Gen Re’s NOW App Uses Facial Analytics to Let Consumers Buy Insurance in Minutes

When it comes to buying insurance, how often do we hear that it’s not the purchase that’s the grudge, but the process?

COLOGNE, Germany–(BUSINESS WIRE)–Gen Re’s NOW app uses facial analytics technology to offer a quicker, easier – and fun – way to purchase Life, Hospital Cash or Accidental Death insurance. The prototype was just launched.

The buying process begins by uploading a selfie from your smartphone. Powered by Lapetus Solutions’ JANUS facial analytics technology, the app then returns an estimate of the user’s age, gender and BMI in an instant. This is followed by a streamlined onboarding process, meaning a policy can be issued to applicants in minutes.

Through the app, policyholders can also manage aspects of their insurance, such as “booking” specific days they want to be covered in the case of Accidental Death insurance.

Talking about the launch of the prototype, Dr. Winfried Heinen, Chairman of the Executive Board of General Reinsurance AG said:

“Gen Re understands the power of innovation and the launch of our NOW app is testament to our commitment to bringing the best ideas in the Insurtech space to our clients in order to develop insurance solutions that meet the expectations of today’s tech-savvy and time-pressed consumers.

Read the full article here.