Insurers now can benefit with personalised analytics, using wearable technologies, so their customers will benefit and control the policies and create higher wellness scores, claims Intel Inc. we are facing the situation where win both customer and insurer. Customer using wearable technology can benefit with better public health, and insurer benefits revenue growth, improved metrics and customer loyalty.
Innovative wearable devices can bring insurers better brand recognition and bring trust of their customers. Wearable devices can easily improve health of customers with unhealthy habits. Wearables will aggregate biometric, demographic data, bringing positive lifestyle for users of wearables devices, improved underwriting process and claims management, active lifestyle recommendation. Insurers can now easily use data delivered from wearables, analysing it with specialised analytics platforms, based on NoSQL, Hadoop. 68% of insured customers would anonymously transfer their data in exchange of breaks.
To help insurers keep their customers personal data safe while using wearables, Intel developed health analytics platform, called Covalence. Everything insurers need is:
- to store large data amount, allowing to access it, use and analyse, using Hadoop, NoSQL and other platforms;
- analytical platform capable to analyse large amount of real-time data;
- industry experts.
How does it work. The Big Cloud Analytics Company offers a SaaS platform delivering real-time behaviour indicators, using Covalence model approach. The Covalence Health Analytics Platform delivers:
- advanced health real-time analytics;
- profile information, like age, habits, martial status;
- collection of great amount of biometric data from wearables devices;
- possibility to set up alerts for various users conditions;
- possibility to engage with users of wearables via personalized messaging, guiding their behaviour;
- multi-device and multi-user operation capability.
Collecting, management and analysis of data is all provided by Intel and Big Cloud Analytics solution. More detailed about Covalence Health Analytics Platform, it’s capabilities and benefits for users read here.