Insurance technology platform Watch Your Health is looking to improve the health of policyholders of companies using digital measurement tools. The firm has tied up with both life and general insurance companies in a bid to improve customer engagement.
Set up in 2015, the company provides a digital health ecosystem for the corporate sector and insurance sector, in particular. Individuals are required to enter their health-related data as well as data on the hours of sleep and food habits. Those using fitness bands can automatically transfer the data.
Ratheesh Nair, founder and CEO, Watch Your Health said that they are looking to tie-up with a majority of insurance companies.
"We use analytics to help clients to not only maintain their health goals, we also have doctors, dieticians, physiotherapists and psychologists on our rolls to help individuals for their varied needs," he said.
Using a digital application, the users can get access to their Health Risk Assessment (HRA) and further actions can be suggested based on the data collected. For instance, if an individual is found to be getting inadequate sleep, he/she can be referred to a psychologists who could help them manage their schedules better.
The company has tied up with CignaTTK Health Insurance to offer lifestyle management and health assessment to policyholders. Those who are enrolled in the life management programme receive counselling and guidance from healthcare professionals and could also get 10-20 percent premium discounts.
For the insurance companies, Nair said that this will enable them to get more healthy customers and also improve persistency of the products. There is an on-call health coach available who can assist individuals with queries. All health data is also available on a mobile application for easier access.
The insurance regulator has recently said that companies can offer premium discounts to customers based on actionable data. For example, customers who demonstrate that they are committed to being fit, by walking a certain number of steps each day, healthy eating and exercising may be offered the same product at cheaper price.