Insurers to work with fitness trackers to incentivise a healthy audience

Max Bupa had tied-up with fitness technology firm GOQii to provide users access to the latter's wellness engine

Less than one-third of India’s population enjoys any form of health insurance, with private players reportedly penetrating merely five per cent. Given the vast challenges and opportunities offered by the country’s health care sector — served largely by private companies — insurers view technology as a key tool to innovate products and thereby exploit an untapped market. No wonder, private health insurers are looking to work with fitness trackers and wearables firms to help design coverage plans that incentivise a health-conscious audience.

Sandeep Patel, CEO and MD, Cigna TTK Health Insurance, points out apps and wearables help monitor a user’s health