Strap On The Fitbit: Privy Hancock To Sell Alone Interactive Life Insurance (Mfc; Fit; Grmn; Aapl; Goog)

We accept a full general rule: Don't purchase companies amongst rhymey names, Fitbit, GoPro etc.. In the representative of Fitbit, they volition likely last crushed too Blue Planet to dust past times Apple.

From Reuters, Sept. 19:

John Hancock, ane of the oldest too largest North American life insurers, volition destination underwriting traditional life insurance too instead sell exclusively interactive policies that rail fitness too wellness information through wearable devices too smartphones, the fellowship said on Wednesday

The motion past times the 156-year-old insurer, owned past times Canada’s Manulife Financial Corp (MFC.TO), marks a major shift for the company, which unveiled its commencement interactive life insurance policy inwards 2015. It is instantly applying the model across all of its life coverage.

Interactive life insurance, pioneered past times John Hancock’s partner the Vitality Group, is already well-established inwards South Africa too United Kingdom of Great Britain too Northern Ireland of Britain too Northern Republic of Ireland too is becoming to a greater extent than widespread inwards the United States.

Policyholders score premium discounts for hitting practise targets tracked on wearable devices such every bit a Fitbit or Apple Watch too decease gift cards for retail stores too other perks past times logging their workouts too good for you lot nutrient purchases inwards an app.

In theory, everybody wins, every bit policyholders are incentivized to adopt good for you lot habits too insurance companies collect to a greater extent than premiums too pay less inwards claims if customers alive longer...MORE