People everywhere need insurance and need a line of credit.
Credit companies, Banks and Insurance companies need to evaluate the risk of providing these services to people and they have developed sophisticated systems and algorithms to do just that. To work, these solutions require a wealth of information, including credit history and scores, prior insurance claims, information from questionnaires or interviews and even information gathered online.
The challenges are:
The Millennia's and Young people may not have prior credit history or insurance claims
Many people do not have any digital identity or their information is not made public
Information obtained may be biased or false
The algorithm may not be reliable to not enough information is available to make it sound
Personalization – propose personal attitude and perfect marketing.
Faception offers a breakthrough AI technology that analyzes a person’s facial image and automatically reveals his personality, enabling financial services company to get valuable intelligence to support their credit and insurance premium decisions.
For example, our technology can indicate whether a person has a high potential of being a risk taker or not being a good loaner person.
These type of inputs can then be taken into account by the current algorithm, improving it's ability to make an accurate and safe decision.
Our secured solution can run on the cloud or on premise and can operate in a batch more or in real time. It requires no prior knowledge of the individuals, merely their facial images