Hesus Inoma says insuretech interfaces incentivise wearables for customers

29 Jun 2016

The Founder and CEO of WeSavvy, discussed the topic of “Real time digital health monitoring” at the Next Generation Insurance Customer 2016 conference at the Swiss Re Centre for Global Dialogue.

Click here to find out more about the event.

Read the text version of Hesus Inoma's interview here:

"We talk about the “Uber of insurance”. We believe it's going to be like Tesla at the moment of complete transformation and acceleration, whereby the wearable will be the gateway for the user, the insurance industry as a whole, to move their product from one of indemnification, when of loss professional control. We start with the policy which does a specific purpose when it comes to actually insuring indemnification, where now we can move into other spaces that we didn't look before - the space about how we manage the health of our individuals. With our portfolio, we offer micro insurance policies. We offer the opportunity for the user to actually donate the charity of choice.

Now, they have a purpose to wear the wearable, the embeddable also. Now, I'm becoming healthy. Let's say I do my 10,000 steps on daily basis I earn points. But most importantly, because not everyone is driven by extrinsic rewards, now I have intrinsic rewards that matter to me. The insurance actually lives all around us also as a product, right? It's the product that helps to develop societies. Why don't we think about it in a manner whereby we want to empower the individual, give them the experience that they can now understand the insurance and embrace insurance because as an industry we have failed to communicate the value that we have as an industry for society.

This is a really exciting time for the industry. The interface, we’re in the middle of an interface revolution and I think we are getting to the perfect spot. At least we have a word now called insurtech we can all embrace and live around and drive the change; because the customer is ready, the policy holder is ready and the reinsurer is actually ready also."