Insurance models that offer members financial incentives for meeting fitness goals are proving successful at encouraging sustained levels of physical activity, according to a new report from health and wellness solutions provider Vitality.
Vitality partners with insurers and employers through its shared-value insurance model, which provides incentives to members for meeting various health metrics, such as goals related to physical activity and nutrition. In September, the company made headlines after life insurer John Hancock added Vitality's behavior change platform to all of its policies.
One of Vitality's popular benefits involves providing members with financial incentives for meeting exercise and calorie-burn goals, as measured by the Apple Watch. Sustained physical activity levels contribute to improvements in blood pressure and cholesterol, according to Vitality.
To assess whether these incentives successfully encourage members to improve their physical activity levels, Vitality tapped independent research institute RAND Europe to conduct a study of more than 400,000 people in the United States, United Kingdom and South Africa who participate in the company's "active rewards with Apple Watch" program.
On average, program participants experienced a 34 percent increase in physical activity, totaling 4.8 extra days of activity per month. Participants with a high body mass index showed greater improvements in physical activity levels compared to other demographic groups, with increases of 200 percent in the U.S. However, Vitality acknowledged members with high BMIs were less likely to enroll in the benefit overall.
"This landmark study contributes to a deeper understanding of how people can be incentivized to live fitter and healthier lives," Vitality's founder Adrian Gore said in a news release. "The significance for individuals, the insurance industry and wider society is profound."
To download Vitality's report, click here.