Consumers Ready to Trade Health Device Data for Rewards

Consumers Ready to Trade Health Device Data for Rewards: Woman exercises checks her wearable health device on her wristConsumers who use wearable devices to capture their health-related data have a message for health insurers who would love access to that information: Make us an offer. A recent Aite Group survey found that 62% of consumers are interested in sharing their connected-device data with payers if their plan offers incentives to do so.

Interestingly, for survey respondents, it’s not all about the money. Aite, a global research and advisory firm, found that 45% of respondents were moderately, very or extremely interested in trading personal data for targeted advice or information about health and safety. And 90% said they would be interested in learning more about incentive-based offerings from their health insurer — higher than for auto, home and life insurance.

A couple of big caveats surfaced, however. Nearly 60% of respondents are concerned about whether their data would be hacked or stolen and more than 40% have reservations about how payers would manage and use their information.

The explosive growth of internet-connected devices and wearable health devices has led health insurers and providers to explore the many ways data from these tools could be used to better understand the health and habits of large populations. Some plans, including Aetna, UnitedHealthcare, Humana and Blue Cross Blue Shield, now offer mobile apps to help users set health and activity goals.

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