Fedo.ai Partners with Canara HSBC Life Insurance for AI-Enabled Non-Invasive Health Assessments
Canara HSBC Life Insurance (CHLI), a joint venture between Canara Bank and HSBC Insurance (Asia Pacific) Holdings Limited. has joined hands with Fedo.ai, an innovative AI-enabled health-tech company, to cultivate a new chapter in the realm of AI-enabled non-invasive health assessments.
This dynamic partnership will leverage Canara HSBC Life’s extensive experience in the insurance industry, combined with Fedo’s cutting-edge AI facial scan technology. As part of the partnership, underwriting processes and onboarding times can be handled more efficiently by providing customers with a quick, non-invasive health assessment scan.
Customers can perform health assessments from the comfort of their homes without the need for invasive procedures or hospital visits. With Fedo’s quick 14-second facial scan, customers can access vital health information, thereby saving time, reducing hassle, and enhancing accessibility—especially in remote areas. By providing detailed insights into every customer’s health parameters, the collaboration underscores the advent of personalized healthcare and fosters informed decisions with an emphasis on long-term well-being.
Commenting on this key milestone, Dr Ashish Kapoor, VP and Chief Underwriter of Canara HSBC Life Insurance, said, “Our collaboration with Fedo.ai represents a significant step in our mission to prioritize the well-being of our customers. By integrating Fedo’s AI-powered facial scan technology into our underwriting process, we’re making health assessments faster, simpler, and more accessible for everyone. Our goal is to take better care of our customers by providing them with the tools to make informed decisions about their health and future. Ultimately, this partnership allows us to focus on what matters most—the long-term well-being of those we serve, while ensuring a seamless, compassionate experience at every stage of their journey with us.”
Thrilled about the partnership, Prasanth Madavana, Co-founder and CEO of Fedo.ai, commented, “The use of advanced AI not only enhances accuracy but also helps insurers make faster, more informed decisions. Our partnership ensures that the underwriting process is both seamless and efficient, empowering Canara HSBC Life Insurance to provide faster and more personalized service, while maintaining the highest standards of care for every individual.”
Fedo.ai is revolutionizing health assessment through the integration of cutting-edge artificial intelligence and computer vision, backed by a comprehensive database of over 25,000 medical journals and a proprietary dataset of 1.5 million graded faces. This advanced technology enables the transformation of selfie videos into vital health metrics, securely on customers’ mobile devices, with privacy as a top priority—ensuring no personally identifiable information leaves the user’s environment.
Fedo is poised to expand its innovative solutions into healthcare, fitness, and mental health. The upcoming phase will emphasize a B2B2C and developer-centric distribution strategy, aiming to integrate Fedo’s health infrastructure across diverse screening applications in multiple industries.
About Fedo
Through advanced AI algorithms, Fedo analyzes 14 key health parameters such as heart rate, BMI, blood sugar, heart rate variability (HRV), stress, cholesterol, and respiration rate using a quick 14-second facial scan via a mobile phone. It identifies six potential disease risks and projects healthcare costs for the next five years. Additionally, Fedo evaluates mental health through mobile phone videos and gamified smart questionnaires. This innovative approach promotes proactive healthcare while providing insurers with actionable predictive insights. Fedo serves insurance companies for lead generation and risk assessment, employee wellness programs for risk evaluation and insights, and healthcare providers for remote health monitoring. Currently, Fedo supports seven of India’s insurance companies and partners with leading health tech and wellness firms worldwide.