps that leverage real-time data
from the wristband
XX
Disease-specific
Wearable Technology
Category
2014
Launch
Clinicians, Academics
Target Customer
US
Location
E4 wristband
Product
KEY FEATURES KEY BENEFITS
Disease / Cardiovascular disease
Wrist bands for monitoring heart rate
Short Description
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OVERVIEW
Kinesia 360 uses wearable sensors and a mobile application to continuously and objectively measure Parkinson’s symptoms
during the day. An electronic diary also records patients reported outcome and medication events
Kinesia One measures Parkinson’s disease motor symptoms including tremors. Individuals interact with an ipad app while
wearing a sensor to assess symptoms
Easy to use and the system can be integrated into clinical
trials or patient care.
Real-time monitoring of post-hospitalization activities
and medication.
Kinesia 360: Two sensor bands allow accurate and clinically
validated assessment of Parkinson’s motor symptoms. The
bands communicate with a dedicated app via Bluetooth. And
patients interact with the app by inputting diary data. Motor
and diary data are transmitted to a secure cloud storage,
which can be accessed by clinicians via the Kinesia web
portal
Kinesia One: The sensor is worn on the finger during
specific tasks, it transmits the motion data wirelessly to iPad
mini using a Bluetooth radio. The user interacts via the tablet
touch screen
Proview: Turns maps of each patient in the database into
viewable PDFs
XX
Disease-specific
Wearable Technology
Category
2015
Launch
Patient with Parkinsons
Target Customer
US
Location
Kinesia 360
Kinesia One
Proview
Product
KEY FEATURES KEY BENEFITS
Disease / Parkinson
1
2Sensor bands for monitoring Parkinson’s disease symptoms
Short Description
20
OVERVIEW
QardioCore is a wearable and wireless electrocardiogram (EKG/ECG) device, which targets comprehensive heart health
monitoring. Clinically validated, it also focuses on design and features that fit into people’s lifestyle
QardioCore EKG/ECG monitor is the winner of many prestigious awards for its innovative technology and design
Incorporated within modern lifestyle and increase
potential usage through comfortable and unique design
With real time data sharing and analysis, QardioCore has
wide application such as medical-level chronic condition
monitoring and sports performance management
Connectivity: View and accurately record live continuous
EKG/ECG data on iOS device
QardioCore also monitors heart rate and heart rate
variability, body temperature, stress levels, respiratory rate
and activity tracking
QardioCore wireless EKG monitor has been clinically
validated to accurately record and analyze user's overall
heart performance in real time so doctors and healthcare
providers can access medically accurate live data remotely
QardioCore wireless bluetooth EKG monitor is splash and
rain-resistant, suitable for everyday use
XX
Heart Disease
Wearable Technology
Category
2014
Launch
General
Target Customer
Australia
Location
QardioCore
Product
KEY FEATURES KEY BENEFITS
Disease / Heart disease
ECG wearable for health monitoring especially heart rate
Short Description
21
OVERVIEW
Spire is a wearable activity tracker worn on the waistband or bra strap designed to analyse breathing to determine levels
of tension, calm, or focus
It is a wearable device that not only tracks people’s activity, but also monitors tension and stress. It seeks to identify
potential mental health issue and improve the state of mind by introducing daily meditation and breathing exercises
Dedicates to mental health monitoring, the market of
which has few player
Suitable for employee tension management
Spire uses research from Stanford‘s Calming Technologies
lab to understand people’s state of mind
Spire helps user to discover the time they are stressed,
where it happens, and what they were doing, in addition to
its activity tracking functions
Connectivity: Able to integrate with apple health and iOS
application to upload data and generate user reports
XX
Mental Health
Wearable Technology
Category
2014
Launch
General, employee
Target Customer
Singapore
Location
Spire stress tracker
Product
KEY FEATURES KEY BENEFITS
Disease / Mental health
Activity trackers for hypertension and stress management
Short Description
22
OVERVIEW
Neuroon is an intelligent sleep mask that combines medical grade sensors and software with a mobile application to help
ease jet lag, track sleep cycle and conduct sleep analysis
The wireless device connects to a mobile app to monitor brain waves, analyzes sleep patterns, and uses bright light therapy
to help improve sleep quality
Produces detailed and comprehensive sleep analysis
Other major functions such as jet lag blocker and sunlight
boost attracts potential buyers with similar needs
There are four biometric sensors in the Neuroon that
measure EEG, EOG, pulse, motion and temperature with four
LED lights that give signals to the user
The mask communicates with the app on both IOS and
Android systems, transferring biometric data, and enabling
user to access the full suite of six functionalities
Four different components make up the Neuroon system:
the mask itself (made of hypoallergenic material), a
removable sensor pack (chargeable via microUSB), LED lights
and electronics encased in the mask and the companion
mobile app
The Neuroon app is developed to better help user explore all
functionalities
XX
Sleep Analysis
Wearable Technology
Category
2013
Launch
General
Target Customer
France
Location
Neuroon sleep mask
Product
KEY FEATURES KEY BENEFITS
Well-being / Sleep analysis
Sleep mask for sleep analysis & jet lag reduction
Short Description
23
OVERVIEW
Embrace is designed to improve the lives of people that live with epilepsy by continuously monitoring physiological stress,
arousal, sleep and physical activity
Like other fitness watches ,the Embrace watch provides a multi-functional experience – it can also be used for stress
management, sleep management and remote monitoring
Comprehensive data analysis system and easy data
extraction. Opt-in choice to consent to distribution of
personal data).
Stylish and comfortable design compared to other
epilepsy prevention devices.
4 different sensors are implemented to capture real-time
physiological data accurately.
Affordable choice for seizure monitoring and notification,
sleep monitoring, stress management and activity tracking.
Key features embedded in Embrace:
- Nervous System monitoring
- On-wrist notification
- Sleep monitoring
- Stress management
- Activity tracking
Connectivity: The Embrace watch is linked to the wearer’s
mobile device via Bluetooth connection, which allows the
systems to analyze the information.
XX
Well-being,
Wearable Technology
Category
2015
Launch
General
Target Customer
US
Location
Embrace Watch
Product
KEY FEATURES KEY BENEFITS
Well-being / Stress and sleep management
Watch to monitor sleep patterns & stress management
Short Description
24
OVERVIEW
Fitbit Blaze is one of the most popular smart watches dedicated to fitness monitoring and activity tracking
Multiple fitness activity trackers based on consumer needs e.g. steps, distance, calories burned, floor climbed, active minutes,
sleep tracking and alarms, continuous heart rate, auto exercise recognition etc.
One of the earliest players in the market, with strong
branding and large client base.
Multiple functionalities but with an affordable price.
Practical but stylish as well.
Improved workout experience through continuous heart
rate tracking, GPS connection and workout coaching etc.
It can be connected with phones to receive text alerts and
control music
It records sleep cycle and can better people to tailor their
sleepinghabits
Key models include: Zip, One, Alta, Flex, Charge, Charge HR,
Blaze, Surge, Aria
XX
Smart Health
Wearable Technology
Connected Health
Category
2016
Launch
General
Target Customer
US
Location
Fitbit fitness watch
Product
KEY FEATURES KEY BENEFITS
Well-being / Fitness
Activity tracker for general well-being
Short Description
25
OVERVIEW
Stridalyzer is a recent entry in the rapidly-growing market for wearable fitness-tracking devices
Stridalyzer focuses on the feet and the knees
It includes basic features like pace, distance, stepcount, runhistory, real time measurements, post run analysis & guidance.
Tracks fundamental aspects of form and running style,
which most trainers say are the foundation of achieving
better performance and staying injury-free
The sensors in the insole connect with a smartphone app,
which through a combination of local and cloud-based
processing, learns the runner’s running form, style and
various pressure points, and provides real-time advice to the
runner to help them run with the correct form
It uses patent-pending hardware and sensing technology,
along with sophisticated bio-physical modeling of the human
leg during running for its analytics
Stridalyzer helps runners by simplifying these parameters
into two fundamental metrics: PerfScoreTM , the measure
of their overall performance in a run, and FormScoreTM, the
measure of their running form and style (and hence the
injury risk) over the run
XX
Well-being
Wearable Technology
Category
2015
Launch
coaches and trainers
Target Customer
US
Location
wearable sensor-tted insole
Product
KEY FEATURES KEY BENEFITS
Well-being / Fitness
Insole sensors for feet & knees for injury prevention, placed inside running footwear
Short Description
26
OVERVIEW
Modoo is one of the smallest fetal monitoring devices. It provides continuous fetal heart rate monitoring as well as
physiological data recording of the mother-to-be
It also enables the mother-to-be to communicate with a physician by sharing monitoring data and also works as a fitness
tracker, improving the users’ health management
One of the smallest fetal monitoring products in the
market
“Passive monitoring” without radiating, which makes fetus
monitoring continuous, easy and safe
Fetal heart rate and heartbeat: Modoo enables mothers-to-
be to record their babies’ heart rate and heartbeat at
anytime and anywhere
Maternal health: By recording their heart rate, breathing,
walking distance and sleep quality, Modoo helps to monitor
the health status of mothers-to-be
Fetal movements: Staying alert 24/7, Modoo continuously
records the babies’ movements
Modoo makes communication more effective by connecting
both App and hardware
XX
Maternity
Wearable Technology
Remote monitoring
Category
2015
Launch
Pregnant women
Target Customer
US
Location
Modoo fetus monitoring patch
Product
KEY FEATURES KEY BENEFITS
Maternity
Fetal heartbeat monitoring device
Short Description
27
OVERVIEW
This electric toothbrush is embedded with a Bluetooth chip that sends the sensory data to a mobile app that records dental
hygiene protocol
It is made to sense when, how often and for how long it is in the mouth whilst brushing teeth.
Beam also offers a dental insurance plan coupled with direct shipment of brush related product
One of the few wearable devices related to dental health
management
Potential future incorporation with insurance plan
provided by this company
App connected: Six-axis motion sensor tracks and records
users’ daily brushing habits and data is transferred to
smartphone via bluetooth
Children incentivizing feature: Get real time notification of
when and how long children brush their teeth
Reward system: Collect stars as user brush and compete
with family and friends to earn real rewards like free beam
brush refills
Personal settings: Able to adjust the brush speed, monitor
battery life and brush head life all from smartphone
XX
Dental insurance
Wearable Technology
Category
2012
Launch
General
Target Customer
US
Location
Electric Toothbrush
Product
KEY FEATURES KEY BENEFITS
Dental
With Bluetooth Built-in, electric brush is used for dental hygiene and insurance rewards
Short Description
28
Hospitalization
OVERVIEW
MyCarolinas Tracker app directly integrates with more than 25 health trackers, 3 pulse oximeters, and 7 bluetooth blood
pressure cuffs to keeps track of patients’ health records
Carolinas HealthCare System utilizes Canopy as their electronic health record and makes all the information available to be
viewed by the physician in their electronic health record
By connecting the devices to Electronic Medical Records
(EMR) system, hospitals can achieve greater
completeness, timeliness and accuracy of data than via
manual recording
Easy tracking of the various blood pressure readings —
enabling the physician to titrate the patient’s blood pressure
appropriately
Clinically relevant data: Take data from wearables and make
it clinically relevant for patients and physicians
Enhances Clinical Decision Support (CDS) capabilities: CDS
helps doctors with diagnosis and decision-making tasks, such
as drug selection and dosing
The app tracks lab data, such as blood sugar and cholesterol
levels and helps create reports to be shared with doctor or
health coach
Free app for the Carolinas patients
XX
Wearable Technology
Connected Health
Category
2015
Launch
General
Target Customer
US
Location
MyCarolinas Tracker
OneCarolinas
Product
KEY FEATURES KEY BENEFITS
Apps to track patients health records & reports
Short Description
29
Medication
OVERVIEW
FDA-approved medication (ABILIFY) has been combined and submitted for approval with a sensor within the medication tablet
(the Proteus ingestible sensor) to measure actual medication-taking patterns and physiologic response
In Jan 2016, Barton Health, a California hospital became the first in the US to prescribe ingestible sensors from Proteus
Proteus and Otsuka Pharmaceutical, a Japanese life sciences company, applied for regulatory approval of an anti-depressant
drug incorporating an ingestible sensor (March, 2016)
Empowers patients to take the appropriate dose of
medication and better understand the importance of daily
activity levels and other lifestyle changes
ABILIFY tablet contains an ingestible sensor that
communicates with a wearable sensor patch and a medical
software application to monitor the activity patterns and
response for the patients
Discover App: Patients can use the app to keep track of the
medication, set up medication reminders and monitor their
activity levels including steps they have taken, rest levels,
heart rate, blood pressure and weight
Discover Portal: Used by healthcare professionals to monitor
the patient and provide the best treatment plan for the
patient
Analytical services and reports from Proteus Discover may
enable physicians to better tailor treatment to the needs of
the patient
XX
Personalize Medicine
Wearable Technology
Category
2015
Launch
General
Target Customer
US
Location
Proteus ingestible tablet-embedded sensor
Product
KEY FEATURES KEY BENEFITS
Ingestible tablet to monitor impact of medications on patients
Short Description
30
Elderly assistance
OVERVIEW
Partnered with the AIA accelerator program , Simple Wearables is a new tech startup based in Hong Kong making wearable
devices that provide peace of mind for the aging population and their loved ones
Via its wearable product SimpleWave, users can be easily located and detected if they accidentally fall down. The system will
automatically alert families, call an ambulance if needed and track on-going status
Instant response to emergency
Real time monitoring of care coordination
Remote Monitoring and Emergency Response: It
automatically detects a fall and makes a call to a designated
number when that occurs. It can also be pressed like an SOS
button if the user needs help
Simple wearables: Easy for the elderly to carry and support
the locator services
Daily Analysis: Analyzes changes in daily patterns to predict
a fall and will vibrate to alert users to modify behaviors
Revenue Model: Currently through sales of devices and
monthly subscription service for families and hospitals. In
the future, company will provide big data analytics for
insurance providers and healthcare institutions
XX
Wearable Technology
Connected Health
Category
2013
Launch
Elderly
Target Customer
Hong Kong
Location
Predictive fall detector
Product
KEY FEATURES KEY BENEFITS
Mobile caring system for instant alerts and status updates
Short Description
31
OVERVIEW
Z-works is a startup focused on creating devices that can monitor and advise elders’ health conditions via its IoT ecosystem
With a combination of sensors and a corresponding mobile app, integrated with its Z-works cloud platform, Z-works hopes to
ease the burden on the healthcare system and on carers of caring aging people.
Reduction of cost of elderly caring
Effective health monitoring and consulting services
Integrated Device-Cloud System: Enables fast deployment
of customized IoT system, working closely with low-cost
device vendors
Customized App: The LiveConnect Apps can be customized
to accommodate different needs at care facilities, assisted
living communities, and home care users
Consulting Services: Z-works offers consulting services for
IoT data analysis and deep learning solutions to further
enhance customers' solutions
Revenue Model: : Currently through sales of devices. This
newly-established company is also expanding its influences
by “LiveConnect” crowdfunding projects
XX
Mobile Health
Connected Health
Category
2015
Launch
The Elderly
Target Customer
Japan
Location
IoT sensors suite and corresponding real-time app
Product
KEY FEATURES KEY BENEFITS
Smartcare solution to Monitor health at home
Short Description
Elderly assistance
32
OVERVIEW
FinlTop Biology (Beijing) produces smaller versions of large diagnostic machines that patients can use in their home
With its flagship product - a smart-phone sized electrocardiogram device - users can hold the device and press their thumbs into
two metal sensors that then detect their heartbeats. The corresponding app records the data and users can privately review the
information or forward it to their doctors
Reduction in cost of medical check-up
Real-time health monitoring and analysis
Integrated Health-Care System: A real-time readout appears
in the device and the results are sent to the user’s
smartphone, which can in turn be sent to his or her doctor.
Simple and Affordable: The small electrocardiogram device
is smart-phone size and costs about RMB 300 (US$50).
Smart Analysis: FinlTop’s app analyzes the results and tells
users, in the simplest terms possible, whether they are
healthy or if there is a problem.
Revenue Model: : Currently the company partners with
more than 100 companies, which represent over 1 million
patients. It received an RMB 10 million (US$1.61 million)
seed investment from Yicheng Electronic Technology.
XX
Mobile Health
Connected Health
Category
2013
Launch
Middle class aging population
Target Customer
China
Location
Handheld electrocardiogram deviceWireless glucose meter Pulse oximeterBlood pressure monitor
Product
KEY FEATURES KEY BENEFITS
Real-time app and the handheld device
Short Description
Home clinic
33
Case study: wearable devices used by Health Insurers
Health Insurers Case Study
34
New recurrent products and services with wearable devicesCase 1: Cigna uses wearable technology as a sales and retention tool especially for elderly population
KEY FEATURES
OVERVIEW
Cigna HealthSpring offers multiple products utilizing the wearable technology:
- Cigna-owned health plan serving the aged population. The benefit of the plan is delivered via the Silver&Fit Exercise and
Healthy Aging program, a product of health service organization American Specialty Health (ASH)
- Remote care management with Intel-GE Care Innovations to engage with patients diagnosed with congestive heart failure and
provide blood pressure cuff, scale and interactive tablet to track their daily biometrics and complete Congestive Heart Failure
(CHF) educational program
Reductions in the need for hospitalization by early
detection of problems and involving the doctor
immediately avoiding unnecessary hospital visits, thus
reducing costs
Cigna-owned health plan serving the aged population
Wide options with no additional cost: Access to fitness
facility at no cost (from more than 11,000 fitness facilities)
Easy tracking : Platform tracks exercise at a facility or
through a wearable fitness device or app
Higher incentives: Reward customers when they wear
personal activity trackers, such as pedometers and apps
Quicker access : Automatic tracking & download of the
activity data to the customer’s personal web page at
SilverandFit.com
Remote care management with Intel-GE Care Innovations
Easy and direct access to a Cigna-HealthSpring nurse
practitioner
XX
Insurance,
Wearable Technology
Category
2014
Launch
Eldly Population
Target Customer
US
Location
Cigna-HealthSpring health plan
Remote care management
Product
KEY BENEFITS
1
2
35
New recurrent products and services with wearable devicesCase 2: United Healthcare launched connected wellness platform to reduce health insurance costs by employees
OVERVIEW
UnitedHealthcare Motion, a collaborative platform with Qualcomm, brings together wearable technology, telemedicine and
wellness incentives to empower employees to manage their health and manage costs effectively
It includes a special activity tracker device, mobile sync app, and online account to help users achieve daily goals
Companies with fully insured health plans and between 100 - 300 employees can subscribe to it
Cost Savings :
- Employees can save up to US $1,460 per year based
on their usage
- Employers can also obtain premium savings based
on the combined results of their program
participants
Wide Coverage: Employees and their covered spouses can
track the number of steps throughout the day with custom-
designed wearable devices
Direct link to financial benefits: Employees receive money
by using these wearable devices and earn amount in their
Health Reimbursement Account credits. The amount is
calculated based on the total number, frequency and
intensity of the steps taken.
Secure: Uses secure platform of Qualcomm Life’s 2net
No additional charge as the cost of the device is built into
the premium paid by the employer
XX
Employee Benefits
Wearable Technology
Category
2016
Launch
Working population, Employees
Target Customer
US
Location
United Healthcare motion
Product
Data from the device is synced with the UnitedHealthcare Motion app via Qualcomm Life’s 2net Mobile connectivity platform
Wear Trio-activity tracker everyday
Walk daily to achieve goals
(Frequency, Intensity & Tenacity tracked)
How it works?
KEY FEATURES KEY BENEFITS
36
New recurrent products and services with wearable devicesCase 3: Humana Vitality – A completely new entity set up for wellness strategizing on wearable technology
OVERVIEW
Humana Vitality is Humana’s platform for motivating and rewarding the members to engage in healthy activities
Encourages members with rewards to participate in over 30 activities, including fitness activities such as taking 10,000 steps per
day, with a max annual payout of $240
HumanaVitality has been offered to nearly four million members & its members have ordered more than 250,000 devices
through its rewards program
Participants of HumanaVitality who remained engaged
for 3 years showed an 18 percent increase in healthcare
savings and reduction in sick absencce by 44 percent
Lower premiums: The savings are shared back with
members in the form of rewards resulting in reduced
healthcare premiums
Verified Activities: Ability to seamlessly track member
activity in a verified way, one of the foundations of
HumanaVitality program to reward members
Wide Coverage: Program uses 70 devices, including well-
known brands such as Fitbit, Apple Health, Garmin, Polar and
Jawbone
Current Uses: Uses wearable technology to track steps,
heart rate, calories burned and sleep to gain more insight
into how people lead their lives
Integration of health trackers as a key part of their future
strategy: Humana insurance provider rolled out fitness
device activity tracking to switch from app based model to
direct sync model
XX
Insurance,
Wearable Technology
Category
2016
Launch
Individuals, families, Kids
Target Customer
US
Location
HumanaVitality – Medical, dental
& vision Plans
Humana Pharmacy
Product
KEY FEATURES KEY BENEFITS
37
New recurrent products and services with wearable devicesCase 4: Oscar Health provides connected devices as part of its customer acquisition strategy
OVERVIEW
Teamed up with Misfit to provide free Misfit fitness trackers (which retail for $50) to all its members in an attempt to bring
down employee healthcare costs by encouraging higher activity levels
The app presents users with a daily step goal based on their history of physical activity
Partnered with Amazon to provide gift cards in exchange for meeting health goals
Among the first insurers to incorporate data from
wearables for its underwriting
Connecting tracking tech to a physician: In-house team of
doctors and nurses to get the biometrics data for
monitoring of the health
Gift based Rewards:. Members who reach the day’s goal get
a $1 credit; after the account reaches $20, they can redeem
the credit for an Amazon gift card
Higher user experience: Using Misfit device, data gets
uploaded to the customers profile showing the medical
timelines on Oscar’s mobile app. Facebook-style timeline of
the interactions with doctors, pharmacists, hospitals
Cash for health programs: Members can earn upto US$240
per year by enrolling in the fitness programs
Links customer biometric information straight to their health
insurance acccount
XX
Insurance
Wearable Technology
Category
2014
Launch
Employees, Youth
Target Customer
US
Location
Oscar - Misfit Tracker
Product
KEY FEATURES KEY BENEFITS
38
New recurrent products and services with wearable devicesCase 5: AXA provides a new offering of insurance to encourage consumers to share data for better underwriting
OVERVIEW
Health Keeper by AXA - App and web supported healthcare ecosystem enabling users to keep track of all their activities
AXA encourages individuals to share their personal data - one of the earliest examples of consumers volunteering to share
personal data via a connected device
Health Keeper team is able to connect data from over 140 devices on Fitness, Routine, Nutrition, Sleep, Weight, Biometrics, etc.
For AXA, the major objective is to access potentially
valuable customer data for underwriting purposes in the
future
For customers, it helps to provide cheaper access to a
wide range of services
Customized offering: Customers can set exercise KPIs and
goals and receive tailored content on their indicated health
interest. A global monitoring dashboard of the user’s
exercise activity is displayed on the Health Keeper platform
Incentives to share personal data:
- Gift certificates to get customer consent to share their
personal data with AXA Health France
- By sharing their activity, users earn Fitpoints for health or
wellness services, either for or on a ‘pay per use’ basis, with
a discount based on the user’s level of activity
Cheaper access to medical Services, approx. 10.000 doctors,
wellness services, currently 70 products, 24/7 Medical
Helpline, health / well-being content , purchasing
options with special rates
XX
Insurance
Wearable Technology
Category
2014
Launch
Young Population
Target Customer
France
Location
Health Keeper by AXA
Product
KEY FEATURES KEY BENEFITS
39
New recurrent products and services with wearable devicesCase 6: Medibank incentivizes customers to engage in healthy lifestyle and share their data from wearable devices
OVERVIEW
Australia’s largest insurer Medibank teamed up with flybuys to link customer data from a range of wearable fitness trackers to
their Medibank account, scoring 10 Flybuys points every day they reach a goal of 10,000 steps
Members can add Fitbit, Garmin, Jawbone or Polar wireless activity tracking device to their accounts, thus linking the fitness
data to their health policy
Customer data is used for a more customised profiling of
risk and risk assessment as well as premium calculation
Incentive for sign-up: Provides a free Fitbit Flex Wireless
Activity Tracker for sign-up of an account with MediBank
Incentive to choose healthy options: When Medibank
members link their flybuys membership, they collect triple
points each time they buy fresh fruit and veg and frozen veg
at Coles
Example: Medibank members may earn one flybuys point
per $2 paid on their Medibank premiums, and triple points
for every dollar spent on fruit and vegetable purchases in
Coles stores across the country.
XX
Insurance
Wearable Technology
Category
2015
Launch
General
Target Customer
Australia
Location
Medibank Flybuys
Product
KEY FEATURES KEY BENEFITS
40
New recurrent products and services with wearable devicesCase 7: Singaporean wearable startup develops T.Jacket to help people suffering from sensory ailments
OVERVIEW
A wearable touch technology vest provides deep touch pressure to wearers – T.Jacket simulates the feeling of a hug with
laterally applied air pressure to calm, comfort and soothe the nerves of anyone who is stressed or anxious
T.Jacket could be easily controlled by a smartphone app
T.Jacket can also help people with sensory modulation difficulties who are sensory seeking and/or sensory over-responsive
It helps people recover from mental disorders like sensory
processing difficulties (SPD), autism spectrum disorder
(ASD), attention deficit hyperactivity disorder (ADHD),
Alzheimer’s dementia and post-traumatic stress disorder
(PTSD)
High portability: T.Jacket is a hoodie vest for everyday use
and controlled by an app via smartphone/tablet to get
customizable, portable deep touch pressure on the go
Light and convenient: Uses an automatic air-pump system
(an alternative to the heavy weighted-vest), to be used both
at home and outside
Continuous tracking: Built in sensors measure and
automatically record user activity levels (seated, walking,
jumping, running). Tjacket app automatically stores and
uploads the information onto the cloud system for easy
access
Choice of pressure programs prevents the wearer's body
from becoming habituated to the pressure, to enable longer
periods of attentiveness to be achieved
XX
Insurance
Wearable Technology
Category
2014
Launch
People with special needs
Target Customer
France
Location
T.Jacket
Product
KEY FEATURES KEY BENEFITS
41
New recurrent products and services with wearable devicesCase 8: Connectedhealth Singapore delivers remote monitoring solutions to the major health care providers
OVERVIEW
Connectedhealth provides remote health monitoring solutions to allow healthcare, nursing and fitness providers to reduce cost
and increase productivity. It facilitates end-to-end connectivity between medical devices and electronic medical records
The platform connects scales, thermometers, fitness trackers, glucose meters, pulse oximeter, spirometers, pedometers, pill
dispensers and blood pressure monitors to upload the patient data to Connectedhealth cloud which further transmits the
patient data seamlessly to the hospitals and doctors
Reduction of costs of outpatient cares
Real time prioritized access to all patient measurements
Remote Health monitoring and dashboard: Provides secure,
seamless measurement transfer between medical devices
and electronic medical records.
Nursing manager application transfers health care
measurements from patients to remote care provider.
Portable tablet provides nursing access to patient records.
Data Privacy: Continua compliance ensures patient privacy
regulatory requirements are met. Nurse access is secured via
three-layer authentication. Patients are authenticated with
their fingerprints. Measurements taken are stored in
authenticated patient's records.
Revenue Model: Provides platform services on a per patient
basis by integrating with the hospitals, healthcare analytics
& call center
XX
Wearable Technology, connected health
Category
2010
Launch
General
Target Customer
Singapore
Location
E-health platform
Fitness monitoring platform
Nursing Manager Application
Diabetes Management
Product
KEY FEATURES KEY BENEFITS
42
Contact US
Should you have any inquiries regarding this topic, please contact us:
AsiaCharles DALLY: [email protected] +852 3904 3030Joann MA: [email protected] + 852 3904 3030
North AmericaPatrick BUCQUET: [email protected] +1 212 453 6713Tim JAEKLE: [email protected] +1 646 592 5331
EuropeLaurent HEMERY: [email protected] +33 1 75 77 27 80Florian HEMERY: [email protected] +33 1 75 77 27 80
