LifeQuote is studying effective ways to capture health tracking data from various devices and software. LifeQuote, created by Direct Life & Pension Services, assembles the best experience and knowledge from the UK’s private medical insurance (PMI) market. It said it expected insurers to include health tracking data, such as those from Apple watch or FitBit, into their underwriting. Currently, no protection insurer uses individuals’ health tracking in the underwriting process.
Neil McCarthy, a director at LifeQuote, said that many PMI companies are setting premiums through data gathered by mobile health tracking. “We would expect protection providers to look at including this information as part of their pricing strategy,” he added.
McCarthy said that protection providers considering the adoption of mobile health tracking should have a standardised approach in the future. “We are therefore engaging with insurers now to at least investigate the likely future requirements,” he concluded.
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