PAI Health Raises $9M
PAI Health , the Canadian company that offers “meaningful insights rooted in the proven science of cardiorespiratory fitness for insurers, wellness programs and healthcare providers,” has raised $9m in a new round of funding. Established in 1999 and formerly known as Mio Global, PAI (Personal Activity Intelligence), has developed a scientifically validated metric that provides insights on how much exercise an individual needs to live a longer, healthier life.
With this latest round of funding, the company will accelerate its expansion into the insurtech space as a provider of personalized health engagement solutions, along with developing more solutions to help people live healthier, longer lives.
In April, PAI and Gen Re announced a collaboration “to develop insurance solutions for life and health clients in the global market that drive customer engagement and reduce risk.” The company has also recently announced a partnership with Huami – one of the world’s largest smart wearable device manufacturers, for rolling out pilot programs with insurance clients. During the initial phase of the pilot programs, participants will have the option to complete an online survey or share the data from their personal wearable devices to reveal their true fitness age and VO2 max based on their exercise habits. This data will allow insurers to augment their customer risk profiles, enabling them to offer better tailored products and pricing as well as introduce and monitor wellness programs.
“We provide unique solutions that make the science behind cardiorespiratory fitness accessible and relevant to both insurers and their customers, which provides an opportunity to start a dialogue about improved health and wellness. Our PAI metric is more universal and personal than counting steps, as it gives credit for all types of activity and is tailored for the health level of the individual, allowing insurers to increase customer engagement and satisfaction while also leading to reduced costs and risk.” – CEO of PAI Health, Peter Taylor.