Selfies: Changing the Face of Underwriting

Some life insurance companies are testing brand-new technology that could change the face of underwriting...literally! Research is being conducted on a program that scans pictures of faces to determine overall health and aging qualities. That’s right, folks! Selfies could be the future of underwriting.

The program is called Chronos and it works like this: It scans the selfie by mapping out hundreds of points on the face. This allows the program to identify BMI and even how well the person is aging compared to others in their age range. Their selfie is then matched up to their drivers license picture to verify identity. An insurer can combine the information from the selfie scan with the person’s medical and lifestyle information to determine rate class.

Have fun trying to cover up any sun spots or fine lines from smoking. Creators of the program say their technology can detect makeup. What it can’t detect is plastic surgery. If this underwriting method gains traction, you may see more appointments for Botox at your local med-spa.

Although this method may sound cool (or terrifying), it’s still in its beginning stages. Insurers will have to come up with ways to make clients comfortable with providing a selfie. They also will need to somehow deter clients from submitting selfies taken years ago.

We are definitely keeping our eye on this trend...