Your Selfies Can Influence Your Life Insurance

It’s 2017, and that means practically everything in your life is influenced by technology. In an age where consumers are constantly tracked for their spending habits, it’s no surprise that advertisers are able to market directly to people who have searched for their products online, and just liking a page on Facebook can make you a target for a company’s marketing agenda. What may come as a surprise, though, is that face-detection technology is in the works to allow life insurance carriers to determine a person’s health status.

How Could This Work?

Life and health insurance rates are largely based on preexisting health conditions and the length of a person’s life. For example, a non-smoker is likely to live longer than a smoker (putting other health factors aside), so a non-smoker will need less health coverage. Facial lines or contours and skin quality can tell a lot about a person’s age and health. Consumers will no longer be able to lie about their smoker status and other health concerns if this face-detection technology works. The technology is called Chronos, and it’s in development under Lapetus Solutions, Inc. a company that dedicates themselves to life event sciences and sensory analytics.

Is That Legal?

You’re not alone if you feel like this is an invasion of privacy, but it is perfectly legal and there are clear benefits. Chronos can turn buying life insurance into a ten-minute and completely digitized process. Imagine if you can snap a picture of yourself instead of having to fill out pages and pages of forms. Lapetus is not at liberty to say which insurers are testing their technology, but we do know that they are life insurance carriers and they are likely using it to determine life expectancy. That means that your insurer can know how long you’re expected to live before you do – but remember, they’ve already been doing this for years. They’ve been pulling your driving, health, and legal records to gather this information. Chronos makes it easier and more accurate.

Chronos cross-checks identity with ID pictures to prevent fraud. As far as its accuracy, all we know is that it can read through makeup, but not plastic surgery, so there are still some flaws. Whether you agree with the use of Chronos or not, it could be the future of life insurance.

If you haven’t yet purchased a life insurance policy of your own, it may be time to do so. Speak with one of our licensed agents today by calling (615) 964 – 5250. 

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