selfie

Legal & General America, a top player in the U.S. term life market, has found a secret passage into U.S. consumers’ wallets: selfies.

Richard Keating investigates how big data and new technologies are changing the face of the insurance industry, and examines the resulting threats and opportunities.

“People think the process is too onerous and the product is too expensive.” That, Legal & General Insurance EVP James Galli told Karen Webster in this week’s TopicTBD discussion, is the perception of getting a life insurance policy.

Selfies may be most keenly associated with narcissistic young millennials on social media, but they could soon have very serious implications for a person’s future. A company in North Carolina has claimed it can take people’s selfies and use them to predict their life expectancies.

As the old adage says, a picture is worth a thousand words. But for life insurers, the value may go beyond that.