Smart Health Insurance Premium Calculation Using Wearable IoT Data

In today’s time, health insurance premiums have become generalized. They are mostly calculated using broad demographic factors such as age, gender, and medical history, which can make the premium unfair or inaccurate for many people. To address this problem, we came up with the idea of a Smart Health Insurance Premium System. The basic concept is to use wearable IoT devices to capture real-time lifestyle and health data, including sleep quality, physical activity, heart rate patterns, calorie expenditure, and habit indicators such as smoking or alcohol consumption. The collected data is processed to generate a point-based score for each user. Based on this score, the system dynamically determines a fair and customized insurance premium. In addition, the system provides lifestyle improvement suggestions with the goal of reducing long-term health risks and lowering future premium values. This proposed framework shows how combining IoT, data analytic, and health monitoring can create a more accurate, transparent, and user-centric insurance model, bridging the gap between traditional static premiums and modern data-driven healthcare systems.