Medical Internet of Things (IoT) in Insurance – Thematic Research

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

The key principle of the medical Internet of Things (IoT) theme is to improve the health and well-being of customers. This can be through many different routes, from gradually improving mental and physical wellbeing through tracking data, often on wearables, to early diagnosis. The leading providers have linked these tools together. An easy-to-use app is essential, one that can either record fitness information or sync from other apps, but also arrange virtual GP appointments, provide information on nutrition and wellbeing, and potentially even offer fitness classes.

A key challenge for insurers within this theme is to win the trust of consumers and convince them to share the health data from their activity trackers, at a time when the risk of cyber threats is high and trust in insurers is low. However, GlobalData’s consumer survey shows that if consumers in the UK who do not currently have this type of policy see enough of a discount on premiums, they will be interested in sharing data. However, concerns over handing over personal data remained the biggest concern to consumers, so insurers will need to show they can keep personal data secure, and any cyber-attacks could be extremely damaging to an individual brand.

Key Trends

The key trends that are related to the medical IoT theme can be classified into three categories: technology trends, macroeconomic trends, and regulatory trends.

  • Technology trends – The key technology trends impacting the medical IoT theme include big data & analytics, data accuracy, mobile health, remote patient monitoring, artificial intelligence (AI), wearable tech, and smart clothes.
  • Macroeconomic trends – The key macroeconomic trends that will shape the medical IoT theme are the aging population, the cost-of-living crisis, COVID-19, and health & wellness.
  • Regulatory trends – The key regulatory trends impacting the medical IoT theme include HIPAA, GDPR, and medical device certification. 

For more insights on key trends shaping the medical IoT theme, download a free report sample

Medical Internet of Things (IoT) in Insurance – Industry Analysis

The global IoT spending by healthcare providers was worth $10.3 billion in 2019. The market is expected to grow at a CAGR of more than 4% from 2020 to 2025.

The medical IoT in insurance industry analysis also covers:

  • Industry Use Cases
  • Market size and growth forecasts
  • Mergers and acquisitions
  • Timeline

Medical Internet of Things (IoT) in Insurance

For more insights on how IoT is impacting the healthcare market, download a free report sample

Medical Internet of Things (IoT) in Insurance - Value Chain Analysis

GlobalData’s medical IoT in the insurance value chain comprises five segments: product development, marketing and distribution, underwriting and risk profiling, claims management, and customer service.

Product development

Medical IoT has allowed for significant transformation in product development in the health sector. Policies from companies such as Vitality have smart devices at the center of them and reflect premium prices and rewards based on the information they are receiving. It allows for more interactive policies and increases the touchpoints between the customer and the insurer.

Medical IoT in Insurance Value Chain Analysis

Medical IoT in Insurance Value Chain Analysis

For more insights on the medical IoT in insurance value chains, download a free report sample

Leading Public Companies

Some of the leading public companies associated with the medical IoT theme are:

  • Allianz
  • Anthem
  • Aviva

Leading Private Companies

Some of the leading private companies associated with the medical IoT theme are:

  • Bupa
  • dacadoo
  • Oscar

To know more about leading companies associated with the medical IoT theme, download a free report sample

Insurance Sector Scorecard – Medical IoT Theme

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecards have three screens: a thematic screen, a valuation screen, and a risk screen. The insurance sector scorecard has three screens:

  • The thematic screen tells us who are the overall leaders in the 10 themes that matter most, based on our thematic engine.
  • The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
  • The risk screen ranks companies within a particular sector based on overall investment risk.

Insurance Sector Scorecard – Thematic Screen

Insurance Sector Scorecard – Thematic Screen

To know more about the sector scorecards, download a free report sample

Medical Internet of Things (IoT) in Insurance Market Overview

Report Pages 51
Regions Covered Global
Market Size (Year – 2019) $10.3 billion
CAGR (2020 – 2025) >4%
Key Trends Technology Trends, Macroeconomic Trends, and Regulatory Trends
Value Chains Product Development, Marketing and Distribution, Underwriting and Risk Profiling, Claims Management, and Customer Service
Leading Public Companies Allianz, Anthem, and Aviva among others
Leading Private Companies Bupa, dacadoo, and Oscar among others

Reasons to Buy

  • Benchmark yourself against the rest of the market.
  • Ensure you remain competitive as innovations and insurance models begin to enter the insurance market.
  • Understand the key impacts the use of medical IoT is having on the insurance industry.
  • See who the key players in this theme are, including insurers, startups, and technology providers.

Aviva

Allianz

Amazon

Apple

AXA

Bupa

Fitbit

dacadoo

Dai-ichi Life

Garmin

Google

Oscar Health

Ping An

Zhong An

Munich Re

Swiss Re

AIG

Tokio Marine

YuLife

Table of Contents

Executive Summary

Players

Technology Briefing

Trends

Industry Analysis

Industry Use Cases

Value Chain

Companies

Sector Scorecards

Glossary

Further Reading

| Our Thematic Research Methodology

| About GlobalData

| Contact Us

Frequently asked questions

Medical Internet of Things (IoT) in Insurance – Thematic Research thematic reports
Currency USD
$995

Can be used by individual purchaser only

$1,995

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Medical Internet of Things (IoT) in Insurance – Thematic Research was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS

Related reports

View more Insurance reports
Financial Services
New
Augmented Reality (AR) in Banking - Thematic Intelligence
$995 | March 2024
Financial Services
New
Belgium Cards and Payments - Opportunities and Risks to 2028
$2,750 | March 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Medical Internet of Things (IoT) in Insurance – Thematic Research in real time.

  • Access a live Medical Internet of Things (IoT) in Insurance – Thematic Research dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.