SCOR Global Life has announced a partnership with Garmin Health, a wearable technology startup, with the aim of improving its underwriting in the Asia Pacific region.
During the partnership, Garmin Health will support SCOR Global Life’s Biological Age Model (BAM) to integrate more biometric data into its algorithm and offer underwriting insights. The partnership will not only allow insurers to get a more accurate assessment of an individual’s biological age in order to offer more competitive pricing but also strengthen BAM’s adaptability for various markets.
With Gramin Health’s technology, policyholders whose biological age is assessed as lower than their chronological age will be eligible for a premium discount and health/wellness coaching.
SCOR Global Life Asia-Pacific deputy CEO Vincent Lopez has said of this partnership: “We are excited about this Garmin collaboration as it underscores the real value of BAM as a leader in the wearables industry. We are starting the year strong with two project launches, one in China (JD China) and one in Malaysia (Hong Leong Assurance)”.