Image Recognition
MUMBAI: Aegon Life Insurance has started using computer vision and facial analytics for underwriting proposals by using a live video to ascertain the age and general well-being of a proposer. The insurer expects to do away with intrusive medical checks for low-value covers using this technology.Speaking to TOI, Aegon Life MD & CEO Satishwar B said that the company has been pilot-testing facial recognition technology to identify gender, age and general well-being. "We started testing with something called an identity check using a 10-15 second video that helped do a face match with the image obtained during the KYC process. We then started testing the same video to identify whether it was male or female, and longevity. While currently it only validates the information provided, it could be the only underwriting that is done.