Munich Re Study Finds That Physical Activity Measured by Wearable Sensors Can Effectively Assess Mortality Risk
Wearable sensors measure the level of physical activity through step count and minutes of moderate to vigorous activity per day. Munich Re’s analysis found that steps per day can effectively segment mortality risk even after controlling for age, gender, smoking status and various health indicators.
“Vivametrica has complied a rich dataset comprised of multiple clinical research studies. Through our collaboration, Munich Re data scientists and actuaries were able to apply a broad set of analytic techniques to assess the value of this emerging source of data. Steps per day provides additional segmentation of mortality even after considering traditional underwriting factors such as smoking status, BMI, blood pressure and other health indicators. As insurance companies look to incorporate activity data into risk selection, Munich Re’s analytic staff will advise on underwriting guidelines and actuarial assumptions,” said
Insurers looking to incorporate new underwriting data in evaluating risks or improve customer engagement may want to consider using physical activity metrics from wearable sensors at various touchpoints in the life insurance process.
“We’re excited by the findings of our analysis with Vivametrica and see many opportunities to employ this information into risk assessment for life and disability insurance. As activity data captured by wearable devices and smartphones becomes increasingly ubiquitous it becomes easier to incorporate this emerging source of evidence to streamline underwriting and expand insurability,” said
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2016, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €2.6bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in ERGO, one of the leading insurance groups in
Vivametrica is a health analytics company that provides measurement of mortality and chronic disease risk using digital biomarkers developed from personal sensor data. Vivametrica was started in 2013 by physicians and researchers with expertise in big data, physical activity, wearable devices, and evidence-based health measurement. Members of the team are also founders of the
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This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.
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Munich Re
Manager,
[email protected]
www.munichre.com/us/life
Source: Munich Re
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