I doubt that knowing what time you sleep, when you exercise, and your hearth rate can add a lot more risks. Maybe the hearth rate combined with what you are doing on your phone can be used to measure the effect of what you are reading or watching...
I'm fairly confident this will eventually happen, as I had a professor explain to me that he wears a fitness tracker in exchange for a premium reduction. I think the incentive of the insurance company is that they found individuals wearing these devices to be more conscientious of their own health (I don't think they request any data at this point).
Even if you don't partake, these risk models will certainly generalize your demographic to their set of data.
From the Ad-revenue perspective, it's easy to see how they could target you for selling melatonin if your sleep pattern supports it. Or, maybe you're active, which brings about plenty of products to target you for.
Even if my watch is connected to my phone, if my phone isn't connected to the internet, I can't get the data off of it!
I’m not sure how Android holds up but it should be possible to achieve something similar there, I’d guess. On Android there are third party Apps for syncing which should make things easier.
Pros: * Mi Band 4 is very cheap * Reliable HR, steps, activity & sleep tracking * Easy and quick setup * > 20 days battery life * Custumizable watch faces * 5ATM water resistant
Cons: * Xiaomi and Huami are Chinese companies * No always on display (but raising watch turns on display) * Some data could leak should the firewall fail * Currently no third party Apps for syncing to iOS
I wrote a short article about using the Mi Band 4 on iOS with a focus on privacy on my website if you’d like to know a bit more.
They have more or less stated that general availability is just waiting on someone who already has one to demonstrate a useful app. That is they could sell the hardware today, but since it won't do anything it is useless and so they see no point.
I'd be interested to know what and how much it shares info too and if it's safe against things like wifi MitM attacks.