Lapetus Solutions

Lapetus Solutions, established in 2015, operates as a specialized technology firm developing predictive tools for life events. The company leverages artificial intelligence, machine learning, and proprietary facial analytics to deliver health and longevity insights to the life insurance, financial services, and life settlements industries. Its revenue model centers on providing these underwriting and risk assessment solutions to its enterprise clients. Total funding has reached $4.69 million over two rounds, with investors including Aflac Innovation Partners and Aflac Ventures.

The company was co-founded by S. Jay Olshansky, Ph.D., and Karl Ricanek Jr., Ph.D. Olshansky, the Chief Science Officer, is a distinguished professor of public health with over 35 years of research focused on human longevity, biodemography, and aging. His journey into the venture was prompted by an interaction with the former CEO of AIG, who highlighted the insurance industry's need for technological advancement in life expectancy prediction. Ricanek, the former CEO and current Chief AI Scientist, is an internationally recognized expert in AI, computer vision, and biometrics, and a professor of Computer Science. His work on a government project revealed that facial analytics could measure biological age, not just chronological age, which became a foundational concept for the company.

Lapetus Solutions' core product is CHRONOS, a modular, cloud-based platform that offers a streamlined alternative to traditional underwriting. By analyzing a selfie and answers to dynamic questions, CHRONOS can produce instant assessments of key metrics such as BMI, smoking status, gender, and estimated age. This data is then used to generate life expectancy (LE) and healthy life expectancy (HLE) estimates without the need for invasive medical exams, reducing the underwriting process from weeks to minutes. The technology combines facial analytics with biodemographic information and life event data to provide these predictions. This approach aims to facilitate straight-through processing for insurers, enhance customer engagement, and detect fraud.

The company primarily serves insurers, reinsurers, and financial planning firms, with a growing market in Asia where digital insurance platforms are more advanced. For financial planners, Lapetus provides tools for more accurate life span assessments to inform retirement and care planning. The company also offers its analytics for health and wellness engagement, allowing for personalized health insights through a photo or video. Recent developments include a partnership with Nuralogix to integrate transdermal optical imaging for monitoring health vitals via smartphone.

Keywords: facial analytics, life expectancy prediction, insurance technology, insurtech, underwriting solutions, biodemography, mortality risk, health intelligence, life settlements, financial planning, risk assessment, longevity science, AI underwriting, machine learning, CHRONOS platform, S. Jay Olshansky, Karl Ricanek Jr., life event prediction, digital health, biometric data