General Insurance Article - Vitality comments on Fujitsu Financial Services survey

 Today’s consumers, and particularly millennials, have different expectations of business, which requires us to reconsider the transactional nature of the relationships that have traditionally defined our interactions. In this light, it is particularly interesting to note that 34% of consumers want their bank or insurer to track and advise on health and fitness, and offer discounts on insurance premiums. Globally, our insurance model does this by informing members of their health, motivating them to engage in activities that are tailored to their particular risks, and rewarding them for doing so, including through premium reductions.

 “The advent of wearable technology has significantly enhanced the reach of our model, creating new opportunities for consumers to track their activity, as well as a basis for us to reward the attainment of short-term activity goals. The impact has been profound, with significant increases evident in the amount of activity that our members are undertaking.”