This is a decent summary for the uninitiated by Forbes, on Big Data and it's application in Insurance. There have been more detailed and engaging debates, but the Forbes article is a good introduction.
IMHO, the interesting thing here is the overlap between Wearables and Big Data, which is much like the application of telematics.
Notwithstanding the exciting developments for Insurers, the health and lifestyle benefits for the Insured in adopting these technologies are very apparent.
[A] revolution is underway in the world of health and life insurance due to the growing prevalence of wearable technology such as the Apple Watch and Fitbit activity trackers, which can monitor a person’s habits and provide ongoing assessment of their lifestyle and activity levels. According to research by Accenture, a third of insurers are now offering services based on the use of these devices. One of these is John Hancock, which offers users discounts on their premiums and a free Fitbit wearable monitor. Customers can work to reduce their premiums on a sliding scale by showing that they are improving on their unhealthy behaviors.
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