Insurance companies will take selfies of clients to detect diseases with the help of AI

Las insurers will request their customers take one selfie –or self-portrait with up telephone cell phone or mobile device–, to detect diseases through the Artificial intelligence (IA) and digital recognition systems.

The general director of the Mexican Association of Insurance Institutions (AMIS), Norma Alicia Rosas, reported that this system aims to analyze the physiology of the face and define what conditions or risks health problems people face when hiring a safe.

He explained that it is a innovation focused on making a face readingthe results of which will help customers and insurance companies insurance to facilitate the hiring process policyas the health, life, accidents o medical expenses.

“You take one selfie –with your cell phone or tablet– and the system interprets it; so you can see if there is any kind of disease or not, or some propensity,” said Norma Alicia Rosas.

He indicated that the analysis of selfies for the industry of insurance It is a procedure that “is already happening in many Asian countries” and, in Mexico they already exist insurers that are adapting these systems and platforms to the characteristics of the face of the population of Latin America.

“How are we doing? There are already companies in Mexico that are exploring and talking with these people – designers – who make the tools to tropicalize them; because an Asian face is not the same as a maybe face Latin Americanbut that’s it,” said the director of the AMIS.

“Effective risk management requires using advanced technological and data analysis tools to understand and manage these risks more efficiently, providing expeditious responses.”

— Juan Patricio Riveroll, president of AMIS

AI and big data in insurance

During a press conference, held within the framework of the 33 Insurers Convention, Norma Alicia Rosas pointed out that, in addition to AI, the sector has already implemented big data and predictive models in their processes and models job.

He indicated that such systems represent an important help to define the needs and profiles of clients, design new strategies for coverage natural disasters or facts catastrophic and, in this way, establish the financial models to face such eventualities.

The AMIS official explained that one of the Applications most important of the IA and the big datain the insurance market, is the simplification of insurance processes hiring by one safe and the decrease in the levels of refusal to sign a policy.

This, he specified, thanks to the fact that these systems collect data e information accurate about customers, their needs and the risk that you need to cover through a safe doctor, life, accidents, autos that of pensionto mention the most important ones.

“Before, in the life insurance you had to fill out a questionnaire and when you came to a delicate question, they asked you: Do you have diabetes? Then you said: Yes. And when this document arrived to the subscriber or the adjudicator doctor, said: Ah! He has diabetes. No, I think it’s better not to give him the safe”.

“Now with the new technologyyou can now fill out all the data in one tablet or mobile device and you say: ‘well, yes I have diabetes’ and the system asks you: type A or type B?… “Hey, but is it already controlled? What levels of sugar have?, etc.

“And then when you give certain answers to the system there is no longer a rejection immediately, because it already has more information about you and these platforms automatically allow you to calculate a share”, stated Norma Alicia Rosas.

Insurance industry financial data

AMIS noted that:

• The insurance industry It is the third most important investor in the country, with 1.6 billion pesos.
• It has three times the capital of solvency required by law to guarantee compliance with its obligations.
• Pay 500 billion pesos at the end of 2023, with an average of 1,370 million pesos per day.

There is still a lot to do in insurance

During his participation in the Insurers Conventionthe head of the Secretariat of Hacienda and Public Credit (SHCP), Rogelio Ramírez de la O, pointed out that the size of the insurance It is still low compared to its international comparisons.

• In the OECD The sector represents 9% of the GDPin Mexico it is 2.4%.
• The National Financial Inclusion Survey reports that only 21% of the adult population has some type of safe.
• In the women Access to insurance is even lower, at just 16%.

Why don’t Mexicans take out insurance?

The secretary of Hacienda revealed that:

• 31% of the population does not take out insurance economic reasons.
• 26% consider that you don’t need them.
• 16% believe they are very expensive.