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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.
64 posts
Data Ethics
Data Ethics • 5 min read

Avoiding Pitfalls when Developing Data Ethics Principles

As business wakes up to the ethical issues around how they use data and analytics, firms are being urged to develop ethical principles to guide their data ethics initiatives. Yet what counts as an ethical principle? I look at an example of how firms could get off to the wrong start.…
Duncan Minty
Duncan Minty •
Fairness • 4 min read

Revolutionising Fairness to Enable Digital Insurance

The digital transformation of insurance will stall unless the “dominant theme of 21st century financial services” is resolved first. That ‘dominant theme’ is fairness. If fairness isn’t addressed, digital investment will be questioned as public confidence in what they experience diminishes.…
Duncan Minty
Duncan Minty •
Data Ethics • 7 min read

A Big Red Flag has been attached to Emotional AI

The UK’s data protection regulator has raised a big red flag over the use of emotional AI. Not only do such systems fail to meet data protection requirements, but they also come with other serious ethical issues. So what does this mean for insurers, and how should they respond?…
Duncan Minty
Duncan Minty •
Autonomy • 6 min read

Why Insurers Need to Respect Customer Autonomy

Autonomy is both simple and complex, ephemeral yet ever present. It’s rarely invoked in an insurance context outside of self-driving vehicles. Yet it’s an ethical issue that is becoming central to the debate on how insurance is to be priced. Insurers need to understand it to be part of that debate.…
Duncan Minty
Duncan Minty •
Data Ethics • 5 min read

Assessing the Risk from Algorithm Destruction

We’ve seen a couple of cases now in which firms have been told by regulators to destroy not only the data they shouldn’t have been using, but also the algorithms and models that had been trained on that data. So are insurers at risk from this too, and if so, how can they begin to assess it?…
Duncan Minty
Duncan Minty •
Data Ethics • 3 min read

Whose data should an insurer trust?

Whose data should an insurer trust? Data provided by consumers, or data supplied by the insurer’s data broker? A prominent data broker to the UK market is saying that their data is accurate and can be trusted; and that the same cannot be said of data provided by the consumer. Are they correct?…
Duncan Minty
Duncan Minty •
Underwriting • 3 min read

Moving from Healthcare Data to Lifestyle Data

With the EU proposing to ban the secondary use of electronic health data for insurance purposes, the sector was always going to be looking for other ways to rate life and health risk. And a recent paper by an executive at Swiss Re illustrates gives some insight into how this is being addressed.…
Duncan Minty
Duncan Minty •
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