As with all thing’s technology, the idea of connecting your smartphone to your watch became the next big thing. Now you’re tracking your fitness, monitoring your heart and sleep and linking that to your smartphone. You might even consider sharing your results to the internet.
In the early 1990s the first smartphone was developed by IBM1. Basic by today’s standards, it featured a touchscreen and the ability to send and receive emails a calendar and a few other applications. Fast forward to the 2000s and the smartphones really took off; surf the web, listen to music on your phone, take pictures and so much more.
A winning formula – watch, smartphone, AIA Vitality
With technology making it possible to link our goals to our devices, we get outcomes that benefit individuals and society – it’s a winning formula. Our winning formula is utilising the devices and paring it with AIA Vitality.
When we utilise our devices, in particular our wearables such as an Apple Watch, our health outcomes increase. A study conducted by RAND in 2018, found that Vitality members who use an Apple Watch were 34% more active than the average member.
Why does this matter to me as an adviser?
The health of Australians is a big factor when it comes to the cost of insurance and the math is straightforward – the increased number of claims and their duration, has led to an increase in clients’ premiums. The silver lining in this discussion is that the top five risk factors, that lead to the top five non-communicable diseases which cause 90% of premature deaths in Australia, are modifiable. Read our 5590+ report to learn more about the risk factors.
While the true percentage of spending that contributes to modifiable risk factors is unknown, the AIHW estimated this to be around 39% ($24 billion AUD) with obesity contributing the highest spend2.
So, by promoting healthier living through the utilisation of programs such as AIA Vitality and combining devices, we can positively impact the claims experience and premiums for clients. This then helps your discussions as an adviser, and you can positively impact your client's policy and their health long-term.
And there you have it, the power of devices – what’s next?