Wearable devices: The promise and the reality for insurance

There has been a lot of interest in the development of wearable health technology, and rightly so. It is a rapidly evolving market, with potential for a large and positive impact on life.

The most common example is a Fitbit. But there are many brands of devices, plus apps on phone, or smartwatch that track certain health metrics. These started by tracking just steps, but then they grew – many track heart rate and sleep as well. The companion apps that are installed on smartphones typically allow for other data to be added.

Connected wi-fi scales allow the easy, regular addition of weight and body composition tests. Combining the data yields other insights – an overall estimate of heart health is possible.

There some exciting new products heading for the market as well. A smart mirror is being developed that analyses your body shape and provides more health insights. A device you breath into helps with analysis of diet. There will be more, and they will get better and better. Accuracy will improve, and the hassle factor of charging yet more small gizmos will diminish as battery life and new charging methods emerge.