As pointed out in Insurtech: Processes are Ripe for Disruption, wearable technology can make an impact on the insurance industry’s product development, customer service, and claims processing processes. Wearable fitness devices, like watches and wristbands, are already providing insurers with access to customer data by tracking health behaviors and habits. Insurers are using this data to offer personalized service, improve risk assessment and pricing, and build customer engagement. The health insurance sector, pointed out by Dorota Zimnoch in How Digital Is Disrupting the Insurance Sector, is using IoT and wearable technology in these ways: Vitality, the UK health and life insurer, rewards customers for being healthy by collecting data via wearable devices like Garmin, Polar, Read more
Posts Tagged 'wearables'
Digital transformation continues to change the financial sector. The increasing use of smartphones and tablets has changed customers’ behaviors and fueled adoption of mobile banking. Wearables capable of storing and processing data allow us to integrate better with the technology and incorporate electronics into every domain of our lives. The question arises whether the wearables can follow that success and become a new disruption for the financial sector. And if so, will they replace or supplement the mobile devices that are currently in use? Current Wearables Banking Market Assessment Wearable technology has exploded in popularity in recent years as the devices have grown smaller and their communication and integration capabilities have grown significantly. The global wearables market was valued Read more
The Internet of Things. Location-based services. Automated reasoning. Social media. Wearables. Analytics. I could extend this list of “game-changing” technologies, and so could you. What’s a CEO, CIO, CTO, CFO, or business unit president to do? Especially when they go to an investor conference and they’re asked to explain “the game-changing technology plan”? Those who work in the C-suite need smart people, budgets, and technology solutions to impact their business processes and overall business model. In other words, game changers need context; otherwise, C-suite(rs) end up chasing “the next great things,” which is what many companies have done for decades. Remember business process reengineering, Six Sigma, matrix management, and management by objectives? Who created Six Read more
I spend most of my time looking at how individuals access data, information, and knowledge in ways that allow them to make better decisions and to enjoy themselves. With that in mind, here are a few thoughts about some trends that I think will push demands on corporate IT departments and the IT industry broadly: wearables, machine intelligence, and data visualization. Wearables If you look at most phones, tablets, and laptops, you see a continuing clumsy interaction between human and device. A phone flipping through the air as the user loses her handle on it is not a surprising event. Laptops crash to the ground, and there is a thriving industry in screen replacement. While Read more