Jane J . Wang is the CEO of Optimity , a leading insurtech and engagement tool that powers a mobile-1 st Engagement Engine with embedded distribution funnels . She wants to help people live better by incentivizing healthy lifestyle choices . Email : jwang @ optimity . life
In the decade and a half since the launch of the first iPhone , technology has changed the world significantly . Smartphones are now the dominant mobile device , giving users the ability to make calls , send texts , listen to music , watch movies , write reports , or shop . Companies from nearly every industry developed apps to improve the customer experience and engagement . Today ’ s devices include features like built-in GPS functionality and accelerometers that can track movement . Then there is the plethora of peripheral devices that can seamlessly connect with phones and apps , like scales and activity trackers . Innovative apps that combine , collect , and leverage this tremendous amount of data can help health insurers and agents mitigate risk , offer cheaper premiums , build engagement , and even generate cross-selling opportunities .
Amped up on apps
Several insurers have started to use third-party smartphone-based apps to help policyholders improve their overall health . The apps can track physical activity while encouraging users to exercise , eat well , and get enough sleep . Some apps incentivize this behavior by rewarding users with points that can be collected and traded in for gift cards or discounts . For insurers , the data can assist with underwriting and give a more in-depth look at possible risks for a policyholder .