Some users would share data in exchange for insurance discounts

Parks Associates - Device Data Insurance Discounts

Not all users like the idea of sharing data collected by health apps and wearables. Some have no problems in doing so and are perfectly fine with their personal information being stored on Google’s or Apple’s servers.

If they were paid for sharing information, more users would do so. According to Parks Associates’ research, users would share data in exchange for a health insurance discount though this sharing willingness varies by device used, ranging from 42% of digital pedometer owners to only 26% of those with a sleep-quality monitor. Among smart watch owners, 35% are willing to share data from their device for a health insurance discount.

“Monetary rewards are generally considered among the strongest incentives to generate consumer response, but the majority of connected health consumers are not ready to share their data in exchange for discounts on services or products at this time,” said Jennifer Kent, Director, Research Quality & Product Development, Parks Associates. “More consumers are willing to share data to troubleshoot device problems, suggesting benefits that ensure owners get the full advantages of their products could be more enticing.”

Kent continued to caution companies looking to integrate with APIs that add business value and value to the end user. When evaluating partners, companies in the healthcare space “must keep consumer privacy top of mind,” she said. Parks Associates research finds 35% of consumers in U.S. broadband households are very concerned that their personal health information will not remain confidential.