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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.
165 posts
Underwriting
Grim Findings for Insurers’ Digital Strategies public
Data Ethics • 4 min read

Grim Findings for Insurers’ Digital Strategies

A survey by Policygenius about insurance and technology has found that more than 6 in 10 US consumers would not install data-sharing devices for any discount amount. Where does this leave the sector’s proponents of ‘ecospheres of prevention’ and usage based insurance? I explore the implications.…
Duncan Minty
Duncan Minty •
Challenges Emerge for Insurance and Wellness Products public
Underwriting • 4 min read

Challenges Emerge for Insurance and Wellness Products

‘Moving beyond insurance’ is a popular digital trend across many markets. Why just deal with losses when you can prevent claims, goes the narrative. Yet one regulatory move means insurers will soon have to design and sell their cover / wellness combination with great care.…
Duncan Minty
Duncan Minty •
Has Flood Re worked? public
Personalisation • 7 min read

Has Flood Re worked?

Has Flood Re worked? And if so, who is it working for the most? A Bank of England study addresses these questions, but with presumptions and interpretations that are open to challenge. This highlights why the policy landscape for flood insurance needs more diversified debate.…
Duncan Minty
Duncan Minty •
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 •
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