PAI Health Raises $9 Million in New Funding Round to Accelerate Growth in Insurtech

VANCOUVER, British Columbia, Sept. 27, 2018 (GLOBE NEWSWIRE) -- PAI Health, pioneers of the Personal Activity Intelligence score, today announced $9 million in a new round of funding. This accelerates its expansion into the insurtech space as a provider of personalized health engagement solutions, and it furthers the company's work on solutions to help people live healthier, longer lives.

PAI Health helps insurance providers transition from payer to partner, from a transaction-based relationship focused on claims and premiums to one that helps its customers become healthier through lifestyle changes.

"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," says Peter Taylor, CEO of PAI Health. "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."

Personal Activity Intelligence (PAI) is the first scientifically valid metric that translates heart rate data into a personalized prescription for physical activity. Maintaining a score of 100 PAI is the perfect amount of activity to help improve cardiorespiratory fitness (CRF) and provide maximum protection from cardiovascular disease and other diseases.  

Decades of research has shown that CRF is a leading predictor of long-term health. PAI Health's tools can be used to assess anyone's cardiorespiratory fitness without the need for clinical equipment.  Starting with a quick online Fitness Age Test, changes in health that result from physical activity can be measured and recorded through dynamic monitoring. This real-time approach can identify opportunities for proactive health improvement, rather than reactive health care that treats problems after they're entrenched.

PAI has been well received by the insurance industry, offering easy-to-implement, scalable pilot programs that allow for clear differentiation from traditional insurance models. Early pilots saw increases in new customer acquisition, as well as increased levels of customer engagement and motivation to be active. PAI's software solutions unlock the potential of wearable devices for the insurance industry with access to meaningful insights. Accrued customer activity data allows for risk and cost management, optimization of individual plans and pricing and creation of new types of insurance products.

About PAI Health
PAI Health (formerly Mio Global) established its reputation as an innovative pioneer in fitness wearables and accurate heart rate monitoring. PAI Health's mission is to help people be healthier by providing them with an easy and encouraging way to assess, monitor, and increase their physical activity. The company offers meaningful insights rooted in the proven science of cardiorespiratory fitness for insurers, wellness programs and healthcare providers. For more information, visit www.paihealth.com.

PAI Health Media Contact
Tricia Burton
[email protected]