FITBIT
In 2017, Fitbit partnered with a life insurance company, John Hancock, to allow policyholders to earn discounts on their premiums by sharing their fitness data. The partnership was part of John Hancock’s Vitality program, which aims to promote healthy living by rewarding customers for healthy behaviors. Fitbit’s wearable fitness data was a key part of the program and helped to create a new revenue stream for the company. Google’s acquisition of Fitbit was largely driven by the value of the company’s health and fitness data, which could be used to improve Google’s healthcare initiatives and further the development of its artificial intelligence capabilities.
Others Doing The Same In The Industry: Apple has also monetized health and fitness data from its wearable devices through its HealthKit platform, which is used by healthcare providers and researchers.
DATA USED
Wearable fitness data
DATA VALUATION
Fitbit’s wearable fitness data was estimated to be worth up to $1 billion in 2015 by ABI Research. In 2018, Google acquired Fitbit for $2.1 billion