Privacy is vital when it comes to “Wearable” Gadget & Platform design.
#FinanceAndBanking
When Insurance Gets “Personalized” & “Predictable”
Your personal health data getting into the hands of Insurance Companies could have horrible consequences.
No one would want Insurance Companies to use “personal” health data for determination of Insurance prices. “Personal” is the key, which means
“So, this guy’s wearables say he has very high risk for Heart Diseases and we are not going to sell insurance to him, but only to those who have low risks for Heart Disease.”
And people who need most – people with the highest risks for Heart Diseases – would be denied of Insurances and won’t receive any healthcare.
Another Problem: the whole point of Insurance is reducing risks of “all buyers” as a whole and if the amount of “individual” risk gets too much predictable – then this overall effect (of reducing risks) is lost.
This is applicable to Insurance Companies and Healthcare Providers in general.
Reformulation of US National Policies & Laws
I would reformulate US National Policies & Laws for the best interest of everyone concerned –
- Wearable Users
- Wearable Manufacturers and
- Insurance Companies.
It is permissible to let Insurance Companies use “Collective” Data, but not permissible to let them use “Personal” Data on an individual basis which would make health (& healthcare needs) of each person predictable.
This applies not just to “Wearables” but Healthcare Providers and Insurance Companies in general.
Private Life & Privacy Concerns
Besides, no one would want readings to be taken while one is in one’s bedroom or in other private places, unless the user permits.
Gaining Trust of Users
We, “Wearable” Gadget and Platform Designers have to be very explicit about – how users’ data that we collect is being “used” or “misused”.
Restricting Data Access for App & Service Developers
I would recommend “Wearable” Gadget and Platform Designers not to give direct access to User Data to App and Service Developers, but only “anonymous” (and “accumulated”, like the averages, total, etc.) access through suitable APIs.
“Privacy and Security” Service
I have plans for introducing a Privacy and Security Service for
- Authorizing Gadget & Platform Designers and App & Service Developers (so that users feel comfortable) and
- Provide explicit information to everyone on how users’ collected data is being used on any of the various Gadgets, Platforms and Apps.
Syed Tahsin 