21 Sep Expert Raises Concerns Over Wearable Tech-Based Life Insurance
US insurance giant John Hancock is reportedly moving away from traditional life insurance in favor of “interactive life insurance” which takes into consideration data gathered from policyholders via their wearable devices such as Fitbit or Apple Watch.
However, Senior Threat Researcher at MalwareBytes, Chris “PaperGhost” Boyd, said that a wearable-based insurance policy could be undermined by bad faith or technical trickery since such devices are essentially computers which can be hacked.
He added that the devices could also malfunction, and many could see that linking highly detailed user data to premiums could be too intrusive.
Source: The NextWeb