HealthAwear's vision is to become the global standard for health risk assessment and enable personalized insurance with wearable technology. We address the lack of personalization in the health and life insurance industry across all stages of insurance policies - from offering personalized quotes to engagement and preventive health care for existing customers.
HealthAwear is the first in the market to calculate a standard health score for underwriting using wearables and AI techniques. Although focusing on the underwriting stage, we create a personalized offering to both acquire new clients and retain existing ones - also using reinforcement learning to automatically set premiums and offer users discounts for additional information. Our health score is determined from the fusion of all data provided by the insured and must be validated periodically.
The paying customers are insurance companies who wish to attract a healthier portfolio of insured individuals by offering discounts and ...
HealthAwear's vision is to become the global standard for health risk assessment and enable personalized insurance with wearable technology. We address the lack of personalization in the health and life insurance industry across all stages of insurance policies - from offering personalized quotes to engagement and preventive health care for existing customers.
HealthAwear is the first in the market to calculate a standard health score for underwriting using wearables and AI techniques. Although focusing on the underwriting stage, we create a personalized offering to both acquire new clients and retain existing ones - also using reinforcement learning to automatically set premiums and offer users discounts for additional information. Our health score is determined from the fusion of all data provided by the insured and must be validated periodically.
The paying customers are insurance companies who wish to attract a healthier portfolio of insured individuals by offering discounts and providing a personalized price according to general health. They will offer their customers a website/app to upload their wearable device data and fill out a personalized questionnaire - with only the relevant questions which include data that cannot be retrieved from their wearable devices. After the data reaches HealthAwear’s servers, our algorithm creates a health risk score and together with the price engine of the insurance company the integrated health score produces a personalized policy and quote. After the policy is signed and underwritten, the insured will have the option to provide periodic updates with regards to their health score by connecting their wearable device to our servers. This is used for continuing to offer the discounted premium and providing preventive healthcare advice by the insurance company.
While working with insurance companies on various PoC's, HealthAwear will also approach reinsurers to gain their trust in its scoring algorithm. This will be achieved using results from the PoC's as well as clinical trials in leading hospitals - to be conducted in the first stage to train the algorithm with labeled clinical data. Reinsurers will use the HealthAwear insurance score as a tool to assess risk in their general deal making with insurance companies – and request their clients (insurance companies) to use it as a tool. This will enable HealthAwear to become the go-to risk calculation engine in the health and life insurance industry.
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Itamar Meimon
Admin
Itamar Meimon VP Biz Dev Co-founder of Spaceek - an IoT/Smart City start-up which developed smart parking solutions. I surf, ski, enjoy travel, and other adventures.