Destructive demand: Is it happening in insurance underwriting now?

Destructive demand can damage the reputation of insurance. It happened with referral fees. Could it be happening again with underwriting data?

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Four challenges that insurers face when using artificial intelligence in claims

The use of artificial intelligence in claims represents a ‘significant opportunity’ for the sector, said Ageas. It also introduces some slippery slopes, four of which I explore here.

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Smart contracts in insurance: clever but dangerous

Smart contracts in insurance open up all sorts of opportunities. And they sound clever and exciting, but they also raise questions. How will they influence trust in insurance?

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Have brokers done enough to improve their handling of conflicts of interest?

Have insurance brokers done enough to improve their handling of conflicts of interest? 3 years ago, the FCA identified multiple problems. So how have things changed?

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What insurance people must learn to make better decisions

Learning professionals need to pay attention to behavioural factors that influence the way we make decisions, in order to influence the ethical culture at their firm.

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5 crippling beliefs that get in the way of people addressing ethics

I’ve come across a number of beliefs that get in the way of insurance people getting behind their firm’s push on ethics. Here’s 5 of them.

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What risks does big data pose for professionalism in insurance?

Big data is starting to transform insurance. It could also transform professionalism in insurance, in ways that present some pretty new risks. So what should professional bodies around the world look out for?

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Can an insurer make too much profit?

Insurance is a risky business, so the idea of an insurer making too much profit seems a bit harsh. Yet some in Australia would disagree, where profit levels on compulsory motor insurance are being hotly debated.

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Does this spell the end for insurance claims?

Aviva have a new system called Ask it Never, designed to eliminate the need to ask customers any questions when giving them a quote. The list of implications is impressive!

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Could this be the Achilles Heel of Insurance Fraud?

Telling claimants that you’re collecting data to combat fraud, and then using it to optimise claims settlements, could turn out to be the Achilles Heel of insurance fraud.

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