Insurance & Reinsurance
We help you acquire, engage and deepen the relationship with your customers through enabling digital sales and underwriting processes. Our health and life expectancy solutions are the most accurate in the market, providing you with the right data to make the best decisions.
Disrupting the Insurance industry
We eliminate barriers by using AI-driven health intelligence.
Our solutions are fast and secure, allowing you to underwrite and onboard a customer in seconds with a selfie.
We support dynamic pricing and product design with accurate data and insights.
Facial Analytics
Life Expectancy
AI Solutions
Benefits
Revenue Improvement
- Reach new segments through our fun and easy to use selfie product
- Increase the quality of your leads
- Generate personalized insights for better product pricing
- Empower your customers to be healthier through health intelligence
Customer Engagement
- Faster purchasing process using a selfie
- Strengthened customer relationships using our patented engagement tools: Bioage and Face My Age
- Streamlined customer onboarding experience
- Optimized experience that is easy, online and mobile
Product Portfolio Improvement
- Improved product pricing
- Better claims experience
- Fraud reduction
- Attract younger segments
Cost Improvement
- Reduced onboarding time & cost
- Higher closure rates
- Reduce operational expense of fraud & misrepresentation
Frequently Asked Questions
Can the algorithms be relied upon for underwriting decisions?
How does Lapetus develop new product options?
Academic research is constantly revealing new indications for the face, from detecting genetic conditions to biological aging rates. Our scientists work with governments and industries to understand what outputs are a priority so we can focus our energies on what is important. Once the priority is agreed our unique data acquisition and management team is deployed to gather the right data related to the desired output. Once we have the data, our facial analysis experts determine the appropriate AI technique to extract the signals from the face, then classify these signals into an output.
How frequently are the algorithms updated? How long does this process take?
FA outputs are under continuous development, many are designed, trained, and evaluated before a single solution makes it into our production platform. In some cases, the proposed solution may perform well in the development environment but don’t outperform current outputs in the real world. These algorithms, which may have hundreds of hours of development are not pushed into production. A single output may take hundreds of resource hours to produce an output moved into production. This includes the time the AI team takes to research and design new deep learning architectures, time the Data Acquisition team needs to build new datasets for training and evaluation, and the many hours involved in final evaluation. The final evaluation step compares the proposed algorithms to the current algorithms on the target platform, i.e. Chronos. This involves the Development team taking the algorithms from the AI team and implementing them into our production system.
Our Use Cases for the Insurance Sector
Engaging Customers
Underwriting triage
Underwriting and Product Design
Fraud Detection
Lapetus technology can be integrated into the workflow to evaluate data from applications and make comparisons against a simple selfie, flagging any inconsistencies between the photo and the application.