Technology Magazine March 2018 | Page 255

WEARABLES CHANGE THE INSURANCE AND CORPORATE WELLNESS BUSINESS

Employers across APAC and EMEA are receiving data-demonstrated risk reduction and cost savings from their wellness program , reinforcing with hard data , the decade long assumptions that wellness provides a business ROI . We can now prove it .
Achieving these results is simple , employees receive a free or subsidized Garmin wearable and are coached through a personalized wellness journey via WellteQ ’ s smartphone app .
The results are available on demand for clients on a real-time dashboard , showcasing risk and cost hotspots .
The chart below demonstrates how participating users rated their stress before and after the WellteQ program .
There is a clear meaningful reduction in perceived stress at work ( 43 % reduction ), and at home ( 41 % reduction ) demonstrated by heart rate variability data and self-reported situational data leading to improved perceptions of energy , wellness and ultimately productivity . Garmin wearables provide incredibly detailed information like movement , activity , sleep , stress , heartrate and heartrate variability which now through WellteQ can identify risk early , so preventative measures can be put in place before the risk becomes costly . Self-reported data has historically been a mainstay of designing and measuring the impact of wellness programs , now it merely supports real world behavioral data provided by wearables
More importantly , user anonymity remains at the core of this experience , at all times the user remains anonymous removing complication from employers and anxiety from employees .
Forward thinking Insurance companies are now taking the lead from enterprise wellness by incorporating digital wellness data for smarter risk mitigation , product distribution and customer retention . Findings are demonstrating a higher ROI than from traditional methods . The underwriting process becomes easier and faster and much more precise . Early disease risk detection activates earlier prevention which saves time , money and heartache for everyone .