Adoption of Smart Wearables for Health Self-Tracking and Their Influence on Health Insurance Premiums in India

Rising health care cost reemphasizes the need for Health insurance to be promoted as an essential safety net among people. Post Covid, the focus on health has increased. The increasing use of technology for the promotion of health is also rising. The use of wearable devices as health-tracking tools has also increased. Recently, insurance companies have tried to integrate health data from these wearable devices to reduce insurance premiums. In this context, this study attempts to analyze the impact of health data from wearable devices on health premiums. The study collected data from 200 respondents through an online survey and analyzed it using logistic regression. The findings of this study revealed that gender did not have a significant impact. In contrast, income was a substantial factor impacting the probability of willingness to share data for insurance through smart wearables. The study also concluded that the proposition of reduced premiums generated interest. Further, data privacy was a significant concern for hesitation among consumers for this proposition. Companies should work on privacy concerns and create a robust system to increase consumer interest.