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A New Insurance Tool Uses Your Face To Predict Health Risks · That Home Loan Hub

• 0:10
  SPEAKER_01: If you're worried about technology and the future and how that's going to affect you, this is an episode for you.
• 0:15
  SPEAKER_01: We had some exciting things happen in the insurance industry, and I've got Rebecca here to give us a little bit of an update.
• 0:21
  SPEAKER_01: Hello, Rebecca.
• 0:22
  SPEAKER_01: Hello.
• 0:23
  SPEAKER_01: Insurance company.
• 0:24
  SPEAKER_00: Yeah, so a bit of a weird one.
• 0:26
  SPEAKER_00: Never before seen in New Zealand.
• 0:28
  SPEAKER_00: An insurance company has bought out a facial scanning software whereby they will scan your face, and depending on the results from it, they can tell if you are susceptible to high blood pressure, multiple things, useless, diabetes, all sorts of things.
• 0:48
  SPEAKER_00: And based on that, depends on the types of insurance questions you're going to answer in the application.
• 0:53
  SPEAKER_01: That's insane.
• 0:55
  SPEAKER_00: It's like it's like 25th century is already here.
• 0:59
  SPEAKER_00: It is.
• 1:00
  SPEAKER_00: Apparently, it's been around overseas for a long time.
• 1:02
  SPEAKER_00: Well, I mean, New Zealand gets the last of things a lot of the time anyway, right?
• 1:06
  SPEAKER_00: But never even heard a word of it here before this.
• 1:10
  SPEAKER_00: Um, for them to bring this in is just you know what will be next though?
• 1:15
  SPEAKER_01: There'll be like full-on machines, like those tanning tubes that you like get in.
• 1:20
  SPEAKER_00: And they do a full answer anything.
• 1:22
  SPEAKER_01: No, you don't have to answer anything, and it will just do like an absolute scan inside out.
• 1:27
  SPEAKER_01: Yeah.
• 1:27
  SPEAKER_01: And then you come out and it will be just like sweet and shit.
• 1:30
  SPEAKER_00: Because all the things wrong with you that you didn't know about.
• 1:32
  unknown: Yeah.
• 1:33
  SPEAKER_00: That's the thing though.
• 1:34
  SPEAKER_00: Like, if I actually I'm gonna talk to my BDM because I'd like to test it out.
• 1:37
  SPEAKER_00: I'm like, but if I do it and it tells me there's things that I didn't know that I had wrong with me, I'm gonna be I don't know that I want to know.
• 1:45
  SPEAKER_01: I was about to say are you gonna be upset?
• 1:48
  SPEAKER_00: Yeah, but yeah, it's it's an interesting one because it's so new here, I don't know how well it will be received at first.
• 1:56
  SPEAKER_00: Especially with people thinking, you know, there's a software scanning my face.
• 2:00
  SPEAKER_01: I was about to say that's that brings up a whole can of worms, right?
• 2:03
  SPEAKER_01: Was the whole security and what are we gonna do with those scanned images?
• 2:07
  SPEAKER_00: So the insurance company don't keep your face scan.
• 2:11
  SPEAKER_00: All it does all it does is whatever it extrapolates, whatever it comes out with from like that.
• 2:17
  SPEAKER_00: You might be, you know, have high cholesterol, high blood pressure, whatever it is.
• 2:21
  SPEAKER_00: That information goes to the insurer.
• 2:24
  SPEAKER_00: And then you'll send a link to an application relevant to that scan, but they don't actually keep your face scan.
• 2:30
  SPEAKER_00: That's what they say.
• 2:31
  SPEAKER_00: Well, that was actually my first thought, too.
• 2:35
  SPEAKER_01: Um, look, guys, I'm not putting you off, but you know, I'm just like you.
• 2:40
  SPEAKER_01: Rebecca and I, we're humans, right?
• 2:42
  SPEAKER_01: And we also quite we like to question things too.
• 2:44
  SPEAKER_01: So we like to challenge things.
• 2:46
  SPEAKER_01: And this is where we're also sitting here going, oof, that feels weird, that feels uncomfortable, you know, how are we gonna deal with that?
• 2:52
  SPEAKER_01: Now tell me, is that a must?
• 2:54
  SPEAKER_01: Do people no?
• 2:56
  SPEAKER_01: Okay, so that's good because the last thing you want is you don't want to tell the client, if you want insurance, you must get facial recognition.
• 3:04
  SPEAKER_00: The one positive, well, I mean, there's other positives, least questions, etc.
• 3:08
  SPEAKER_00: But one of the things they are offering is a month free if you do it.
• 3:13
  SPEAKER_00: Because it frees up their underwriters a bit more if you're answering less questions or whatever the situation is, right?
• 3:19
  SPEAKER_00: So it benefits them.
• 3:20
  SPEAKER_00: So if you do the scan, you get a month's free premium.
• 3:23
  SPEAKER_01: Okay.
• 3:23
  SPEAKER_01: I think you should put me through.
• 3:25
  SPEAKER_01: I'll do it.
• 3:26
  SPEAKER_00: Yeah, yeah, we'll get it all set up and we'll see what happens.
• 3:28
  SPEAKER_01: Yeah, please.
• 3:29
  SPEAKER_01: I would love to know.
• 3:31
  SPEAKER_01: Absolutely would love to know.
• 3:32
  SPEAKER_01: Because I feel like, you know, we live in an era where technology is constantly changing, constantly evolving, and if we're not evolving with it, you know, then you become one of those old grandparents going, don't use the microwave, it's bad for you.
• 3:48
  SPEAKER_01: So it's sort of from the same um theme, isn't it?
• 3:52
  SPEAKER_00: Like you've got to embrace it.
• 3:53
  SPEAKER_00: Yeah, 100%.
• 3:54
  SPEAKER_00: And everything's becoming digitalized, everything like this one insurance company has done it, and when one goes, the rest usually follow.
• 4:02
  SPEAKER_00: You know, so it's probably not a one-off unless there's not a lot of uptake from it, depending on that.
• 4:08
  SPEAKER_00: Yeah.
• 4:08
  SPEAKER_00: Um, because I mean I have mentioned it to a few clients, and how was none of them have wanted to do it?
• 4:15
  SPEAKER_00: They're like, no, thanks.
• 4:17
  SPEAKER_00: I think the younger generation is probably a lot more open to it because they are a lot more open to putting their face out there.
• 4:22
  SPEAKER_00: Yeah.
• 4:23
  SPEAKER_01: I was about to say, well, it's no different to having your face on Facebook.
• 4:26
  SPEAKER_01: Because everyone has access to that picture.
• 4:28
  SPEAKER_01: I mean, once it's online, that's it.
• 4:30
  SPEAKER_00: Yeah, exactly.
• 4:30
  SPEAKER_00: I mean, Insta, TikTok, all of that stuff.
• 4:32
  SPEAKER_00: Yeah.
• 4:33
  SPEAKER_00: That people are just, you know, they're happy to do it.
• 4:35
  SPEAKER_00: So, yeah, same thing.
• 4:37
  SPEAKER_00: And really, if weirdly, for some reason the insurance company did keep your photo, what are they really gonna do with it?
• 4:43
  SPEAKER_01: Like I've got ideas for you.
• 4:48
  SPEAKER_01: Hey, it was the PG show.
• 4:51
  SPEAKER_01: All right, kids.
• 4:52
  SPEAKER_01: But yeah, you're right, like you know, one insurance company set the path.
• 4:58
  SPEAKER_01: I'm sure others will come up with their own way of doing it.
• 5:03
  SPEAKER_01: As I said, it might be that tanning booth of uh walking in and getting a full body scan.
• 5:08
  SPEAKER_01: I mean, that already happens at the airports, yeah.
• 5:10
  SPEAKER_01: You know, we we walk into a little thing where you stand there with your arms apart and you get scanned.
• 5:17
  SPEAKER_01: And I think there's something to be concerned about, but not to be afraid of.
• 5:24
  SPEAKER_01: And as long as you do proper research, you know, and this is where we as advisors will put a hand up and go first and let you know how painful that was.
• 5:33
  SPEAKER_01: But if that frees up the underwriting questions, then yeah, that's awesome.
• 5:37
  SPEAKER_00: Absolutely.
• 5:37
  SPEAKER_00: Um, to as a caveat, it is for the like life trauma side of things, mortgage protection, you're still going to be asked the full range of questions just because it's a lot more detailed.
• 5:47
  SPEAKER_00: So if you're getting the basic, more basic covers, then it's definitely a positive to do.
• 5:52
  SPEAKER_00: Plus, it also just gives you an idea of like it might come back saying something that you aren't aware of.
• 6:00
  SPEAKER_00: Well, not that I would like I said before, I don't want to know, but you can actually go to your doctor and get them to check something, right?
• 6:06
  SPEAKER_00: Because if your face is showing something that you're not aware of, get on top of it sooner.
• 6:11
  SPEAKER_00: So, in a way, it's sort of giving you a health, like a free little health check, as it were.
• 6:16
  SPEAKER_00: Okay.
• 6:17
  SPEAKER_00: And you could pick something up a lot sooner than eventually going to the doctor and then doing a blood test.
• 6:23
  SPEAKER_01: Yeah, love it, love it.
• 6:24
  SPEAKER_01: And look, what you just reminded me of as well.
• 6:26
  SPEAKER_01: I remember at one of the beauty expos, it was women's expos or whatever, there was a beauty stand, and they could scan your face for aging, uh-huh, and they could show you what's going on behind your skin as well.
• 6:38
  SPEAKER_01: You wouldn't want to know that either.
• 6:39
  SPEAKER_01: Yeah, and it had like it's it's like a temperature map, and it would show you different, you know, zones and heats, and oh, it was just so weird to see your face.
• 6:49
  SPEAKER_01: Like, and then they also had the aging one, and it's like no, no way, and no way ever would I go near that.
• 6:57
  SPEAKER_00: It was really cool.
• 6:58
  SPEAKER_00: I made the mistake of doing one of those on I think it was Snapchat back when Snapchat was more of a thing, and I looked exactly like my grandmother, which is not I'm not saying it's a bad thing, but my god.
• 7:07
  SPEAKER_00: Wow, like almost identical.
• 7:10
  SPEAKER_00: Wow.
• 7:11
  SPEAKER_00: Well, at least you know you're related and you haven't been adopted.
• 7:13
  SPEAKER_00: That's true.
• 7:14
  SPEAKER_00: And I know, I mean, my dad didn't have a show, and like I don't look like him at all.
• 7:18
  SPEAKER_01: Love it.
• 7:19
  SPEAKER_01: Any other updates from insurance providers in regards to technology?
• 7:23
  SPEAKER_01: Or is this the main one?
• 7:24
  SPEAKER_00: That's the main one.
• 7:25
  SPEAKER_00: There's always little updates to things, like they're always updating their e apps and all of that sort of thing, but that is the big one.
• 7:31
  SPEAKER_01: Okay.
• 7:32
  SPEAKER_01: Awesome.
• 7:32
  SPEAKER_01: Well, thank you, Rebecca.
• 7:33
  SPEAKER_01: It's been nice having you today.
• 7:34
  SPEAKER_01: Thank you.
• 7:35
  SPEAKER_01: See ya.
• 7:36
  SPEAKER_01: See ya.