Data Ethics

With insurance becoming increasingly digital, data ethics has become the key lens through which issues and challenges are emerging. What makes it particularly important is how it is influencing insurance at both the policy and the market levels.

215 posts

Data Ethics • 2 min read

Regulators issue Two Important Papers on Algorithms

The UK’s Digital Regulation Cooperation Forum has just issued two ‘call for input’ papers that insurers should pay attention to. These point to some joint regulatory initiatives ahead. One paper is on the benefits and harms of algorithms, and the other on auditing algorithms.…

Duncan Minty • 04 May 2022

Data Ethics • 1 min read

New Research Project on 'Ethics, Data and Insurance' in Australia

A new multi-year project looking at the implications of "Socially Responsible Insurance in the Age of Artificial Intelligence"…

Duncan Minty • 20 Apr 2022

Controls for Insurers' Use of Social Media Data

public

Underwriting • 5 min read

Controls for Insurers' Use of Social Media Data

Insurers have been interested in social media data for some years now. This caught the public’s eye in 2016 when Admiral launched and then immediately withdrew a motor product influenced by what you did on Facebook. What controls should insurers have, to make sure such situations aren’t repeated?…

Duncan Minty • 11 Apr 2022

Discrimination • 11 min read

The Implications of the ‘Ethnicity Penalty’ for UK Insurance

Over the last seven years, I’ve warned UK insurers to expect a serious challenge on the issue of discrimination in their collection and analysis of customer data. Now that challenge has arrived. In this analysis piece, I examine the challenge and explore its implications.…

Duncan Minty • 24 Mar 2022

Data Ethics • 3 min read

Algorithm Destruction – the Implications for Insurers

A regulatory trend is emerging that could have profound implications for insurers. We’ve seen regulators issue fines for obtaining and using data in ways that fall outside of the rules. Now something much, much more ominous is starting to be used by regulators. It’s called algorithm destruction.…

Duncan Minty • 17 Mar 2022

Data Ethics • 3 min read

Data Ethics or Corporate Digital Responsibility? My thoughts…

Several insurers are addressing the ethical issues associated with their use of data and analytics. This has so far fallen under the heading of ‘data ethics’, but now a new term is arising – corporate digital responsibility. In this ‘comment’ piece, I look at what’s behind this.…

Duncan Minty • 15 Mar 2022

Data Ethics • 5 min read

Data Published on Public Concerns about Location Data

The UK Government’s Geospatial Commission has published statistics in support of its recent survey of public attitudes to how location data is used. I identify four key findings for insurers and highlight a trend that insurers should take note of.…

Duncan Minty • 14 Mar 2022

Underwriting • 4 min read

Are Expectations for Automated Underwriting Realistic?

A Swiss Re executive wrote an interesting article this month on the automation of life and health underwriting. The article sets out the expectations firms like Swiss Re have for automation, but is surprisingly quiet on the hurdles it still needs to address for those expectations to be realised.…

Duncan Minty • 23 Feb 2022

Data Ethics • 2 min read

RGA’s Data and Analytics Ethics Framework

The US reinsurer RGA has recently introduced a Data and Analytics Ethics Framework. It’s worth a look, but with a critical eye, for it seems clear about what the reinsurer wants to address , but unclear about how it’s going to go about doing that.…

Duncan Minty • 23 Feb 2022