Real-time Premium Calculation Using IoMT in Health Insurance

Insight categories: ArchitectureDigital TransformationIoTFinancial ServicesHealthcare

Traditional methods of calculating health insurance premiums lack the holistic view that takes all factors into account. Basing a quote on whether or not a person is a smoker without acknowledging any other health or lifestyle information, for example, is a missed opportunity.

The Internet of Medical Things (IoMT) — smartwatches, wearable pedometers, apps, and the like — contain a treasure trove of data for insurers to inform smarter, more accurate insurance premium calculations. In this paper, you’ll explore the design considerations and architecture of various IoMT applications for calculating health insurance premiums in real time.

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Ashutosh Gupta

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Chet Kolley

Chet Kolley

SVP & GM, Medical Technology BU

Ravikrishna Yallapragada

Ravikrishna Yallapragada

AVP, Engineering

Christina Gurgu

Christina Gurgu

Director, Client Engagement

Cosmin Stirbu

Cosmin Stirbu

Competency Center Manager, Engineering

Andrei Margineanu

Andrei Margineanu

Associate Vice President

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