U.S. Life Insurance Rewards and Incentives Programs: It’s Game Time!

A new Aite Group report finds that policyholders are willing to share their personal data for underwriting purposes or to participate in rewards programs. 

Boston, July 11, 2019  — Using technology is now common among all ages, and consumers’ concerns around sharing personal data aren’t nearly as significant as they used to be. Life insurance policyholders like and enjoy incentive programs, own health-related connected devices, and are ready to share personal data in order to gain benefits and interact with their life insurance carrier. It’s time for life insurance carriers to step up their game and build rewards and incentive programs that develop loyalty, increase market share, and provide an endless source of data. U.S. Life Insurance Rewards and Incentives Programs: It’s Game Time!, Aite Group’s newest report, was written to be a source for carriers, providing them the information necessary to design rewards and incentive-based products and programs fitting for the life insurance industry.

“Not only are life insurance policyholders tech savvy and investing in and using connected devices, they are also not afraid to share their personal health-related data with their life insurance carriers,” explains Samantha Chow, senior analyst at Aite Group.

This report provides detailed statistics on life insurance policyholders’ ownership and use of connected devices as well as their willingness to share data. It was designed to provide carriers and vendors a roadmap by exploring consumers’ knowledge and use of connected devices; their willingness to share information from those devices with auto, home, life, and health insurers; and the appeal of various programs that offer rewards and benefits in exchange for information. It is based on a Q1 2019 Aite Group online survey of 766 U.S. consumers who were asked about their thoughts concerning connected devices and technology.

To request a press copy of this report or to speak with Samantha Chow about this topic, please contact us at [email protected].

About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.

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