Gen Re’s NOW app utilises facial analytics to accelerate policy buying

Gen Re’s NOW app has launched facial analytic tools to enable consumers quicker and easier access to insurance.

A prototype has been released and will enable consumers to purchase life, hospital cash or accidental death insurance.

It works by a user uploading a selfie from their smartphone, Lapetus Solutions’ JANUS facial analytics technology then returns an estimate of the user’s age, gender, and BMI. After this, it provides a streamlined onboarding process, accelerating time to policy.

The mobile app also lets consumers manage aspects of the insurance, including selecting specific days they wish to be covered for Accidental Death insurance.

NOW app is currently in testing in English, Japanese, (Traditional) Chinese, Korean, Spanish, Portuguese and Russian. This is just one of the InsurTech solutions Gen Re is currently working on.

Gen Re regional director for life/health in North East Asia Dirk Nieder said, “The collaboration with Lapetus Solutions brings us closer to the aim of allowing consumers to purchase insurance on their smartphone on the fly, say, in the same time it takes them to travel between two stops on the Tokyo subway.

“Besides its effect on speed and efficiency, we view the facial analytics module as a gamification feature that brings a more human focus to the onboarding process and attracts and motivates an increasingly tech-savvy audience. We’re excited about working with clients in Asia and beyond to bring the benefits of the NOW app to their customers.”

Copyright © 2019 FinTech Global

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