John Hancock life insurance policies to track fitness data

John Hancock life insurance policies to track fitness data

A US life insurance provider is to start linking its policies to healthy living, tracking fitness and health data through Fitbits and Apple Watches.

From next year, John Hancock is ditching traditional life insurance policies for an interactive approach called Vitality that takes advantage of advances in behavioural economics and consumer technology.

All policyholders will be offered an option called Vitality Go, at no extra cost. This will give users access to expert fitness and nutritional resources and personalised health goals through an app and website. If they hit certain goals, users get perks such as discounts at retailers.

A second option, Vitality Plus, takes the idea further. For $2 a month, customers can up to 15% off annual premiums if they agree to track healthy exercise through wearable devices. Users can earn an Apple Watch for as little as $25 plus tax or receive a complimentary Fitbit device to record their activities.

John Hancock has been offering the service as an option since 2015 and says that the results are compelling. Vitality policyholders take nearly twice as many steps as the average American.

Brooks Tingle, president and CEO, John Hancock Insurance, says: "We have smart phones, smart cars and smart homes. It's time for smart life insurance that meets the changing needs of consumers. We believe offering Vitality on all life insurance policies, at no additional cost, is the right thing to do for our customers, our business and society."

Comments: (1)

A Finextra member
A Finextra member 24 September, 2018, 10:24Be the first to give this comment the thumbs up 0 likes

This is wrong on so many levels, but let's just focus on accuracy.

First, apps are grossly inaccurate (and especially when the heart rate exceeds 70% of the maximum, which is the weight loss zone) and numerous scientific studies show they only help people gain more weight. Secondly, they don’t track resistance training, weights lifting or other beneficial physical activities. 

It's ironic that a 21st century technology is meant to encourage a 1950s way of exercising, such as walking and running, and is completely inadequate for 21st century methods of exercising such as CrossFit, HIIT, Insanity...