Do you ever worry about whether the life insurance you have is right for you? With Allstate Insurance’s new patent, you won’t have to. This system uses images of customers to determine body characteristics such as height, weight, and body mass index to then decide on things like cost, coverage, and the type of policy that is best suited for the customer.
Allstate Insurance’s patent US11710189B2 is a continuation of and claims priority to U.S. application Ser. No. 16/555,469 and U.S. application Ser. No. 14/857,159, both of which are incorporated herein by reference in their entirety. While the patent isn’t yet in use, Allstate Insurance’s new system could have a major impact on how life insurance policies are determined.
Allstate Insurance’s new system takes into account not just the customer’s age, gender and occupation but also their physical characteristics. It is believed that this system could help insurance providers determine the right kind of policy for individual customers, based on their physical characteristics. It could also help insurance companies create more accurate and tailored policies that would provide customers with the best coverage for their health and lifestyle.
The system also has the potential to eliminate the need for customers to fill out lengthy forms and questionnaires to determine their eligibility for life insurance policies. Instead, customers can simply provide images of themselves to Allstate Insurance, and the system would analyze these images and determine the body characteristics of the customer. This information could then be used by the insurer to decide the most suitable policy for the customer.
What’s also great about this system is that it could help customers save money. Insurance providers could use the body characteristics data to determine the customer’s risk profile, and thus calculate a more accurate rate for the customer. This could ultimately lead to customers paying lower premiums for their life insurance policies.
This patent from Allstate Insurance is an exciting development in the world of life insurance, as it could make life insurance policies more accessible and affordable for everyone. While there is no guarantee that this patent will be put into use, it is certainly an interesting development. It could potentially revolutionize the way life insurance policies are determined and offer customers more personalized policies that are tailored to their individual needs.
Overall, Allstate Insurance’s patent US11710189B2 could be a game-changer for the life insurance industry. By using images of customers to determine body characteristics, the insurer could provide customers with the most suitable and cost-effective life insurance policies. This could be a great way for customers to have the peace of mind that comes with having the right kind of life insurance policy.