Smartwatches Measuring Mortality Risks Are New Tool for Insurers
- Individuals walking at least 7,000 steps daily have lower risk
- Data may improve life insurance underwriting pool and accuracy
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Smartwatches and other wearable technologies have the potential to change the pricing of life insurance policies by offering better data about individuals’ mortality risk, according to a new report by reinsurance company Munich Re and analytics firm Klarity.
The study uses data from UK Biobank, which tracked more than 500,000 volunteer participants over more than a decade to obtain risk insights based on metrics such as daily step counts, minutes of inactivity or vigorous movement, average heart rates and daily sleep duration.