You’d think life insurance would be almost immune from disruption by technology, but one of the oldest and most data-intensive industries is likely to undergo huge transformation.
If technology being developed in the United States matches the hype, those looking to buy life insurance will be able to have their applications assessed and approved in minutes.
Artificial intelligence is being trained to estimate how long someone will live and their health status – all from a selfie taken by applicant.
North Carolina technology firm Lapetus Life Event Solutions is a leader in the field. With its Chronos technology, the life-insurance applicant takes a selfie and scans their driver’s licence photo against which the selfie is compared.
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