Is personalisation the future of insurance? Only if it’s shaped to delivery the fairness and trust that the public expect. My recent speech at the University of Bologna.
(read more)November 24, 2021
A Complete List of All Posts
Insurers who use the ‘three lines of ethical expertise’ approach will be better prepared to deal with the big issues coming over the horizon. This is not about defence, but about engagement.
(read more)November 4, 2021
As insurers prepare their plans for 2022, here are six areas whose ethical side need to be paid close attention to. It will be an important year for making progress
(read more)October 14, 2021
The sector’s focus on fairness of merit doesn’t reflect the real world. People often make decisions quite differently. Time then to pay attention to the fairness of crowds.
(read more)September 28, 2021
Most insurers think that personalisation will drive up the competitiveness of premiums. I challenge that view and examine signs that point to the opposite happening.
(read more)September 7, 2021
A range of recent developments have now positioned counter fraud as a big reputational exposure for UK insurers. Each firm should now prepare their evidence for where they stand.
(read more)August 31, 2021
The UK regulator is signalling a step change in its regulatory approach. The implications for decisions across the insurance sector will be profound.
(read more)July 21, 2021
Embedded insurance is a form of hyper-personalisation that is attracting a lot of attention in insurance circles just now. It also raises some significant ethical concerns.
(read more)July 13, 2021
Hyper-personalisation is the big emerging trend in insurance, yet it exposes the sector to serious reputational risk that insurers must take steps to recognise.
(read more)June 29, 2021
Conflicts of interest are insurers’ biggest ethical risk. And being ever present, they need ongoing attention. Here are some checks that you should be making.
(read more)June 17, 2021
The decisions and assumptions built into insurers’ use of emotional AI and biometric categorisation could be opened up for further questioning by new regulations.
(read more)May 26, 2021
Tackling insurance fraud is ethical. How you go about that should also be ethical. Yet are some insurers going too far with data about convictions?
(read more)May 11, 2021
Ethics training has for too long be arranged on a ‘push’ rather than a ‘pull’ basis. This needs to change, and these five types of insurance people need to lead that change.
(read more)May 5, 2021
Open insurance may be the next big step forward for insurance, but it will struggle to succeed unless a variety of ethical issues are addressed.
(read more)April 21, 2021
Insurance supply chains can be a breeding ground for unethical behaviour. Here are four reasons why this happens, and five ways in which it can be addressed.
(read more)March 31, 2021
The ethical risk that settlement walking represents is very real and far greater than price walking. Insurers need to evidence their position on it.
(read more)March 18, 2021
Fairness in insurance has four dimensions. How they come together and interact is called equality of fairness. This will shape the future of insurance.
(read more)March 3, 2021
Data enrichment is a big thing in insurance at the moment, yet it needs to be thought of more critically. Its ethical credentials are weak, and coming under increasing challenge.
(read more)February 16, 2021
Insurers understand bias in data, but need to be on top of bias in analytics as well. Organising their response around these five sources will make help a lot.
(read more)February 3, 2021
Two rulings should set warning lights flashing for many a digital strategy in insurance. Insurers need to think carefully about their implications, for there are signs that others are.
(read more)January 19, 2021
The big ethical challenge for insurers in 2021 will be to learn the lessons from events in 2020 and to apply them systematically across the firm. It will be a bigger task than many insurers think, but those who get it right will reap reputational rewards.
(read more)January 5, 2021
Digital strategies in insurance will be undermined if they don’t build trust in the insurer. I explore why this is so, and present 8 ways in which an insurer should start looking
(read more)December 10, 2020
The rise of individual accountability for insurance executives has highlighted the importance of bridging the gap between ‘thinking about ethics’ and ‘doing ethics’. Ethical decision making is a set of skills designed for that purpose.
(read more)November 18, 2020
A commitment to data ethics will only succeed if the people delivering this transformation of insurance have the right skills. Insurers have a long way to go on this.
(read more)November 11, 2020
Low consumer trust will hamper insurers’ digital strategies and fuel regulatory interventions. A more critical culture and more rigorous data due diligence is needed.
(read more)November 4, 2020
Insurers are going to find that discrimination and access represent the two biggest challenges to their digital strategies. How insurers engage with these issues is critical
(read more)October 21, 2020
The most significant ethical theme that insurers need to address over the next three years is data ethics. Yet it is complex and nuanced, so insurers need to think carefully about how to organise their response.
(read more)October 14, 2020
The UK regulator’s decision to ban ‘price walking’ in general insurance is significant. Yet that significance is wider than simply how policies are priced. I explore those signals so that insurers can start preparing now.
(read more)September 30, 2020
You’d be surprised how codes of ethics vary across the insurance sector. What matters though is whether your firm’s code of ethics is good enough for the ethical challenges it is facing.
(read more)September 21, 2020
As a leading US insurer announces that it will remove credit scores from its pricing by 2025, there’s plenty of evidence that UK insurers need to be subject their use of credit data to serious review.
(read more)September 8, 2020
The recent exam grades debacle in the UK provides insurance people with lessons on what will befall them if current trends in claims practices continue.
(read more)September 1, 2020
Insurance people used to think of pricing as just a market thing. Now they recognise that fairness has to be factored in as well. Yet the ethics of insurance pricing has other dimensions that need to be factored in. If they’re not, the current pricing review will take even longer and become even more tortuous.
(read more)August 18, 2020
The regulator’s new guidance on vulnerability presents insurers with some serious questions to address. Understanding the ethical context from which they emerge will help your firm really get to grip with the issues.
(read more)August 10, 2020
The need for annual or long term insurance policies is being questioned. A new temporality of insurance is emerging, with significant ethical implications.
(read more)July 15, 2020
Cognitive diversity can be hugely influential when it comes to ethics. Views are encouraged, voices heard and challenges met. In such changing times for insurance, this matters
(read more)July 9, 2020
Conflicts of interest are an exponential ethical risk because of the powerful signals they send out about how your firm is managed. This creates all sorts of reputational risks.
(read more)June 24, 2020
Nudging is a concept at the heart of much ‘new thinking’ about insurance. Yet it’s a complex thing and insurers need to take care when using it in the design of new products and services.
(read more)June 15, 2020
We will soon see some big changes to the way in which the use of genetic information by UK insurers is regulated. It will be a different world, and insurers need to start preparing for it now.
(read more)May 26, 2020
A buzz phrase in the insurance market at the moment is ‘ecospheres of prevention’. It sounds like exciting stuff, but it is also replete with questions of ethics and power.
(read more)May 13, 2020
An influential narrative has emerged within insurance in recent years, centred upon the notion of behavioural fairness. It’s a narrative that could determine how insurance evolves over the next decade. The problem is that it’s a narrative with significant flaws.
(read more)April 29, 2020
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