Revolutionising Life Insurance with Wellbeing Data

In this compelling discussion with Judith Ndaba, Senior Operations Manager at Elevate, we delved into the innovative features of their customer portal and its impact on life insurance. Elevate’s portal stands out by integrating a wide range of data, including medical records, financial information, and fitness data from various wearables, into a single, user-friendly platform. This consolidation provides clients with a holistic view of their wellbeing, enabling personalised health goals and actionable insights that encourage proactive health management.

The portal’s unique approach involves offering up to 35% off premiums based on client engagement with their health data. This incentive drives users to regularly update their information, creating a habit of monitoring their wellbeing. Judith shared that the portal’s engagement trends defy expectations: older clients, especially those in their 60s, are among the most active users. They utilise the portal’s features to manage their health and extend their life expectancy, highlighting a significant shift in how different age groups interact with digital health tools.

Additionally, the portal’s ability to integrate data from various wearables into a unified health overview sets it apart in the market. This integration simplifies tracking and provides a more comprehensive picture of a client’s fitness. Judith emphasised that this approach not only supports better individual health management but also enhances the precision of insurance risk assessments, demonstrating Elevate’s commitment to leveraging technology for improved client outcomes and insurance effectiveness.

Key points

• Customer Portal Integration: Elevate’s customer portal consolidates data from medical records, financial information, and wearable devices into a single, secure platform.

• Personalised Health Goals: The portal uses collected data to provide personalised health goals and actionable insights to clients, encouraging proactive wellbeing management.

• Incentives for Engagement: Clients can receive up to 35% off their insurance premiums based on their engagement and data updates on the portal.

• Trends in Client Engagement: Contrary to expectations, older clients (especially in their 60s) are highly engaged with the portal, using it to manage their health and extend their lifespan.

• Wearable Integration: The portal supports integration with multiple wearable devices, offering a comprehensive view of a client’s fitness and health metrics.

• Big Data and AI: Elevate uses big data and AI to analyse lifestyle impacts on health, providing insights and personalised recommendations based on aggregated data.

• Proactive Health Alerts: The system has the potential to proactively alert clients about concerning health trends and risks based on their lifestyle data.

• Holistic View of Wellbeing: By linking various types of data, the portal provides a holistic view of clients’ overall health, enhancing their ability to manage their wellbeing effectively.