Medical Internet of Things (IoT) in Insurance - Thematic Research

This report provides an in-depth analysis of medical IoT's place within the insurance industry. It identifies key players and discusses what they have done well to set themselves apart. It analyzes the investment that has gone into the theme within insurance in recent years, as well as how it is perceived by industry experts. The report also looks ahead to the future, analyzing potential new technologies and how they can be utilized.

The key principle of the medical Internet of Things (IoT) theme is to improve the health and wellbeing of customers. This can be through many different routes, including gradually improving mental and physical wellbeing by tracking data (often on wearables) and early diagnosis. An easy-to-use app is essential - one that can either record fitness information or sync with other apps, but also arrange virtual GP appointments, provide information on nutrition and wellbeing, and potentially even offer fitness classes. The leading providers have all created an app that is a hub for consumers' overall wellbeing, which can lead to a huge uptick in touchpoints between customer and insurer. This approach also helps lower the risk profile of insurers' customers, both by incentivizing them to live healthier lifestyles and by increasing the chance of spotting a potential health issue early on. This will help reduce the number of large claims.

Scope

• Global personal accident and health GWP will reach $1.6 trillion by 2026.
• GlobalData forecasts that healthcare providers will spend $13.3 billion on Internet of Things platforms in 2025 - up from $10.3 billion in 2019.
• Vitality, Ping An, Bupa, and Dai-ichi Life are among the leading incumbent insurers in this space.

Reasons to Buy

• Benchmark yourself against the rest of the market.
• Ensure you remain competitive as new innovations and insurance models begin to enter the insurance market.
• Understand the key impacts the use of medical IoT is having on the insurance industry.
• See who the key players in this theme are, including insurers, startups, and technology providers.