Fitness Tracker Based- Insurance Policies Now in Australia

Insurance Policies

Health has always been on the mind of Australians. The trend to monitor your health through smart watches and trackers has been catching up. Health enthusiasts have created an industry out of these gadgets and tools and now insurance companies are cashing in on this trend.

The world has been taken over by fitness trackers. Normal wrist watches have been replaced by sleek fitness trackers among people of all ages. In Australia, the fad is relatively less. Only 10% or less of Australia is known to have succumbed to this. And insurance companies are already offering Fitness Tracker Based Policies to people. Now the country is debating whether having their information at the disposal of the Insurance companies is really so much of a good idea.

Some Insurance policies have the inclusion of wearing fitness trackers to monitor their health and share details of the same. Consumers are not necessarily elated about this. Though, opting in or out, is completely at consumer’s discretion, there are yet ethical questions arising out of the new practice.

One of the concerns is privacy. Is their data safe from exposure to unwanted or unnecessary forums and portals? Are insurance policies ensuring safety of the same?  These have been met with inhibitions.

Should wearable tech really be the prerogative of the Insurance companies or the individual? Health is for many, a personal habit and ritual, and usually people already in the arena are seen courting these devices. Including a practice that makes wearing it compulsory may not necessarily push them to fitness.

Amidst all these valid questions, there have suggestions in favor of the policy. As long as consumers have control of their participation instead of the company, the inclusion could benefit both sides.