Getting a quote for Life Insurance in NZ got a whole lot easier last month when we launched our ‘get your selfie covered’ campaign, a first for NZ.
A lot of factors go into a life insurance quote but an initial estimate relies on just a few things, age, gender, smoking status and BMI (body mass index). It turns out you can tell these things from a person face, so a selfie can do the job almost as well as entering the details yourself and it’s a bit of fun.
Selfie quotes were first offered in the USA last year and Pinnacle Life were keen to be the first in NZ. It took a while to find the best, and most cost effective solution, but working with our IT and digital partners Optimation and Gravitate we got there using Microsoft Azures ‘Face’ technology.
How it works
You simply snap a selfie (on your phone) and the technology does the rest. You’ll get a response with your estimated age and gender, and a Life Insurance quote based on the average cover for people like you. The result won’t always be 100% accurate but it should get close.
And then what?
Once you’ve got a quote you can change any details, such as the amount of cover you want and then you can apply straight away, all online. It should take less than 10 minutes to answer all the health and pastime questions. 7 out of 10 of our customers are covered straight way. That’s because Pinnacle Life use electronic underwriting using another software-based expert system. This means instead of it taking days or even weeks we can approve your policy immediately. Only in cases where the software can’t make the underwriting decision will applicants be required to interact with a human underwriter.
Over 1000 people have tried it already. So if you haven’t already give it a go!All blog articles