Wearable devices have the potential to improve underwriting models, attract new business, and provide a better customer experience.
Life insurance companies are hoping to tap into the growing popularity of wearable tech among consumers.
Wearables are constantly evolving. Evermore sophisticated versions of fitness bands and smartwatches are released on a regular cycle. Startups are experimenting with a broad range of wearable devices such as smart headbands, patches, and rings. Tech giants like Apple are regularly filing patents that hint at plans for new forms of wearables.
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