WILMINGTON, N.C., April 5, 2017 /PRNewswire/ -- Lapetus Solutions Inc. (LSI) is pleased to announce its participation in the Sunnyvale-based Plug and Play Tech Center's 2017 Insurtech Innovation Platform, anchored by major insurance groups, including Munich Re, USAA, Aon, Swiss Re, Travelers, and Farmers. By participating, LSI will gain exposure to leading insurance carriers, brokers, and investors interested in partnering with tech startups developing products and services with industry-changing potential.
"We are thrilled to participate in the 2017 Insurtech Innovation Platform," says Janet Anderson, LSI's CMO. "It's further validation that our scientific approach to the prediction of life events resonates with insurers and that the traditional underwriting process is now under the microscope. Today's life insurance customers don't want to face long approval periods and uncomfortable medical exams. They want a fast, engaging purchase process they can access on their smartphones."
According to Plug and Play Ventures' Kevin Wang, "When you bring 'Minority Report' style technology to life insurance underwriting, you get Lapetus Solutions. Their life events platform integrates into existing practices and protocols, helping solve an overly complicated and invasive underwriting process."
LSI was chosen as one of 24 companies, from an initial field of over 1000, to be part of the 12-week program, during which it will have access to funding, workshops and mentoring opportunities. It culminates with the Plug and Play Insurance EXPO in June and formal pitches to Silicon Valley investors.
About Lapetus Solutions
Lapetus Solutions Inc. (LSI) is a venture-backed, fintech services company focused on the development of life event products and solutions for the insurance and financial services industries. At LSI, world-renowned scientists develop revolutionary new ways to predict life events in real time while analytics and technology teams create easy-to-operate digital solutions that help customers access, experience and purchase financial protection products.
Our current product portfolio includes: Detection of Gender, Face Age, BMI, and Smoking as well as Age Progression software and Intelligent Content, giving carriers the ability to design customized solutions. When combined, these tools enable our two end-to-end customer engagement platforms:
CHRONOS -- a life insurance underwriting engine that uses biodemography and facial analytics to engage consumers online and rapidly approve them for coverage
BLISS -- a life event-based financial scoring and planning tool that is the first to consider an individual's health, longevity and wellbeing, in addition to wealth
For more information, visit: www.lapetussolutions.com
About Plug and Play
Plug and Play Tech Center is a global innovation platform, connecting startups to corporations and investing in over 150 companies every year. The 2017 Insurtech Innovation Platform provides an opportunity for selected startups to connect with leading insurance carriers and reinsurers, including Aflac, American National, Aon, Aviva, Farmers, Munich Re, State Farm, Swiss Re, Sun Life Financial, Torchmark, Travelers, and USAA.
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SOURCE Lapetus Solutions Inc.