Howdy, Digital People !
Here’s your Digital Tomorrow
Do you want to get good life insurance plan & good benefits? then better take extra care of your face, didn’t get?
Yes, it’s not joke. In the future, there is a possibility that, if you want to opt for any life insurance policy, you can buy it in minutes by just clicking your selfie & uploading it on the insurer’s site. That’s all you need to do & no other tests would be required.
So, What’s the big deal ?
It’s important because,your face would determine the insurance coverage, features & the premium amount payable
Your face will tell your story to the insurance company. Your facial lines and contours, droops and dark spots could indicate about your health condition & how well you’re aging.
A company called ‘Lapetus’ , a science and technology company has introduced a product called ‘Chronos’. Chronos would enable a customer to buy life insurance online in minutes by just uploading a selfie & without taking any medical examination.It’s facial analytics technology would scan hundreds of points on your face and extract certain information, including your body mass index, physiological age &whether you’re ageing faster or slower than your actual age.
Several Life insurance companies are already testing this product to estimate life expectancy for policy approvals & pricing decisions.
In addition to your facial data, with your permission, the insurance company would also pull-out your vehicle data records, prescription drug histories and reports from an insurance industry database of certain information disclosed on past individual life and health insurance applications. The insurer would combine all the results to offer you a insurance.
Many insurance companies are trying to use additional data, statistical models, AI and other techniques to help make quick decisions to ease the policy buying process and boost sales.
For ‘Chronos’ to launch , it first has to get approvals from the regulatory in the countries where it intends to launch
If you smoke or drink, it will be clearly written on your face & there is no chance to hide it. So better be careful. If you take good care of your face,then you will not end up paying extra premium & will get good benefits.