For years wearable technology has been poised to become the next big thing in tech since the smart phone. With the introduction of Apple Watch and Fit Bands, it appears that time is finally here. While smart phones, in many ways had an adverse effect on insurance costs (rise in claims from distracted driving for example) wearable technology may present an opportunity for employers to reduce their insurance costs.
Encourage Employee Wellness
Wearable fitness devices can motivate employees by quantifying their goals and tracking their movement, sleep and eating habits. The data from these wearables can complement what is already collected through voluntary wellness screenings, only now employers will receive the information in real time, as oppose to annually at the wellness screenings. Some of our customers have incentivized employees to stay healthy by small rewards for employees that reach goals, or awarding a prize to whomever, for instance, took the most steps in a given month.
Claims Management
Wearables help reduce workers’ compensation costs by helping injured employees return to work faster. First, my motivating the injured employees to take their rehab seriously and secondly by giving supervisors the ability to track their progress and make sure they aren’t blowing it off.
Preventing Workplace Injuries
Wearable technology can even play a prominent role in preventing workers' compensation claims altogether. For instance, shirts with embedded technology could help supervisors monitor their employees' respiration, heartbeat, body temperature and stress levels. Soon there may also be patches that are able to measure an employee's hydration level as well, which would be ideal for construction crews working in hot temperatures. Wearables can also help lower exposure classes like 8810 by preventing back problems caused by poor posture. This wearable alerts employees when the begin to slouch.
The Future
Wearable technology is still in its relative infancy stages, but the future promises many new, creative opportunities for employers to cut insurance costs. Of course, there are some barriers such as balancing employee's privacy concerns. But what is indisputable is that wearable technology will have it's place in the workplace moving forward. To what extent, is to be determined. Here are some cool wearable that the future may be available in the near future. Some are actually available now, though are likely too expensive for it to make sense for company's to purchase them for their employees. That may change as technology improves, but until then, they are still cool ideas to read about.
2. Clothing that Detects Poor Air Quality
3. Clothes that Measure Hydration Levels
