This is a subscriber-only article. Join Entrepreneur+ today for access

Learn More

Already have an account?

Sign in
Entrepreneur Plus - Short White
For Subscribers

Why This Insurer Wants You to Wear a Health Tracker Wearable tech meets rewards at a growing health insurance company.

By Matt Villano

This story appears in the May 2015 issue of Entrepreneur. Subscribe »

Misfit
Fit fashion: The Misfit Mesh Band.

While investors and venture capitalists struggle to find ways to monetize wearable technology, New York-based Oscar Insurance has made it a critical component of policyholders' daily lives.

Customers can request a plastic, Bluetooth-enabled Misfit Flash pendant for free and wear it to keep track of daily activity and sleep goals as defined by Oscar. When a Misfit user reaches a goal, the news is reported to Oscar automatically through an app on the policyholder's smartphone.

Those who meet their goals can earn up to $1 a day (a maximum of $20 per month and $240 a year), paid in the form of Amazon gift cards. Typical daily targets include taking 10,000 steps or walking roughly 5 miles, sleeping more than seven hours a night and getting up to move every 30 minutes.

The rest of this article is locked.

Join Entrepreneur+ today for access.

Subscribe Now

Already have an account? Sign In