Introducing #SelfieWorthTaking – a facial recognition algorithm-based insurance platform
Mumbai, 12th February, 2019: Kotak Mahindra Life Insurance Company Limited (Kotak Life) today announced the launch of #SelfieWorthTaking – a pioneering initiative in the Indian insurance space, in Mumbai. Based on facial analysis algorithm, this platform uses a selfie to determine the premium payable to buy a term plan.
Anyone with a smartphone with a camera can simply log on to the site insurance.kotak.com/selfie, click a selfie and access a term insurance quote based on the facial recognition algorithm.
Jasneet Bachal, Head – Marketing, Kotak Mahindra Life Insurance Company Limited, said, “Innovative experiences like #SelfieWorthTaking play a powerful role in helping us expand the insurance narrative to the young and digitally savvy consumers. It allows us to debunk the misconception that getting an insurance cover is a complicated and time consuming process, and expensive too. Now generating a term insurance quote will be as easy as clicking a selfie.”
In November 2013, ‘Selfie’ was announced as the ‘word of the year’ by Oxford Dictionary, but has been long associated with self-expression ever since the invention of the camera. Easy availability of Smartphones accelerated this trend. Also, rapid growth of social media platforms further fuelled the momentum. Millennials dedicate roughly an hour each week to click selfies i.e., 7min/per selfie. People around the globe click pictures, and most of them are selfies.
With its campaign #SelfieWorthTaking, Kotak Life aims to make the selfie clicking experience a meaningful and a memorable one.
About Kotak Mahindra Life Insurance Company Ltd. (Formerly known as Kotak Mahindra Old Mutual Life Insurance Ltd.)
Kotak Mahindra Life Insurance Company Limited is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides world-class insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long-term savings. Kotak Life is one of the fastest growing insurance companies in India and has covered over 22 million lives as on 30th September, 2018. For further information visit https://insurance.kotak.com/