Over the past year, we have seen an increase in the number of health insurance companies offering Apple Watch-based incentives to customers. One of these providers is Vitality Insurance, which has recently conducted a study on how much to offer material benefits that can motivate people to increase their level of training.
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As reported by Financial Times ] Vitality drew its insights from data collected through 400,000 people. Adrian Gore, founder of Vitality Insurance, explained that devices such as Apple Watch have a "remarkable opportunity to make the community healthier."
For the study, participants paid an initial cost of £ 99 for Apple Watch Series 4 or £ 9 for an Apple Watch 3. From there they were charged with a monthly charge of £ 12.50 – but the load varied depending on how much training they performed. Those who register the most training through Apple Watch did not have to pay any monthly fee.
Gore explained that this model creates "loss aversion", which means that the participants were motivated to be active, otherwise they could lose their free access to Apple Watch.
Rand Europe, a non-profit research institute, was required to conduct the Vitality study. Over a period of two years, Apple Watch users have performed an average of 34 percent more active, corresponding to 4.8 extra days of activity per month.
About the study, Apple's chief executive Jeff Williams noted that the results are "An exciting indicator of how much more we can achieve."
Just earlier in the month, UnitedHealthcare began rolling out a campaign that allows customers to earn a free Apple Watch as long as their activity numbers reach specific references. John Hancock has offered a similar promo.
In addition to training and insurance benefits, Apple Watch Series 4 is set to add ECG functionality in the near future. It was reported earlier that the ECG application comes to Apple Watch Series 4 as part of watchOS 5.1.2, currently in beta testing.
What do you think about insurance companies that offer Apple Watch-based promotions and discounts? Does the insurance company offer such offers? Let us know what you think of in the comments below.
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