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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
How Innovation and Inclusion in Insurance Can Work Together public
Fairness • 4 min read

How Innovation and Inclusion in Insurance Can Work Together

In recent months, I’ve been working as guest editor for the latest edition of the Institute and Faculty of Actuaries’ Inclusive Insurance Bulletin. It drew together articles that explored innovation from a number of different perspectives, but all oriented around tackling inclusion in insurance.…
Duncan Minty
Duncan Minty •
The Industrialisation of Claims Denials public
Claims • 4 min read

The Industrialisation of Claims Denials

Lemonade made the news recently when it claimed a new record for settling a claim in 2 seconds. Unfortunately, campaigners are reporting that another insurer has built a system that rejects claims in under 2 seconds. Insurers need to think about claims automation more carefully than at present.…
Duncan Minty
Duncan Minty •
Why Data Ethics is at a Crossroads public
Data Ethics • 8 min read

Why Data Ethics is at a Crossroads

Is data ethics working in insurance? Perhaps it’s just at an early stage, needing more time. Or is it always going to struggle to gain traction? Some see ethical guidelines for data and AI as the solution. Others see them as ineffectual. So what’s needed instead? How should a firm decide this?…
Duncan Minty
Duncan Minty •
Right Question ; Wrong People – A Warning on Data Ethics public
Fairness • 4 min read

Right Question ; Wrong People – A Warning on Data Ethics

Insurers are working on ways to ensure that their digital decision systems deliver outputs that are fair and non-discriminatory. In doing so, they find that this involves some difficult choices. Yet how are those choices made? It's important that insurers don't approach them the wrong way round.…
Duncan Minty
Duncan Minty •
Inclusion in L&H markets: Lessons for the UK public
Underwriting • 6 min read

Inclusion in L&H markets: Lessons for the UK

A lot of attention has been given recently to inclusion in the personal lines market, but just as important is inclusion in the life and health market. New research explores this in some detail and uncovers interesting lessons for UK insurers. Why is our market good and bad at different things?…
Duncan Minty
Duncan Minty •
Revolutionising Fairness – the Starting Point public
Fairness • 3 min read

Revolutionising Fairness – the Starting Point

If insurers are to address fairness seriously, they must find a new way of engaging with those challenging them. There are hurdles to be removed first though, including one that I always hear mentioned. Unless dealt with, competition law could put a brake on revolutionising fairness.…
Duncan Minty
Duncan Minty •
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