Launched in November 2019, in partnership with Taiwanese insurer Nanshan, BAM is a health and wellness platform for both insurance policyholders and public users.
It combines SCOR’s risk knowledge with wearable health data insights from Garmin to encourage healthier lifestyles among users.
Nanshan has already provided over $400 million of critical illness cover to Taiwanese customers.
But now China, Hong Kong, Japan and Singapore will also be able to access the solution, proving SCOR and ReMark with a new market of more than 1.5 billion potential consumers.
“As the world is coping with the Covid-19 pandemic, Asia-Pacific is emerging as a model of how to control the spread of the virus. So, this is the perfect market for BAM which is an innovative application for people who want to positively change the way they live and want to improve their health,” said Brona Magee, SCOR Global Life Deputy CEO.
“SCOR Global Life is committed to leveraging data, knowledge and technology to build solutions with our clients across the consumer journey, having a real impact on people’s health & wellness.”
ReMark CEO Na Jia also commented: “We are proud to partner with a local government for the first time and expand our reach in APAC with three leading insurance players. SCOR’s Biological Age Model BAM combined with ReMark’s device-agnostic Good Life app will help transform the relationships between organisations and consumers as they find alignment in proactively managing health & wellness. The collaboration with Garmin gives customers access to high quality data insights as well as attractive Garmin deals. We are keen to onboard more organisations across the world in the coming years.”
“We are excited that Garmin is part of the journey of this exciting InsurTech innovation,” added Jörn Watzke, Garmin Health Senior Director.
“The Biological Age Model BAM has proven to be a new health metric that users love to engage with every day. Its potential and ability to add value are much wider than the insurance industry. We look forward to more organisations and consumers engaging with this fun initiative.”
Source: Reinsurance News
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