Insurance companies have been making tremendous strides in implementing technology into the giant multi-dimensional industry. First, it was car insurance providers that introduced the plug-ins, such as Snapshot from Progressive, that track your driving history and adjust your insurance costs accordingly. Now, health insurance and cybersecurity companies are getting in on the action. Apple has been working with companies to implement their technology into the insurance industry to help both the insurance companies and customers. One thing is for sure, Apple watches are the future in health insurance.
Reduced Costs For Cybersecurity
Apple and Cisco have teamed up to improve cybersecurity insurance for companies. CEO’s Tim Cook and Chuck Robbins joined together at Cisco Live to reveal their plans on developing lower cost cybersecurity. The plan is to implement an Apple kit that includes both Apple technology and Cisco security to create the ultimate combination of top-notch programming to make insurers more likely to lower premiums for customers who choose to purchase the package. Obviously, the reliable tech companies are more likely to persuade insurers to lowers costs than less-secure tech combinations.
Apple Is Changing Health Insurance
Apple watches have gotten to a point where insurers are beginning to consider providing them to their customers. First, Vitality decided to offer its customers discounted Apple watches in order to improve their premiums. The device works directly with the insurance company’s tracking systems to relay information, so the healthier lifestyle a client lives, the cheaper their insurance will become. Frankly, it’s a genius idea that I can’t believe has taken this long to figure out.
Furthermore, American insurance giant Aetna is working with Apple on a deal that could provide Apple Watches to 23 million health insurance customers. Aetna has already given the watches to 50,000 employees. The way it works is if you maintain the agreed upon health and fitness level, you will be able to enjoy lower insurance costs without being asked to subsidize other people’s bad habits.