While users link their wearables to the platform and have fun improving their health and fitness, insurers enjoy benefits in risk selection, underwriting and product development, and improve their cross-selling and upselling. Whilst most wearables are designed to be either an activity tracker or a body monitor, Munich Re's WELLGAGE health and wellness platform does both. Nice initiatives of Munich Re
Wearables are becoming increasingly successful. Applications linked to armbands, watches, spectacles and other devices that can be worn are becoming more and more popular. According to a survey carried out by Bitkom Research, 31% of Germans over 14 years old used a fitness tracker to record their health data in 2016. Users appreciate being able to improve their physical performance, lose weight in a fun way or manage their health better if they have a chronic illness such as diabetes. According to the study, people use fitness trackers to measure and monitor body temperature (99% of those surveyed), weight (75%), number of steps taken (62%) and distance covered (57%).