Gen Re and PAI Health Take Strategic Partnership to Next Level
Exclusivity agreement demonstrates joint commitment to bringing pioneering digital heart health technology to insurance community.
STAMFORD, CONN.--(Business Wire / Korea Newswire) December 04, 2019 -- Decades of evidence have proven cardiorespiratory fitness to be a leading predictor of longevity and future health. Yet it is one that has been largely overlooked within insurance customer health profiles. With the signing of the exclusive agreement between leading global reinsurer, Gen Re, and health technology software company, PAI Health, this is set to change.
PAI Health is known for its innovation in biometric sensing and algorithm development with unique data insights rooted in cardiorespiratory fitness. The company’s digital services are based on published research that has demonstrated the effectiveness of the heart rate-based metric called Personal Activity Intelligence (PAI) in recommending personalized activity levels for optimal mortality risk reduction from cardiovascular disease and other lifestyle diseases.
Over the past 18 months, Gen Re and PAI Health have been working together to tailor the PAI proposition for the insurance sector. Together, they have now begun showcasing its potential to Gen Re’s clients around the world, with a view to using PAI’s potential to drive customer engagement and explore new ways of assessing risk.
Commenting on the agreement, Winfried Heinen, Head of Gen Re Life/Health International, said: “We meet many insurtech companies with promising ideas but PAI Health stood out from the start due to the scientific rigour behind their solution. We have no doubt about the value PAI holds for the insurance community, both in terms of acquisition and engagement, and ultimately helping consumers lead longer and healthier lives.”
Vincent DeMarco, Head of Gen Re’s North American Life/Health Division, added: “The signing of this agreement demonstrates our mutual commitment to bringing PAI Health’s pioneering mHealth technology to insurance. We look forward to working closely with them to build on the momentum already created.”
Speaking on behalf of PAI Health, Chief Commercial Officer Sally Powell said: “PAI Health’s global strategic partnership with Gen Re comes at the right time as the insurance industry is being challenged by customers to provide digital health solutions that are highly personalised and provide health protection day to day. Gen Re’s global presence combined with our unique solutions makes us ideal partners to co-develop digital insurance solutions that provide significant value to insurers and their policyholders.”
· Hear more about the science behind PAI from inventor Ulrik Wisløff, Professor at NTNU and Head of the Cardiac Exercise Research Group, in conversation with Gen Re’s Ross Campbell. Link to 5 min video (http://bit.ly/2Rf6rBt)
PAI Health is one of a selection of hand-picked insurtech companies Gen Re is working with to develop insurance products and solutions that meet the needs and expectations of consumers in the digital age. Contact us to find out more about our digital activities and to arrange an introduction.
About Gen Re
Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. We work closely with our clients to understand their strategic and operational goals, offering a wide range of products, tools and resources that aim to promote our clients’ ongoing growth and success.
Gen Re is a member of the Berkshire Hathaway family of companies and has earned superior financial strength ratings from each of the major rating agencies. We take our commitments very seriously. With $14.4 billion in capital and $9.7 billion in premiums, we only make promises we can keep. www.genre.com
About PAI Health
PAI Health is a health technology company that offers unique data insights rooted in the proven science of cardiorespiratory fitness. The company’s suite of digital tools help insurers increase engagement, drive new customer acquisition and reduce costs. PAI (Personal Activity Intelligence) is the first scientifically validated and published score that prescribes a personalised level of activity to optimize an individual’s cardiorespiratory fitness to reduce the risk of cardiovascular and other lifestyle diseases. www.paihealth.com
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