Life Insurance for the Ordinary
Health app developer Cardiogram announced a partnership with Amica Life and the recently established Greenhouse Life Insurance to offer accidental death insurance coverage for wearable technology users.
The new program, which is available to Cardiogram app users on both iPhone and Android devices in selected states, offers the opportunity to qualify for $1,000 of accidental death coverage at no cost for 12 months. Qualified Cardiogram users will also have the option to purchase up to $500k of additional coverage through the app “in as little as three minutes.”
“Aside from you and your loved ones, nobody wants you to be healthier than your health or life insurer. At Amica Life, we are excited about pioneering new digital methods to engage people and meet their needs.” – VP and Chief Life Actuary at Amica Life, Shiela Companie.
“Ultimately, life insurers save dollars by saving lives. This launch is a step toward using wearables to improve health. One of the first challenges we faced was to distill the complex world of life insurance into a simple set of screens that ordinary people can understand on their phones.” – Cofounder of Cardiogram, Brandon Ballinger.
“We think wearables can fundamentally transform the way insurance is distributed and underwritten. More importantly, these tools may help people stay healthier longer.” – President of Greenhouse Insurance and VP, RGAX – Farron Blanc.
Bottom Line: $1,000 of accidental death coverage.