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Fairness

The most complex and influential ethical issue in today's insurance. Insurers need to be clear in their thinking on fairness, for it's going to be receiving a lot of attention over the next few years.
85 posts
Fairness
The Tectonic Plates of Insurance Have Just Moved public
Discrimination • 3 min read

The Tectonic Plates of Insurance Have Just Moved

A US federal court has ruled on a long standing and hugely important case for property insurers. It pushed back insurers’ treasured ‘right to underwrite’ and the status of ‘objective actuarial data’. As I predicted 2 years ago, the tectonic plates for what is fair in insurance have just been moved.…
Duncan Minty
Duncan Minty •
More Political Scrutiny of Insurance Pricing public
Underwriting • 3 min read

More Political Scrutiny of Insurance Pricing

The Treasury Committee’s session yesterday on insurance saw consumer groups, insurers and the regulator have their say on pricing in motor and home markets. Nothing revealing emerged, but what was clear was that pressure on the sector to be more transparent is about to rise again.…
Duncan Minty
Duncan Minty •
Building Fairness Feedback Loops into AI Systems public
Fairness • 3 min read

Building Fairness Feedback Loops into AI Systems

We are hearing a lot about AI ethics at the moment. It’s important, but still only one aspect of the situation. Another aspect would be the use of AI to facilitate more ethical decisions. By this, I don’t mean on a system wide basis, but in micro decision scenarios. It’s an idea worth exploring.…
Duncan Minty
Duncan Minty •
Synthetic Data - 3 Things Insurers Need to Understand public
Data Ethics • 5 min read

Synthetic Data - 3 Things Insurers Need to Understand

The data that fuels a digital strategy can be incomplete, expensive or biased. One way to overcome this is through synthetic data. As margins from existing datasets narrow, more and more insurers will turn to it. So what sort of ethical questions are associated with it?…
Duncan Minty
Duncan Minty •
Should Minimum Insurance be Mandated to boost Resilience public
Personalisation • 6 min read

Should Minimum Insurance be Mandated to boost Resilience

The financial resilience of UK society is widely seen to be declining. People are caught between the trend in finance to take more responsibility for personal risks and the increasingly granular pricing of those risks. Is the solution to be found in some form of mandatory minimum insurance cover?…
Duncan Minty
Duncan Minty •
Fairness as a Service : a Step Forward for Insurers public
Fairness • 8 min read

Fairness as a Service : a Step Forward for Insurers

A data and analytics provider to the insurance sector has launched fairness as a service. It’s orientated around the US requirement that insurers do not unfairly discriminate. It’s the sort of service that a recent UK Gov. report called for. I examine how it works and what it points to.…
Duncan Minty
Duncan Minty •
Tensions Around Insurance and Mental Health Apps public
Underwriting • 6 min read

Tensions Around Insurance and Mental Health Apps

The insurance sector is interested in mental health. Support for their employees and those of clients is part of this. There’s also an underwriting interest in how mental health presents. There are tensions around these two things though, with important ethical questions needing to be addressed.…
Duncan Minty
Duncan Minty •
Fairness, Digital and Target Markets public
Regulation • 4 min read

Fairness, Digital and Target Markets

Target markets are now a key feature of product governance. The problem is that they take shape on two levels. There’s the generic version for the regulator, and the decision systems one for consumers. In this gap can be found some of the key challenges being put to insurers.…
Duncan Minty
Duncan Minty •
Why This Approach to AI, Insurance and Regulation is Flawed public
Data Ethics • 8 min read

Why This Approach to AI, Insurance and Regulation is Flawed

A leading insurance institution has set out its views on how insurers’ use of AI should be regulated. Their aim is to give insurers a ‘right to innovate’. Their case is cleverly constructed, but underlying it are some flawed interpretations. I critique the report and offer a more realistic view.…
Duncan Minty
Duncan Minty •
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