Once again a new technology is changing how we can expedite life insurance sales. According to NerdWallet, Lapetus Solutions has developed new facial analytic technology which can determine how long someone is expected to live.
The new technology, called Chronos, could help people get a policy approved in as little as 10 minutes, thus avoiding a medical exam.
Many companies are easing away from full medical exams for lower face amounts of coverage. A few of the companies we represent at Surf Financial Brokers offer term life coverage with no exam if the policy amount is under $250,000, and more carriers are heading in that direction. But with this new technology, life insurance policies should get issued quicker and more efficiently. Let's hope it works!
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