Nowadays, due to the increased usage of mobile devices and wearables, the amount of data now available about an individual’s health and wellbeing is mind-boggling. And with this data, insurers can gain insights into the lifestyle and health of applicants, in order to help them with an easy and convenient buying process. This is where London-based HealthyHealth (now rebranded as Qumata) looks to operate.
The company provides health and life insurers underwriting services, enabling them to quantify risk by using digital data. According to Qumata, its approach to assessing health conditions of prospective customers is faster, accurate, and cheaper compared to traditional underwriting methods.