"MLC On Track" Clinches Second Industry Award for Innovation in the Life Insurance industry
ATLANTA, April 11, 2016 /PRNewswire/ -- Big Cloud Analytics Inc. (BCA), a leading provider of predictive analytics software focused on Internet of Things (IoT) data from wearable and other medical devices for insurers, clinical research and enterprise wellness, today announces that the wellness program "MLC On Track" (offered by MLC and supported by BCA analytics) is the recipient of the Risk Product Innovation Award by the Association of Financial Advisers (AFA) and Plan For Life (PFL). This is the second industry award for this fast-growing program, which is supported by BCA's health analytics platform.
MLC On Track leverages data captured by Basis Peak™ Fitness and Sleep Trackers by Intel® and analyzed by BCA's COVALENCE Health Analytics Platform. This provides MLC with business intelligence regarding activity levels, sleep and general wellness behaviours of MLC policyholders. As a result of meeting certain wellness targets, MLC On Track participants receive discounts on life insurance premiums.
"BCA is honored to enable the award-winning MLC On Track program with the innovation provided by our real-time health analytics platform that enriches MLC's insurance products," says J. Patrick Bewley, CEO, Big Cloud Analytics. "The continued industry recognition of MLC On Track reinforces the fact that there are now real and revolutionary ways to create wellness programs that bring value to both the consumer and the insurance company. In this case, it's the successful combination of wearable devices and predictive analytics, resulting in a wellness program that connects and empowers all parties involved."
The annual AFA and PFL awards recognize life insurance company excellence based on the products and services they provide to financial advisers and clients.
MLC On Track:
The MLC On Track wellness program leverages BCA's COVALENCE analytics platform to capture, organize and score participants' IoT data generated by the Basis Peak™ Fitness and Sleep Tracker Intel®. The participants can track this powerful data via a personalized dashboard. MLC can use the data to emphasize and encourage improved health behaviors for program participants.
When MLC On Track participants meet wellness targets within 160 days, they receive a 5 percent discount on premiums. Customers have two opportunities to do this, which means that they can receive up to 10 percent off premiums for the life of their policy.
"The program has been a game-changer for our industry, and we are honored to accept an award that highlights the initiative as forward-thinking and customer-centric," says Fiona Guscott, Chief Underwriter at MLC.
For more information on the proprietary health analytics platform that drives MLC On Track, please click here.
About Big Cloud Analytics
Big Cloud Analytics leads the market in real-time predictive analytics technology for the Internet of Things (IoT). Recognized in 2015 by Intel as a Health Innovation Award Finalist and by CIO Review as one of the Top 100 most promising companies in Big Data globally, the Company provides disruptive insurance solutions through its proprietary COVALENCE™ Analytics Platform. Big Cloud serves Life and Health Insurance as well as Hospitals and Clinical Research.
For more information, visit www.bigcloudanalytics.com.
Big Cloud Analytics and COVALENCE are trademarks of Big Cloud Analytics, Inc.
Intel and the Intel logo are trademarks of Intel Corporation in the United States and other countries.
Basis, Basis Peak and their logos are trademarks of Basis Science, Inc. in the United States and other countries.
As National Australia Bank's wealth management division, MLC is committed to providing investment, superannuation, insurance and financial advice to corporate, institutional and retail customers. Our wealth management expertise, coupled with the strength of being within the NAB Group, enables us to provide holistic financial solutions for customers. For over 125 years MLC has been helping our customers create the best possible future.
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SOURCE Big Cloud Analytics Inc.