Alula Technologies and ROOK partner so insurance companies can unlock wearable data

ROOK lets health, fitness, and wellness companies take data from devices and make it actionable

The wearable market is made of hundreds of devices that are fragmented, leading to disparate, difficult-to-use health data, and requiring one-by-one integration and individual maintenance. That makes accessing and using this data a drain on R&D time, which is already stretched.

ROOK is a company solving that problem by enabling health, fitness, and wellness companies to access and convert their users’ wearable data into actionable insights via a single API integration. 

This kind of data is also useful for insurance companies, and so on Monday the company announced a strategic partnership with Alula Technologies, a provider of cloud-based, technology solutions to the individual and corporate long-term insurance and pension fund industries.

Thanks to this partnership, Alulua's end users, which include insurance, healthcare, and employee benefit solutions, will have the opportunity to go through a fast underwriting process, fueled by technology from face scan to wearable integrations that allow them to get an instant quote for their life insurance.

"ROOK is great in the extraction and aggregation of data, while Alula has strong capabilities in turning this data into risk scores and continuous assessment for the insurance space. This was a natural fit between both of us," Marco Benitez, CEO at ROOK, told VatorNews.

"ROOK helps Alula to be compatible with a wide range of wearables, smart scales, glucose monitors and more devices - not having to worry about the integration and maintenance of all these integrations."

Founded in 2018, the Miami-based ROOK works with clients in digital health, who use the data in remote patient monitoring, chronic disease management, and early detection/prevention, along with clients in the insurance space, who use the wearable data for underwriting, continuous risk assessments, and engagement. 

By using its platform, ROOK's clients can do smart underwriting in insurance in less then 10 minutes.

The New York-based Alula, meanwhile, provides its clients with technologies to help them better understand risk and improve customer experiences. The company integrates data insights with technology to unlock efficiencies and drive better decision making.

ROOK's expertise in aggregating data from various devices, including smartwatches, smart scales, glucose monitors, and more, complements Alula's underwriting processes, ongoing risk assessment strategies, and continual enrichment of health status comprehension. Together, they will assist companies with enhancing user engagement and improving risk assessment accuracy.

"The idea is to grow hand in hand and make 'alternative health data sources,' such as wearables and smart scales, the common data source to evaluate the lifestyle and health data of users to provide better products that are more personalized in the insurance space to everyone," said Benitez.

"We are looking for great partners in the insurance and healthcare space that align with the vision of Alula Technologies and ROOK of creating a world of prevention and early detection thanks to these new opportunities that wearable and other data sources provide."

(Image source: tryrook.io)