Wearable technology for the general public is still in its infancy, although it has advanced rapidly in recent years. Health insurers have been closely studying the potential use of these devices since their inception, and gadgets that can measure and collect various types of health data have piqued their interest. This study looks at the deployment and practical applications of wearables in the health insurance business. We examine why insurers are considering using wearable devices, how they might improve their business models, and how to avoid some common pitfalls. The wearable devices are touted to provide exact and detailed real-time data. This research investigates public perceptions of wearable technology and its possible applications. This research also discusses the financial implications of incorporating wearables into an insurance policy, as well as other critical considerations when employing wearable data. While wearable data can help insurers get fresh insights into their members' overall fitness habits, the application element of the health insurance premium still has some mystery. This paper also tries to illustrate how the product development phase in health insurance may be improved and how personalized goods can be offered