TOI Exclusive with our CEO: 'Tech I'd Like to see' - Life insurance through 15-second selfie video

Life insurance has always been riddled with complicated, lengthy processes. Medical underwriting is typically a time-consuming process where customers are often asked to undergo medical tests which would help underwriters determine a prospect’s longevity.

Technology has the potential to simplify medical underwriting and make it much more non-intrusive and easier. I would like to see tech that uses computer vision to determine an applicant’s health status solely from a 15-second selfie video.

Using facial analytics and computer vision algorithms, we will be able to derive many vital signs, such as resting heartbeat, breathing rate, and biological age. This will allow for realtime underwriting and immediate policy issuance without the need for any physical medical tests.

With time, the AI engine gets smarter, giving more accurate feedback. The technology can also help rule out insurance frauds, where cartels purchase policies for people on their deathbeds and lay a stake in the claim when the policyholder dies.