Samsung, 1Life, LifeQ and VeoSens Launch First Wearable and App Technology in South Africa
The power of technology to reshape the life insurance market and enhance wellbeing showcased in a webinar
Samsung South Africa, 1Life and Life Q have partnered to launch its first life insurance ecosystem, 1Life Pulse. This game-changing product is backed by the Galaxy Watch Active2 and VeoSens app technology and enables consumers to grow their life insurance cover, by making better choices. The pioneering partnership was launched at a webinar on 2 July that featured Laurence Hillman, CEO of 1Life, Laurence Olivier, CEO of LifeQ, Wesley Clay, Managing Director of Hannover Re, Dr Kevin Shim, Health PM Group Samsung Electronics, Kagiso Khaole, Head of Content and Services at Samsung Africa and Sung Yoon, President and CEO of Samsung Africa. The media in attendance were given valuable insight into the ground-breaking VeoSens App by Samsung and LifeQ.
“Our lives have changed in many ways over the last few years and how we manage our wellness technology needs to evolve to support this new paradigm. We’re proud to support the launch of 1Life Pulse. This strategic partnership between Samsung, 1Life, Life Q and Hannover Re to deliver 1Life Pulse powered by VeoSens, is a great example of technology leveraged to benefit consumers in an inspiring new way, “says Kagiso Khaole, Head of Content and Services at Samsung South Africa.
1Life Pulse is a sophisticated lifestyle monitor and management solution that tracks and guides heart, activity and sleep – monitoring overall wellbeing. Every time you choose to get a little extra sleep or go for a walk, for example, you’re likely to grow your life cover by up to R216 per day, or up to R6 560 per month, starting from day one. Over two years, policyholders can grow their additional life cover by up to R200 000, as they grow their wellbeing. All qualifying new 1Life policyholders that take out cover for R1 million or more, receive a Samsung Galaxy Watch Active 2, chipped against their 1Life policy number.
The Samsung Galaxy Watch Active2 is technology designed to complement your lifestyle. With the many recent and unprecedented changes in the world, many of us are dealing with anxiety, which affects your body’s ability to rest. Fortunately, the Samsung Galaxy Watch includes the first sleep analyser on a wearable device, which means it is able to track sleep patterns and recommend healthy changes. The Galaxy Watch, which was first released in 2013, is an incredible example of Samsung’s innovation and leadership in wearable technology, now wonderfully paired with 1Life’s innovation in life cover.
By simply downloading and activating the VeoSens application, consumers can start growing their life insurance. In fact, as soon as they take up cover, they earn an immediate R50 000 towards their life cover.
In the wearables space, low-frequency measurements based on annual and episodic data such as nurse and fitness instructor visits, combined with basic continuous activity data, is used. With 1Life Pulse, however, VeoSens provides a real-time snapshot of one’s overall wellbeing which allows users to see the impact of simple lifestyle changes.
LifeQ’s solutions are based on industry-leading computational systems biology, and by modelling the body’s physiological systems and how they interact with each other. LifeQ provides four custom Health Scores for Heart, Activity, Sleep and Fitness. These scores provide users with a real understanding of their current state of health and wellbeing and the influence of changes in lifestyle and behaviour – beyond merely counting steps and gym visits.
“We believe that what 1Life has done here is revolutionary – using inputs from a wearable device and rewarding the everyday person with real benefits. We are really proud to help power the industry’s first continuous, wearable-only, wellbeing engagement solution,” says Christopher Rammer, VP Commercial at LifeQ. “The information provided by LifeQ lets 1Life customers engage in and manage their health and, in the long-term, create a whole new innovation platform for 1Life to better help the customers live better lives. This is a ground-breaking company with the latest technology built to analyse, and support insurance-based solutions.”
The 1Life Pulse product helps consumers realise that even the smallest lifestyle changes can make a difference to their wellbeing and simultaneously grow their life insurance cover. This is a new way of life cover, which many believe will be the way of life cover in the future.