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"…
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.
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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?…
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.…
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.…
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.…
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.…
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.…
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.…
Admiral is looking for a Data Ethics Analyst
Admiral is looking to recruit a data ethics analyst. It’s a new role, located within their ‘Group Data Protection and Privacy’ function. It’s an opportune moment to create such a role, given the ethical risks that insurers are facing from data and analytics. So what does it involve?…