Elicott City, Maryland - January 10, 2017: Dan Finkelstein, a 37-year-old married father of three plays with his five-year-old twins Jonah, left, and Parker, right, at their home in Ellicott City, Md., Tuesday January 10, 2017.
In October, 37-year-old Dan Finkelstein, went online to explore buying life insurance. To his surprise, in approximately 20 minutes he was the owner of a $750,000 policy. Just a year ago, Mr. Finkelstein's purchase would have taken a month and required blood and urine samples, and an analysis of his medical records. "I was definitely surprised how easy it was," says Mr. Finkelstein, a computer-systems architect and father of three in Ellicott City, Md. Mr. Finklestein's policy was obtained through Haven Life, a start-up owned by Massachusetts Mutual Life Insurance Co. Insurers like Haven Life are for the first time trusting that algorithms which use answers provided by applicants and data pulled from prescription-drug databases, motor-vehicle records and other sources--will reveal nearly as much about a person as analysis of blood and urine.
CREDIT: Matt Roth for The Wall Street