Reuters Case Study: How LiveWell by Zurich is driving win-win value for life and health insurance

Prevention and care are better than cure

When used effectively, prevention and care can drive more efficient claims management and healthier outcomes for members and the business.

Stephanie Lloyd, CEO of the digital health platform, LiveWell by Zurich, recently sat down with Reuters to explain exactly what sets LiveWell apart in the industry.

“Fundamentally, if we can help policyholders prevent health issues down the road it's going to be a win-win for all of us. Our core proposition is focused on lifestyle change, encouraging behaviors and healthy habits that users can adopt and perform consistently,” she says.

Livewell, launched in 2020, is transforming life insurance. It aims to make the often-transactional nature of life insurance deeper and more meaningful. Lloyd says Livewell is using behavioral science to better understand customers. It seeks to find what motivates people by adapting to their individuality.

“We’re trying to offer something that speaks to each person from inside the platform,” she says.

The evidence-based rationale is that healthier behaviors drive better wellness outcomes. For example, an increase of just 1000 average daily steps is associated with a 15% decrease in mortality.

Three ways that Livewell is stepping up:

Increased activity

Around 40% of LiveWell’s users start their health journeys with an average daily step count of less than 3,000. In their 1-2 months of usage, this average increases to 5,500 steps per day.

Customer retention

In Australia, where Livewell has been operating longest, Zurich’s data indicates app users are more engaged and more likely to stay as customers over a 12-month period.

Engagement

Livewell users engage with the app about 15 times a month. This means sponsors can connect with their users more frequently, providing them with relevant information and offering them useful services.

To learn more about how the insurance industry is changing, download the complete whitepaper here.

To experience LiveWell for yourself, download the app and get started.