Eye, Robot! This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the March 2018 edition of the Actuarial Post. It may be a staple of Hollywood movies, such as Judge Dredd or Minority Report, to use retina-scanning to make the point that the movie is set in the future or to engender fear in horror movies by having the bad guys remove eyes to get access to retina-scan locked buildings, but reality is catching up as biometrics are moving mainstream in many industries in order to control access to particular sections of the building or to monitor hours worked. The question is whether it adds any value to the life and pensions sector or whether we should consider it as a fad that will fade without us spending the time and money to get involved.
By Tom Murray, Head of Product Strategy, Exaxe.