Published:
Mar 01, 2025
Author:
Sarah Parsons Wolter
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The life insurance industry may be on the brink of a major shift, thanks to smartwatches. A study by Munich Re and Klarity reveals that daily step counts and other health metrics from smartwatches can significantly predict mortality risk. People taking at least 7,000 steps daily have a lower risk, regardless of age, smoking status, or BMI, and this data could be a game-changer for insurers.
Just as auto insurers use in-car monitors to more accurately price premiums, life insurers can now use smartwatch data. Consumers already share this data with fitness apps, presenting insurers with a unique opportunity. This type of technological innovation isn't unique to life insurance. Amazon, for instance, is revolutionizing its warehouses with robotics, driven by cost - cutting and labour shortages. The company is also investing in talent to employ generative AI in these warehouse robots.
Morgan Stanley analysts project that Amazon's investments in a new generation of robotics-led warehouses could generate approximately $10 billion in annual savings by the end of this decade. Similarly, smartwatches are redefining life insurance, making it more data-driven and potentially more inclusive. Time to take those 7,000 steps…
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