ITC DIA Europe

Garmin Health: Fostering Wearable Technology in Insurance

Written by Jolijn Schalkwijk on Apr 24, 2024

Wearable devices are playing an increasingly important role as insurers invest heavily in accurate risk assessment and underwriting procedures. With wearables, insurers can augment their traditional underwriting dataset with additional physiological endpoints, as well as transition more easily from a static underwriting process to a continuous, long-term assessment that provides the ability to engage and affect behaviours and outcomes.

To engage policyholders and reduce medical costs, Garmin Health provides devices and monetary incentives to insurance customers to encourage a healthy and active lifestyle. Garmin Health produces devices for corporate wellness programs, providing biometric sensor data in an ever-expanding industry. Life and re-insurance companies use Garmin’s wearable devices to stratify risk and improve their margins.

Ultimately, Garmin seeks to find and relieve its customers’ pain points through its comprehensive data ecosystem which allows them to share the data generated via its wearable sensor technology. Whether it be customer acquisition, health promotion, risk assessment, or selective prevention control, Garmin has access to thousands of partners to find the perfect solution. With the ability to bring wearable devices to customers anywhere around the globe, Garmin is dedicated to helping insurers offer the best health solutions for their customers.

How it works

Third-party collaborators can tap into collected data from wearables to enrich existing insurance programs and build new solutions and personalized user journeys. Data can be accessed via Garmin’s flexible APIs and SDKs.

Why did we select Garmin Health for ITC DIA Europe Amsterdam?

Wearable data is still an emerging trend in the insurance space and many companies have a desire to use wearable innovations within their services but don’t quite know how and what is possible. With Garmin Health, insurance companies can integrate wearable solutions into their products and not only enhance the data generated but also help provide their customers with solutions to live and maintain healthier lives. Wearables continue to play an increasing role in the insurance industry. Garmin is extremely proud of the long battery life, durability, quality, and accuracy of information that the company can generate from its wearable devices. You can meet Garmin Health at their kiosk at ITC DIA Europe Amsterdam.

Who is Garmin?

Garmin Health provides custom enterprise B2B business solutions that leverage Garmin’s extensive wearable portfolio and high-quality sensor data for applications in the corporate wellness, population health, and patient monitoring markets. As part of a global company that designs, manufactures, and ships products worldwide, Garmin Health supports its customers’ commerce and logistics needs, allowing enterprises to scale with a single, trusted provider.

Garmin brings GPS navigation and wearable technology to the automotive, aviation, marine, outdoor and fitness markets. Garmin was founded in 1989 by Gary Burrell and Min Kao. It has over 252M+ products sold and tens of millions of Garmin Connect users around the globe. Garmin has over 19,000 employees globally and 82 offices in 33 different countries.

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