With the global credit system in need of radical reform, TechRound caught up with entrepreneur Romano Toscano, Founder, MyLifeKit to discuss his company’s new product development, which is set to revolutionize the healthcare and credit industry.
Tell us about MyLifeKit?
MLK is uniquely positioned to use artificial intelligence and change people’s lives by consolidating health and credit related data. The result is LifeScore. Also, people are only defined by credit scores, this is only part of the story, LifeScore will provide a holistic view of people’s lives, making it easier for people to be identified and accepted. favorable for certain financial products
LifeScore is a numerical expression that analyzes a person’s level of life based on a multitude of physiological needs, combined with information typically taken from the user, their device, and direct questions.
What inspired you to start the company?
The unfair credit process is what excites me, a lot of people go through tough times in life but have a good life balance and shouldn’t be determined solely by credit history. Second, the correlation between credit and other parts of life is not emphasized enough. After writing my book; published this year, when I compared life with ten cards to align it, it became clearer than ever that life is a sum of all elements.
Can you give us an example of how it can be used?
Consumers will use LifeScore to assess the potential risks posed by a suboptimal lifestyle and how to minimize any loss that may result from not living it to the fullest. HCPs can use LifeScore to get an overview of why a patient’s score might change and potentially impactful markers.
Health insurers and banks will be able to use LifeScore to identify where they can help customers improve their health and reduce periods of illness requiring medical assistance. The cost savings they will reap can be carried over by rewarding LifeScore users with a discount on their premiums.
What are your plans for the company in the next few years?
As a company, we are here to provide the best scores, we want to be practical beyond credit scores and give the world an overview of more than just credit, we also want to start working on LifeScore for companies (isn’t it great to know if you start working for a company to know their behavior in terms of finances, employee well-being, etc.?) Ours is independent forever. There is only one way to do this.
Romano Toscano is the founder and CEO of MyLifeKit
https://techround.co.uk/interviews/romano-toscano-founder-mylifekit/?utm_source=rss&utm_medium=rss&utm_campaign=romano-toscano-founder-mylifekit Q&A with Romano Toscano, Founder, MyLifeKit