Health insurance is a major Australian industry, and when you can get cheaper car insurance for driving safely, it only makes sense that Australians could earn or save thousands a year just by walking—and your fitness trackers can help you do it.
Many insurers already offer members benefits for walking a certain amount of steps per day. AIA offers $5 weekly vouchers for iTunes, Hoyts, Woolworths and Boost Juice for completing 12,500 steps per day, while others offer discounted premiums for staying active.
Medibank’s partnership with Coles offers 10 Fly buys points for every day customers reach 10,000 steps on their fitness trackers, which equates to about five cents. Similarly, Qantas gives frequent flyers the ability to earn points by cycling through the Qantas Assure Wellness Rewards program—although to earn 100 points, participants would need to ride 100km a week.
One US health insurer even will deposit actual cash into an account for members who complete a certain amount of steps a day.
Amy McDonough, senior vice president of strategy and operations for Fitbit Health Solutions, said the scheme can have a big impact on adding value for life—and these types of schemes are resonating with people.
“It’s heading in the right direction, and we’re really excited about that.”