John Hancock will start offering free Apple Watch units to its 10 million+ policyholders at a steep discount. The company will be offering the smartwatch to its existing and new members through its Vitality program where life insurers are given perks and rewards for living a healthy lifestyle.
John Hancock is essentially giving the Apple Watch to its policyholders for free. There is only a $25 device activation fee initially. After this, the company will allow members to keep their Apple Watch as long as they live a healthy lifestyle and exercise regularly for two years. If they don’t though, they will have to pay off the smartwatch in monthly instalments.
John Hancock had first started giving the Apple Watch to its customers who purchased life insurance policy of over $2 million. The company noted a 20 percent increase in activity and exercise for such customers which is why it decided to extend the program to all of its policyholders. John Hancock is the only company to offer an Apple Watch to its policyholders at such a steep discount and encourage them to live a healthy lifestyle.
When initially announced, the Apple Watch did not sell like hot cakes like many anticipated it to. However, with the launch of the Apple Watch Series 2 and now Series 3, the smartwatch is doing better than expected and dominating the wearable market. While all other players in the wearable market have all but abandoned the market, Apple continues to make meaningful improvements to its wearable and the overall platform to make it a more lucrative proposition for many. The company is also using the enterprise channel to push sales of the Apple Watch which should help it capture a bigger pie of the market.