Blockchain, digital distribution and biometrics were among the big technology topics up for discussion at the Exponential Finance conference. Following is some expert insight from the insurance track at the New York City event.
Biometrics & digital identity
Insurance companies should not hone in one particular method when leveraging biometrics. Instead, carriers should deploy a wide-range of identification tools to ensure success, according to Rob Douglas, founder & CEO of BioConnect.
“Don’t pick one. You will be wrong,” he said, adding that of 200 biometric solutions introduced on smartphones and other channels, only 10 will succeed due to market unpredictability. “Today’s improvements are not necessarily tomorrow’s.”
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