ORLANDO, Fla. & LONDON--(BUSINESS WIRE)--Hannover Life Reassurance Company of America (Hannover Re US), a member of Hannover Re Group, and SweatCo Ltd. (Sweatcoin), a leading digital health platform, have joined forces to study the links between physical activity and individual health.
“As a reinsurer, the opportunity to partner with a mobile app at Sweatcoin’s scale is exciting for us,” said Tony Laudato, Head of Partnership Solutions at Hannover Re US. “The outcome of this research effort will have a valuable impact on our understanding of the connection between physical activity and mortality/morbidity risks”.
Physical inactivity is among the leading contributors of premature mortality. Studies show that participation in regular physical activity reduces the risk of coronary heart disease, stroke, diabetes, hypertension, colon cancer, breast cancer and depression.
Launched in 2015 as a health and fitness app, Sweatcoin converts steps into a digital virtual currency, called sweatcoins, which users can redeem in its marketplace. Sweatcoin has been named the fastest growing health and fitness app in history, and it continues to be a leader in the health and fitness category.
“Sweatcoin’s guiding mission is to motivate people to be more physically active through immediate rewards and incentives,” said Oleg Fomenko, Sweatcoin’s Co-Founder. “Through our joint research initiative with Hannover Re, we look to uncover additional insights that will help us drive positive behavioral change when it comes to physical activity, ultimately making the planet a healthier place.”
About Hannover Re Group
Hannover Re, with gross premium of more than EUR 19 billion, is the third-largest reinsurer in the world. It transacts all lines of property & casualty and life & health reinsurance and is present on all continents with around 3,200 staff. Established in 1966, the Hannover Re Group today has a network of more than 100 subsidiaries, branches and representative offices worldwide. The rating agencies most relevant to the insurance industry have awarded Hannover Re outstanding insurer financial strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior".
About Sweatcoin (SweatCo Ltd.)
Sweatcoin is a digital health platform and the creator of the mobile app of the same name. Sweatcoin’s guiding mission is to motivate people to be more physically active through immediate reward. Currently Sweatcoin has more than 7M active users in 42 countries. According to a 2018 study conducted by the Institute of Digital Healthcare (University of Warwick), Sweatcoin drives a 16-20% increase in daily physical activity over a six-month period to its users, and delivers an even higher efficacy to its overweight users.