Wearables are prevalent in the insurance sphere, with 31 percent of insurance companies already using wearable technology for customer engagement. This has the potential to be wonderful for insurers. In addition to improving insurers’ decision-making and lowering their risk, wearables can be used to increase customer loyalty and strengthen insurers’ brands via popular apps, gamification and social media.
But before reaping the benefits from wearable technology, insurers will have to take four important steps. Sapiens’ infographic, The Wonderful World of Wearables for Insurers, details these steps, offers interesting insights and explains how wearables are changing the insurance game.