WEARABLE

TECHNOLOGY
In the Life and Health Insurance Industry
Imperial College
Business School
27.07.2014
Maximillian Doelle
Michelle Gunawan
Opeoluwa Adeyemo
Yizhi Wu
Yang Gao
Orkhan Ahmadov
Martin Knutli
2
Table of Contents

5 Background
6 The New Business Model
7 Proposed Target Market
8 Study
8 Survey and Results
8 Pilot Study
9 Cost
9 Other Tests
10 Recommendations and Next
Steps
10 Further Development of the
Policy
10 Recommendations
11 References
BACKGROUND
NEW BUSINESS MODEL
STUDY
RECOMMENDATIONS
REFERENCES
5 Executive Summary
EXECUTIVE SUMMARY
3
EXECUTIVE SUMMARY
T
HE Life and Health insurance market in
the UK has seen little innovation in the
past years and is considered to be ripe
for disruption (blog.hbs.com 2014). One
of the factors contributing to the disruptive
potential is the continuous dissimilation of
traditional markets with recent examples such
as Uber and Nutmeg. This is largely driven
by the empowerment of consumers through
technology in which a rise in self assessment
technology (e.g. activity trackers) for the
average consumer is observed.
The scope of the project is limited to health and
life insurance market in the United Kingdom.
The focus has been on two areas: First, the
potential of wearable technology in the Life
and Health insurance market and secondly, the
consumers willingness to pay for data insights.
A business model was proposed, where the
target market are young, active, digital natives.
The more active you are, the better will the
terms of your insurance be. By voluntarily
monitoring and reporting your activity, through
an activity tracker such as the Misft Shine ,
the insurer can obtain a real time overview
of your health. Not only does this insurance
model reduce the general risk of the insurance
company, but it also reduces the insurance
holders premium, as well as incentivising
healthy living among its holders.
To address the uncertainty around wearable
technology, a survey was conducted to
gauge the consumers view on the proposed
business model. The results generally support
the idea of developing a scheme where
wearable technology is involved. It also
brought forward a few issues necessary to
resolve before the business model can be
rolled out. In order to assess the potential of
wearable technology in the insurance market,
a study has been designed that allows to
test the main hypothesis which need to be
validated or refuted in order to build the
foundation for a successful business model.
The hypotheses include amongst others:
What are the efects and impacts of monetary
and/or social incentives on the activity level
of consumers? How do consumers perceive
wearable technology? Where is the incentive
indiference point for consumers to participate
in the proposed scheme? Through use of
rigorous statistical techniques, like causation
analysis, correlation analysis and regression,
high value results can be generated.
With the results of the study, it is possible
to craft a sustainable business model taking
advantage of the unique potential of the
technology. We estimate the cost to be around
150.000 - 175.000 with contingencies.
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BACKGROUND
In the present consumer electronics market, wearable technologies have evolved through various
sensors that can trace and monitor physical and bodily conditions, including pedometer, accelerometer,
gyroscope, heart rate sensor, altimeter, thermal meters, etc (Euromonitor International, 2013). In result,
diferent activity trackers have been created with a number of tracking functions, i.e. steps taken, calories
burned, sleeping time and quality, stress level, heart rate and so on.
In the insurance industry, data and technology can lead to products being priced more accurately
through observing and analysing data from wearables to assess insurance risk factors. Through this, it
can be sold in a more individual manner, thereby enhancing customer experience (Callaway and Rozar,
2013). Wearable technology has been used in group insurance schemes which turned to be benefcial for
the company as well as its employees. For example, BP America in partnership with StayWell distributed
24,000 FitBits across the company. The FitBit tracks steps covered against a set target which has helped
BP to achieve lower health care premiums, thus bringing down BP Americas health care spending by
3.5% and an ROI of $3:1 (StayWell, 2014).
Further, US-based Vitality Group created The Vitality Programme to optimize health insurance plans
by encouraging healthier lifestyles. Vitality members are allowed to choose from a variety of activity
trackers which link to Vitality Active app. Members earn Vitality points for walking, burning calories and
maintaining a heart rate within a specifc range; the more points earned, the more rewards (PruHealth,
2014) are received. Based on the data released in April 2014 of a three-year study of 740,000 users of the
programme, revealed that activity tracker users reduced health risk factors by 22% and had 16% lower
hospital costs than those of inactive people (The Vitality Group, 2014).
Given recent data by Competition and Markets Authority (2014), out of the 11% of UK population
who own private medical insurance, 78% of these were company sponsored. This trend corroborates
the approach to target group purchases and/or employer-sponsored insurance to drive uptake for
commercial viability of wearables in the early period and subsequently, individuals.
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THE NEW BUSINESS MODEL
As technology is being vastly adopted in our daily lives, a new breed of customers is slowly emerging
called the digital natives (PwC, 2013). According to PwC, these customers will push businesses to add
value through digital channels through improving customers e-commerce experience and utilizing big
data for a more complex but accurate digital identity of customers. Particularly for insurance companies,
there is an opportunity to be closer to customers by creating more consumer-centric products and
policies. Customers buying experience can be tailored individually through providing customised
solutions. This trend will allow insurance companies to serve markets that generally have received less
focus; that is the younger and less wealthy people (PwC, 2013).
In response, the following insurance policy elaborated was designed. Not only does it use wearable
technologies such as Nike+ band, Jawbone or Misft Shine, but it also encourage holders to lead a
healthy life. The policy allows holders to have more control over their premium by meeting health goals
to accumulate points. These points will over time generate personal returns, such as reductions in the
insurance premium. Furthermore, consumers will be able to customize a policy based on their needs as
well as get an immediate quote for premium.
The insurance holder will be able to choose between various combinations of cover and the term of the
insurance: life cover, serious illness cover, income protection cover or additional covers like family income
cover, education cover or disability cover. This determines their initial premium.
Initially, insurance holders will beneft from lower than standard premiums in order to attract people to
apply for the scheme. The program will allow the holder access to a mobile and online platform that will
keep track of their health as well as provide termly health reports.
There are 4 membership tiers available:
Bronze: premium goes up by 2% per year
Silver: premium goes up by 1% per year
Gold: premium stays constant
Platinum: premium goes down by 1% per year
The fgures above are taken from a benchmark insurance policy program by Prudential called PruProtect
Vitality. However, design of the membership tiers, such as the monetary benefts and the number of
membership tiers, can be tailored by each insurance company.
Everyone will start with the bronze tier and they will be able to collect health points by:
Conducting medical check-ups,
Taking vaccines,
Activity tracker-points and achieving activity goals,
Declaring mental well-being and non-smoking agreement,
Reporting blood pressure, cholesterol level, BMI, blood sugar level.
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Total points accumulated will be assessed per annum; however, holders can update their medical and
activity status at their own time during the year. Based on the total points, the holder will be assigned to
a tier. An example of the point accumulation scheme can be found in Appendix 1. The fnal design of the
policy itself should be based on the data obtained from the studies.
For further development of the policy, several issues were found that should be taken into account, such
as cheating, privacy, and possibility of renewals, which will be discussed in details in Appendix 2.
3.1. PROPOSED TARGET MARKET
The insurance should be mainly focused towards people with the following characteristics:
Age 18-55 years: this will allow higher degrees of retention on the policies so that they will be more
inclined to continue to other policies when they are older due to trust and relationship. Furthermore,
a study on sports and physical activities found that the frequency of exercise/sport declines with age
(European Commission, 2014).
Active or wanting to become active: the whole policy revolves around being healthy and active, thus
active people would be targeted.
Educated or young professionals: a study states that there is a link between education and frequency
of exercise, in which the earlier people leave school, the less is frequency of exercise (European
Commission, 2014).
Value conscious: other than active people, people who are conscious about their insurance premium
and the benefts that they actually need.
Health conscious: being healthy means not only to be active - it also means to eat healthy. Targeting
people who care about healthy foods could be a relevant market.
Open to technology: early adopters of technology and current owners of wearables will be a good
target because they might be more inclined to share their data.
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STUDY
In order to understand the impact of the new insurance policy towards customer attitude as well as to
confrm the willingness to pay for the policy, a study is proposed to be conducted by Cognizant with the
following objectives:
Confrm consumer market for the new insurance model
Identify incentives to participate in the new insurance model
Monetary
Health
The study will be conducted in two parts. The frst is a preliminary survey to gauge the publics
perception of wearable technology in the insurance market. The second part is the pilot project which
will mainly focus on monetary and social impact on a persons activity level, which will eventually help to
confrm the benefts of the wearable technology in insurance policy.
SURVEY AND RESULTS
The survey acts both as a substantiator of the hypotheses put forward and as a test of the attitude
towards the proposed business model. Among the results found are that price, cover and insurance
company reputation are the most important factors in choosing insurance; 63% were interested in our
proposed insurance because it encouraged a healthy lifestyle through monetary incentives and it also
gave the individual more control over the insurance. It also revealed some worries with the proposed
insurance plan (among 37%), like privacy concerns, lack of necessity due to NHS system, scepticism of the
potential commercial exploitation, dissatisfaction with having to be constantly conscious of your body
and that health is more than just activity levels. Detailed results can be found in Appendix 3.
PILOT STUDY
The main purpose of the overall project has been the design of a pilot study. The pilot will test three
hypotheses:
1. Wearable technology afects the activity level of a person,
2. There is a peer (social) efect on activity level,
3. Monetary incentives will afect a persons activity level.
A full description and design of each hypothesis can be found in the table below. These hypotheses will
be tested using correlation analysis, regression and causation analysis . This is done by creating several
focus groups, each with their own characteristics.
1. Control group (neither activity tracker nor insurance)
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2. Basic group (only activity tracker)
3. Monetary group (will be given various monetary incentives by reaching certain daily goals)
4. Social group (the activity tracker will be connected to a social platform, and users will compete
against peers, to see if the infuence from his/her peers motivates the user to increase activity levels)
5. Social and monetary incentives group.
For the monetary incentives, the trial will be run with several groups who receive diferent types and
diferent levels of monetary benefts. Some may receive vouchers for a gym membership while others
may be incentivised by a decreased monthly life insurance premium. Each of these groups will be
compared to a reference group, who receives the same kind of external infuence as the other groups.
For the social factor, one would have to compare the social group to both the control group and the
basic group to determine whether or not social factors have any efects on activity levels across diferent
age groups. By collecting data and analysing correlations between social alerts/performance of peers
and a users activity level after the notifcations, one can determine indicators of the strength of social
incentives.
4.3. COST
The cost of such a project would be in the range of 152.500 - 175.000. This is based on a combination
of activity tracker costs and project stafng costs. Details are found in appendix 4.
4.4. OTHER TESTS
In addition to testing the aforementioned hypotheses, two additional tests can be conducted, looking at
behavioural factors for people in similar insurances, as well as the issues concerning insurance renewal
incentives.
To test for renewals, it is important to identify three sets of characteristics from three groups. The frst
group is active people with activity trackers. The second group is people who get monetary benefts
from being active while the third group consists of people currently using similar insurances, such as
PruProtect Vitality or AIA Vitality. Characteristics noted could be age, gender, income, job, marital status,
etc. Once identifed, the characteristics of frst and second group should be compared and contrasted to
the third group to be able to roughly identify the characteristics of people who are more likely to renew
the policy and hence clarify the target market.
In order to better understand the behaviour of holders and incentives for buying the policy, a focus
group study of 5-10 people can be created with holders who have signed up for similar policies from
other insurance companies. In the focus groups, the aim is to understand why a policy is purchased,
how people react to the diferent ways of collecting points, as well as motivations to participate and the
satisfaction with the policy.
NULL HYPOTHESIS EXPERIMENT DESIGN CHARACTERISTICS OF SAMPLE
INITIAL DATA RECORDED (BEFORE
STUDY)
VARIABLES/RESULTS DATA
OBTAINED
WEARABLE TECHNOLOGY
WILL HAVE NO EFFECT ON THE
ACTIVITY LEVEL OF A PERSON
Time frame: 2 months
Number of groups: 2

Each person in both groups will be
given activity tracker, however one
group will have monetary incentive if
they hit their goals.

Monetary incentives can be designed
in two ways:
Positive incentives: If they
reach activity goal, then there will be
reward
Negative incentives: If they
dont reach the goal for x times, then
they will be penalized
Size: 30 people per group

Samples should be matched pair for
better comparison between the two
groups. This means that the number
of men and women, age distribution
should also be the same.

In the monetary incentive group,
they should be divided into two
matched pair subgroup so that the
one subgroup can take the positive
incentive scheme and the other
subgroup can take the negative
incentive scheme.

Level of physical activity:
Daily steps,
Duration and frequency of
exercise,
Type of physical exercise,
as well as:
Hours of sleep,
BMI.
Repeat measure of the initial data
recorded, however data is taken
through the readings in the wearable.
Daily steps
Activity points and achievement
Hours of sleep
Type of physical exercise
As well as BMI.

Data should be recorded daily, thus
in total there will be 60 records per
sample with 60 samples.
THERE IS NO PEER EFFECT ON
ACTIVITY LEVEL
Time frame: 2 months
Number of groups: 3

Three groups based on age:
A. Young (18-35 years)
B. Old (36-55 years)
C. Mixed

Each person in each group will be
connected through social media with
others within the same group.

Daily social alerts will be sent to the
users smartphones of either:
Progress of peers
Reminders to exercise
Health tips
Reminders to wear the device
Data will be recorded on users
response to diferent alerts and
the impact of the alerts on activity
levels. Further, the frequency of
alerts would be varied each day to
understand how many alerts the
platform should send to holders.
Size: 100 people per group

Each group will have equal numbers
of male and female.

Activity level of each person in each
group should vary to enable to see
whether there is any peer efects of
an active person to the rest of the
groups. Distribution of activity level
per group should be similar to allow
matched pair.
Initial activity level:
Types of exercise
Frequency of exercise
Duration of exercise
Daily points accumulated

Activity level on the end of the
experiment:
Types of exercise
Frequency of exercise
Duration of exercise

Data should be recorded daily, thus
in total there will be 60 records per
sample with 300 samples
NULL HYPOTHESIS EXPERIMENT DESIGN CHARACTERISTICS OF SAMPLE
INITIAL DATA RECORDED (BEFORE
STUDY)
VARIABLES/RESULTS DATA
OBTAINED
THERE IS NO PEER EFFECT ON
ACTIVITY LEVEL
Test on peer efect combined with
monetary efect
Time frame: 2 months
Number of groups: 2
Two randomly selected groups will
be formed and each person will be
given an activity tracker which will be
connected to social medial.
One group (group B) will be given
monetary incentives and the other
one will be the reference group
(group A). The performance of the
two groups will be measured and
compared to fnd out the impact
of social and monetary incentives
together.
The important thing to measure
from this study are the percentage
of people motivated by the social
motivation and the percentage of
people motivated by monetary
incentives and also the relative
strength of the two factors.
Size of group: 30 people per group
The two groups will be a matched
pair, which means that the number
of men and women, age distribution
should also be the same.
Initial activity level:
Types of exercise
Frequency of exercise
Duration of exercise
Daily points accumulated

Activity level on the end of the
experiment:
Types of exercise
Frequency of exercise
Duration of exercise
Data should be recorded daily, thus
in total there will be 60 records per
sample with 60 samples.
At the end of the study, a survey will
be conducted to understand whether
the social or monetary incentives that
drives them to exercise.
MONETARY BENEFITS HAVE NO
EFFECT ON A PERSONS ACTIVITY
LEVEL
A survey will be conducted that
will ask respondents about their
reactions to diferent incentives
schemes that are intended to make
them active.
Respondents will be given activity
goals such as running a certain
distance, then they will be given
incentives such as coupons and
cashbacks at random and the
response to the willingness to reach
goals will be recorded.
Randomly selected sample of age 18
and above.
Age,
Initial activity level:
Types of exercise,
Frequency of exercise,
Duration of exercise,
Income level.
The willingness to reach activity
goals in terms of scale.
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RECOMMENDATIONS
5.1. FURTHER DEVELOPMENT OF THE POLICY
The insurance policy can be extended into a subscription to a health program. Features that can be
added to the program are subscription to health magazines, meal planner and recipe ideas, membership
to gym, online/QR promo codes for e.g. healthy restaurants, loyalty program to grocery stores, discounts
for medical checkups/rehabilitation, vaccines and sports equipment, ftness events or cycle hire. For
details about each of these features, see Appendix 5. These features can be ofered free or at a low
subscription costs. It should be able to be tailored by the insurance provider.
5.2. RECOMMENDATIONS
In order to provide quick, easy and secure access to insurance claims, an online and mobile platform can
be built. Holders can quickly fll in a claim forms through their phones which will be directly processed
to the insurance provider. Moreover, the platform could provide an automated transfer of health data to
increase sense of privacy. Insurance companies should be able to connect with partners such as hospitals
so that consumers health data could be transmitted quickly and accurately through the platform.
There are many developments in wearable technology that can also record various vital signs and
symptoms like cardiac, body posture, blood glucose, and blood pressure. Examples for these upcoming
devices are Nymi , BodyGuardian , BodyTel . These devices can help to even further build into real-time
risks of the policyholder in order to directly decrease, forecast and prevent the number of insurance
claims, in line with attracting new customers.
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REFERENCES
Callaway, J. and Rozar, T. (2013). Disruptive Advances in Medical Technology: Risks and Opportunities
for the Insurance Industry. Reinsurance Group of America Global Research and Development Research
Bulletin

Competition and Markets Authority (2014) Private Healthcare Market Investigation Final Report, 2 April
2014 [online] Queens Printer and Controller of HMSO 2014. Available from <https://assets.digital.cabinet-
ofce.gov.uk/media/533af065e5274a5660000023/Private_healthcare_main_report.pdf> [15 July 2014]
Euromonitor International (2013) The Future of Wearable Electronics: Forecasts, Segmentation and
Applications.

European Commission (2014) Sport and Physical Activity Report [online] available from <http://
ec.europa.eu/public_opinion/archives/ebs/ebs_412_en.pdf> [25 July 2014]

PruHealth (2014) Vitality Activity Tracking [online] available from
<http://www.pruhealth.co.uk/vitality/partners/vitality-activity-tracking/> [22 July 2014]
PwC (2013) Insurance 2020: Forcing the Pace-The Fast Way to Becoming a Digital Front Runner Report
[online] available from
<http://www.pwc.com/im/en/industries/life-insurance/assets/pwc_digital_life_insurer_2020-280414.
pdf> [12 June 2014]

Ries, J. (2014). Digital innovation in the Health Insurance Market. 17 February 2014. Harvard Business
School Blog. [online] available from <http://blog.hbs.edu/dighbs/digital-innovation-in-the-health-
insurance-market/> [27 July 2014]
Staywell Health Management (2014) Energy Comoany generates better health for Employees [online]
available from
<http://staywell.com/wp-content/uploads/2014/01/StayWell-BP-CaseStudy_Jan2014.pdf> [20 July 2014]
The Vitality Group (2014) Fitness Devices Impacting Employee Health According to Vitality Stud [online]
available from
<http://www.thevitalitygroup.com/wp-content/uploads/2014/04/TVG-wearables-news-release-FINAL.
pdf> [22 July 2014]
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APPENDIX
APPENDIX 1
14
ISSUES SOLUTIONS
PEOPLE MAY NOT UPDATE THEIR DATA
Due to the independence and control being passed on to
insurance holder, the consumers will have to conduct and update
medical check-ups at their own time. They may either forget
and not motivated to update their personal data since they are
already paying for a cheaper insurance anyway.
The insurance policy is designed that everyone starts at the
bronze tier so the premium will go up frst before it can be
reduced, hence creating an incentive for holders to update
their data and accumulate points through medical check-ups.
Moreover, the platform made should be automated and user
friendly as well as available for easy access to holders for added
transparency.
CHEATING WITH USAGE OR FAKE MEDICAL DATA
Since a lot of the wearable technology are made out of
accelerator chip, it can be quite easy to cheat by giving it to
others to use, or just moving it to record steps taken. Moreover, if
holders can update medical data on their own they could present
fake results.
To tackle the fake medical data issue, there should be a platform
that connects the insurance company and the medical check-ups
providers so that data can be automatically transmitted, thus
reducing the possibility to tamper with the results.
The policy is not based solely on the results as recorded by the
wearable technology, but also other medical data. Hence, doesnt
mean that if the person cheated, then the medical results will
show improvements.
Further development of cybersecurity and reduced costs of
technology gives chance to avoid inaccurate or fake results.
Technology using cardiac rhythm helps authenticate your identity
helps avoid use of particular device by others.
ABILITY TO UPDATE DATA NON-AUTOMATICALLY
There may be some occasions where holders may go to do an
exercise but then forgot to wear the activity tracker or that the
holder may take medical tests elsewhere not with the connected
medical check-up provider.
Reminders should be sent to users on wearing the wearable. The
reminders could not be directly saying that theyve not been
wearing it but it could be a health tips such as Running up and
down the stairs for 10 minutes can burn x amount of calories.
This is a feature that none of the wearable device currently ofer,
thus should be added to the platform.
The platform can provide a way to be able to update data non-
automatically, however at a cost. For example, holders can update
activity and medical data by himself only 3 times during a year
but it only allows e.g. half of the points to be accumulated.
PRIVACY REASONS
The wearable technology has to be worn all times and will
constantly update the holders profle. While this will be
compensated through the reduction in premium, some people
may feel that they are being monitored all the time. Furthermore,
the extent to which each person are willing to share the medical
data, i.e. some person may think sharing blood sugar level is fne
but to others is more private.
Furthermore, customers may be more willing to share with the
wearable technology companies than insurance companies as
they will feel that the insurance company will manipulate and
beneft from the medical data.
The security of the platform is very essential in the
implementation of this model. The data should not be available
to anyone in the insurance company without any permission and
that all the profle and premium should be automated to ensure
that privacy is kept just to holder.
Moreover, the points system allows holders to have control over
which medical data they want to share at the price of having a
lower premium. In this manner, holders actually can make their
own decision whether to share or not.
APPENDIX 2
15
BUYING THE INSURANCE ONLINE MAY REDUCE
PERSONALIZED EXPERIENCE TO CUSTOMERS
Traditionally insurance is sold through agency and the
agents will meet up with you and discuss about the
policy in person. However, the new policy will be sold
mainly through online in which all the information will be
available online.
While online selling will be the main channel for sales but the policy
can also be an additional to an existing policy that are sold through
agents. The website should provide 24/7 support through either live
chat or hotline so that customers will still be able to interact with
the insurance company.
RENEWALS OF INSURANCE POLICY
One issue that interests insurance company is that how
to keep the customers in the policy, i.e. how to create an
incentives scheme to keep customers.
There are also concerns on how much medical data
should be made available to holders, so that they
wouldnt just take the medical data and apply for cheaper
insurance in another company.
Since the policy is relatively new it is going to be hard to identify
persistence, hence we proposed a test in Section 4.4.
Further, renewals of the policy depends on the efect of incentives
to individual holders. Therefore, renewals will be highly dependent
on the monetary incentives given and marketing promotions on top
of the program (events, discounts/cashbacks) as well as the quality
of the health program ofered by the policy.
To keep consumers from diverting to diferent policies with
the given medical data, the medical data should be presented
in a unique and graphical way instead of being presented as a
traditional medical record.
COMPETE WITH GOVERNMENT HEALTH CARE
PROVISION
In countries where healthcare is freely provided by the
government, for example UK, private health care will need
to diferentiate itself so that it can attract customers
Defning a proper target market will be important to the insurance
policy. The target market would be defned through the results to
the studies.
Other markets that can be targeted is by providing group insurance
to companies to insure its employees.
SELF SELECTION
The insurance policy can encourage self selection, such
that only the active individuals will be more inclined to
buy the policy. Self selection may not be desired by the
insurance company since it will not create diversifcation
to spread risks.
The policy will ofer lower premiums than normal insurance to
attract not just the active individuals but also the value conscious
customers.
16
SALARIES
A certain number of people need to run this project. Using an average daily project wage of one
project manager (650), one junior project manager (350) and fve support staf (250) and a span
of two and a half months the results are as follows (assuming weekends are work-free days):
DEVICE UNIT PRICE TOTAL PRICE
Misft Shine $100 / 80 $50.000 / 40.000
Basis Carbon Steel $150 / 88(not available in UK) $75.000 / 44.000
Fitbit One/Flex $140 / 80 $70.000 / 40.000
Jawbone UP24 $150 / 125 $75.000 / 62.500
Withings Pulse $120 / 80 $60.000 / 40.000
WORKER DAILY WAGE DAYS COST
Project manager 650 50 32.500
Junior project manager 350 50 17.500
Support staf x 5 250 50 62.500
TOTAL COST 112.500
APPENDIX 3
17
FEATURES DETAILS
Subscription to health magazine
Holders can get access to partner health magazines that can
be accessed through the online platform (mobile apps and
Meal planner and recipe ideas
One of the fndings is that healthy lifestyle isnt only just about
being active, but its also about eating healthy. A meal planner
can be added to the platform where holders can have access to
recipes and build a shopping list.
Membership to partner gym
To promote active lifestyle, the policy can include gym
membership with partner gym. Membership fee can be
ofered at discount rate or for free depending on the insurance
company policy. A gym membership fee discount can
potentially be added depending on the points earned by the
user. Further, members could also earn points when he/she
join a certain class in the gym.
Online/QR promo code
The policy could include ofers to healthy restaurants or juice
bars or other relevant companies that promotes healthy living
through discounts and cashbacks that can be accessed from
the apps in the form of QR code.
Loyalty program to grocery stores
The loyalty program should not only include coupons and
cashbacks based on your past purchases but also assign points
if holders buy a certain array of healthy products which can
then be accumulated to the policy points
Discounts to medical check-ups and vaccines to partner
hospitals
As the policy assign points to medical check-ups and vaccines,
then it could also be benefcial to provide discounts in partner
hospital/healthcare provider.
Events
The program could also include organized ftness events such
as marathon, running club, etc. in which holders can earn
points through joining the events.
Sports equipment discounts
Providing discounts for sports clothing and equipment can
involve program participants in sport activities and attract
Cycle hire
The program could provide bike rental, which is becoming
ubiquitous. Providing higher discounts for frequent customers
should be rewarded to encourage continuous active
behaviour.
Bad habits treatment discounts Discounts for treatments of unhealthy habits.
APPENDIX 4
TECHFITTIES
Imperial College
Business School
27.07.2014
Maximillian Doelle
md4113@imperial.ac.uk
Michelle Gunawan
msg213@imperial.ac.uk
Opeoluwa Adeyemo
ooa112@imperial.ac.uk
Yizhi Wu
yw713@imperial.ac.uk
Yang Gao
yg2713@imperial.ac.uk
Orkhan Ahmadov
oa1313@imperial.ac.uk
Martin Knutli
mk713@imperial.ac.uk