Dear Visitor, this website uses permanent cookies to ensure data privacy as well as to provide access to special content and technical functionalities. With your consent, we may also use cookies for website analysis. For details and how to give or revoke your consent, read our Data Privacy Statement.

  • EN
Top navigation or filters may restrict results of your search. To see all possible results click here.
Fitnesstracker header
Business case

Pay-as-you-live life insurance concept

Released February 05, 2020
Get in contact now!

Our pay-as-you-live concept links the premium of life insurance products to the lifestyle of the insured person. Hannover Re's life insurance expertise, hr | ReFlex and dacadoo Health Score and Engagement Platform enable insurers to provide these products.

Vendor
Logo hannover re

Contacts

Photo of Vera Schneider
Vera Schneider
Hannover Re
Solution expert
Photo of Manuel Heuer
Manuel Heuer
dacadoo ag
Switzerland

The issue

Consumers nowadays expect products that adapt to their habits. They are used to movies and music available at the push of a button, to subscriptions that run for only a month and that can be cancelled at any time - flexibility is a must. 

Wouldn't it be nice if your life insurance cover also adapts to your lifestyle? And wouldn't it be even better if your insurance company would help you to improve it?

In the past, life insurance was not very flexible. You buy it once, put your contract on file and the premium will be debited regularly. If things go well and you don't have any claim, you'll never hear from your insurer again. Normally, there are simply not many touch points between policyholders and insurers. 

But for the insurer, any additional knowledge about the customer, any additional touchpoint can lead to a cross-selling opportunity. And for insurers, customer proximity also contributes significantly to brand awareness and image.

Wouldn't it be nice if insurers get more touchpoints with their customers? And even better if they can help them to improve their lifestyle, at the same time?

Solution

Combining Hannover Re's life insurance expertise, hr | ReFlex and dacadoo Health Score and Engagement Platform enable you to build a pay-as-you-live insurance cover.

Related solutions

How does the process work in practice?

  1. The insurerd buys a life insurance cover.
  2. The medical underwriting is done with hr | ReFlex.
  3. Once the insured downloads the dacadoo app, the data is synchronized and the first health score is calculated. The premium is calculated accordingly.
  4. The engagement tool motivates the insured to improve lifestyle and health score. Their premiums are adjusted accordingly.

Benefits and advantages

Pay-as-you-live life insurance is a concept by Hannover Re utilizing hr | ReFlex and dacadoo. First prototypes are under development with various insurers. More interested companies are welcome at any time, just contact us via the button below.

This gives you the following advantages as an insurer:

  • You can offer a very innovative and flexible life insurance product.
  • You are evolving from a mere insurer to a lifestyle provider.
  • Customer loyalty increases, lapse rates decrease.
  • You get more cross-selling opportunities because you are closer to your customers.
  • Sweden
  • Paraguay
  • Afghanistan
  • Åland Islands
  • Albania
  • Algeria
  • American Samoa
  • Andorra
  • Angola
  • Anguilla
  • Antarctica
  • Antigua and Barbuda
  • Argentina
  • Armenia
  • Aruba
  • Australia
  • Austria
  • Azerbaijan
  • Bahamas
  • Bahrain
  • Bangladesh
  • Barbados
  • Belarus
  • Belgium
  • Belize
  • Benin
  • Bermuda
  • Bhutan
  • Bolivia
  • Bonaire, Sint Eustatius and Saba
  • Bosnia and Herzegovina
  • Botswana
  • Bouvet Island
  • Brazil
  • British Indian Ocean Territory
  • Brunei Darussalam
  • Bulgaria
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Cabo Verde
  • Cayman Islands
  • Central African Republic
  • Chad
  • Chile
  • China
  • Christmas Island
  • Cocos (Keeling) Islands
  • Colombia
  • Comoros
  • Congo
  • Congo, The Democratic Republic of the
  • Cook Islands
  • Costa Rica
  • Côte d'Ivoire
  • Croatia
  • Cuba
  • Curaçao
  • Cyprus
  • Czechia
  • Denmark
  • Djibouti
  • Dominica
  • Dominican Republic
  • Ecuador
  • Egypt
  • El Salvador
  • Equatorial Guinea
  • Eritrea
  • Estonia
  • Ethiopia
  • Falkland Islands (Malvinas)
  • Faroe Islands
  • Fiji
  • Finland
  • France
  • French Guiana
  • French Polynesia
  • French Southern Territories
  • Gabon
  • Gambia
  • Georgia
  • Germany
  • Ghana
  • Gibraltar
  • Greece
  • Greenland
  • Grenada
  • Guadeloupe
  • Guam
  • Guatemala
  • Guernsey
  • Guinea
  • Guinea-Bissau
  • Guyana
  • Haiti
  • Heard Island and McDonald Islands
  • Holy See (Vatican City State)
  • Honduras
  • Hong Kong
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Iran, Islamic Republic of
  • Iraq
  • Ireland
  • Isle of Man
  • Israel
  • Italy
  • Jamaica
  • Japan
  • Jersey
  • Jordan
  • Kazakhstan
  • Kenya
  • Kiribati
  • Korea, Democratic People's Republic of
  • Korea, Republic of
  • Kuwait
  • Kyrgyzstan
  • Lao People's Democratic Republic
  • Latvia
  • Lebanon
  • Lesotho
  • Liberia
  • Libya
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Macao
  • Macedonia, Republic of
  • Madagascar
  • Malawi
  • Malaysia
  • Maldives
  • Mali
  • Malta
  • Marshall Islands
  • Martinique
  • Mauritania
  • Mauritius
  • Mayotte
  • Mexico
  • Micronesia, Federated States of
  • Moldova
  • Monaco
  • Mongolia
  • Montenegro
  • Montserrat
  • Morocco
  • Mozambique
  • Myanmar
  • Namibia
  • Nauru
  • Nepal
  • Netherlands
  • New Caledonia
  • New Zealand
  • Nicaragua
  • Niger
  • Nigeria
  • Niue
  • Norfolk Island
  • Northern Mariana Islands
  • Norway
  • Oman
  • Pakistan
  • Palau
  • Palestine, State of
  • Panama
  • Papua New Guinea
  • Peru
  • Philippines
  • Pitcairn
  • Poland
  • Portugal
  • Puerto Rico
  • Qatar
  • Réunion
  • Romania
  • Russian Federation
  • Rwanda
  • Saint Barthélemy
  • Saint Helena, Ascension and Tristan da Cunha
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Martin (French part)
  • Saint Pierre and Miquelon
  • Saint Vincent and the Grenadines
  • Samoa
  • San Marino
  • Sao Tome and Principe
  • Saudi Arabia
  • Senegal
  • Serbia
  • Seychelles
  • Sierra Leone
  • Singapore
  • Sint Maarten (Dutch part)
  • Slovakia
  • Slovenia
  • Solomon Islands
  • Somalia
  • South Georgia and the South Sandwich Islands
  • Spain
  • Sri Lanka
  • Sudan
  • Suriname
  • South Sudan
  • Svalbard and Jan Mayen
  • Swaziland
  • Switzerland
  • Syrian Arab Republic
  • Taiwan
  • Tajikistan
  • Tanzania
  • Thailand
  • Timor-Leste
  • Togo
  • Tokelau
  • Tonga
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Turks and Caicos Islands
  • Tuvalu
  • Uganda
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • United States Minor Outlying Islands
  • Uruguay
  • Uzbekistan
  • Vanuatu
  • Venezuela
  • Vietnam
  • Virgin Islands, British
  • Virgin Islands, U.S.
  • Wallis and Futuna
  • Western Sahara
  • Yemen
  • Zambia
  • Zimbabwe

Views: 618

Downloads: 35

Ratings by number of stars:
0 %
100 %
0 %
0 %
0 %

Page is favored by 2 user.

Contact inquiries: 2

Interested? Like to know more?

Get in contact now!



Disclaimer

External vendor partners can provide content on hr | equarium. Hannover Rück SE does not verify these contents. Hannover Rück SE is also not responsible and not liable for the contents and services offered. For more information please see the terms of use.

Report site