South Africa’s LifeQ, Samsung rolls out VeoSens, wearable insurance, and health management solution.

South Africa’s LifeQ, Samsung rolls out VeoSens, wearable insurance, and health management solution.

South African biotech startup, LifeQ in partnership with Samsung and Hannover Re has rolled out VeoSens, a wearable integrated insurance and health management solution.

LifeQ uses technology and analytics to improve the health and well-being of humans.  Its solutions fill the gap between medical devices and basic consumer devices while providing business-grade health information to enable real health and risk management.

LifeQ, Hannover Re, and Samsung have worked together for more than two years to create the VeoSens solution which offers insurers with unique consumer engagement, digital data collection, and innovation platforms.

VeoSens utilizes LifeQ’s solutions based on computational systems biology; modeling the body’s physiological systems and how they interact with each other.

CEO of LifeQ, Laurie Olivier said, “VeoSens is a great example of how LifeQ combines life sciences and technology to bring novel life-changing solutions to the market with clear economic benefits to both businesses and consumers.”

“Without information that is more accurate than generated on the average wearable, and forward-looking business leaders that are willing to embrace the state of the art technologies, this would not have been possible. We want to thank Samsung, Hannover Re, and 1Life for being great partners towards setting a new bar in the life insurance industry,” Olivier further stated.

Also, LifeQ has partnered with 1Life, a direct life insurer in South Africa, to launch 1Life Pulse, utilizing VeoSens to knit life insurance, technology, and science together in a simple way. 1Life Pulse provides consumers with attainable, dynamic, and long-term value for making better choices regarding their wellbeing.

All new 1Life policyholders will be given a Samsung Galaxy Watch Active 2, chipped against their 1Life policy number. As soon as customers take up the cover they earn an immediate R50,000 towards their life cover. Thereafter, each time the watch is strapped on, all data collected contribute towards additional cover that can grow by up to R200,000 over a period of two years.

Chief Executive Officer of 1Life, Laurence Hillman said “Our offering is underpinned by the fact that, as your life and health changes, so too does your cover. This is a world-first and we are excited at the prospect of what this will mean for the consumer and their capacity to make better choices around their wellbeing.”

LifeQ is a fast-growing multinational science-driven technology and analytics start-up that develops solutions that can improve human health and wellness. It was founded in 2014.

Author

Tosin Agboola

Reporter with Ouut Africa.

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