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Underwriting

Underwriting is becoming much more sophisticated. It's a transformation opening up opportunities like never before. It's also encountering challenges like never before, and as we saw with price walking, the impact can be immense. These posts give you an independent perspective on such developments.
162 posts
Underwriting
Can Insurers Overturn the ‘Right to be Forgotten’? public
Regulation • 3 min read

Can Insurers Overturn the ‘Right to be Forgotten’?

Insurers in Europe are challenging the EU’s proposals for people who survive cancer to have a ‘right to be forgotten’. At the heart of this dispute are two issues for insurers – the fairness of their underwriting, and the scope of their ‘right to know’. It’s part of a wider data ethics situation.…
Duncan Minty
Duncan Minty •
Credit Scores – could they turn toxic for insurers? public
Underwriting • 9 min read

Credit Scores – could they turn toxic for insurers?

The use of credit scores in insurance is contentious. Opinion has been divided over whether their use is fair or not. I say ‘has been’, for I’ve recently heard underwriters raise doubts. So should insurers prepare for change? And what might that change look like? I explore both questions here.…
Duncan Minty
Duncan Minty •
More Regulatory Scrutiny of Pricing Practices public
Underwriting • 9 min read

More Regulatory Scrutiny of Pricing Practices

EIOPA is about to close a consultation on non-life differential pricing. While we wait for the results, it’s worth examining how the consultation is framed and what that might mean for UK insurers. Will the FCA use it for a ‘Pricing Review Two’? There’s certain unresolved issues to be addressed.…
Duncan Minty
Duncan Minty •
Fairness • 3 min read

Financial Inclusion – a small but significant step

The influential Treasury Committee has recommended that the UK insurance regulator be put under a ‘have regard’ obligation for financial inclusion when it makes rules. It would be a small yet significant step towards addressing financial inclusion, were the Treasury to accept the recommendation.…
Duncan Minty
Duncan Minty •
Whose data should an insurer trust? public
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 •
Bias in the Pricing of Italian Motor Insurance public
Underwriting • 2 min read

Bias in the Pricing of Italian Motor Insurance

The UK is not the only country in which concerns are being raised about the fairness of insurance pricing. A recent analysis of the Italian motor market points to problems there. The researchers found issues around ethnicity, plus something interesting on gender.…
Duncan Minty
Duncan Minty •
Moving from Healthcare Data to Lifestyle Data public
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 •
Is Adverse Selection being Replaced by Inverse Selection? public
Underwriting • 4 min read

Is Adverse Selection being Replaced by Inverse Selection?

Insurers have long been concerned about adverse selection. They see today’s data and analytics as helping them reduce their exposure to it. Yet that explosion of data and analytics could not just reduce adverse selection, but flip it over, creating what is being called inverse selection.…
Duncan Minty
Duncan Minty •
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