How Wearable Technology is Influencing The Insurance Industry. A nice infographic about Wearabble Insuretech from LifeInsurancePost.com. In 1964, Edward Thorp invented a tiny gadget to cheat roulette in a Las Vegas Casino. A couple of years later, Captain Kirk demonstrated his wrist communicator on a TV show. These were the first wearable devices the world witnessed. Since then, wearable technology has evolved and today it has grown into a billion dollar industry.