Insurance is picking up momentum! Using tech and subpopulation selection...to target the more attractive segments with a more friendly offer
Many in the health care industry believe that wearable devices can keep patients more engaged with their caregivers, and more mindful of their health in general. The tech-focused health insurance startup Oscar is now ready to put some money behind that belief. The New York-based insurer says it will provide its members with Misfit fitness trackers and give them breaks on their premiums for healthy behavior patterns recorded on their wrists. “The more steps they take, the more money Oscar will give,” the company says in a release. Using the Misfit device, Oscar members will track their own health and transmit the biometric information to their medical timelines on Oscar’s mobile app. Cofounded by venture capitalist Joshua Kushner, Oscar closed a $30 million funding round early this year, bringing its funding total up to $75 million.