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

Discrimination • 11 min read

The Implications of the ‘Ethnicity Penalty’ for UK Insurance

Over the last seven years, I’ve warned UK insurers to expect a serious challenge on the issue of discrimination in their collection and analysis of customer data. Now that challenge has arrived. In this analysis piece, I examine the challenge and explore its implications.…

Duncan Minty • 24 Mar 2022

Why the Pricing Ban will soon be Irrelevant. And What this Tells Us about the Future of Pricing

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Underwriting • 12 min read

Why the Pricing Ban will soon be Irrelevant. And What this Tells Us about the Future of Pricing

When the UK regulator’s review of personal lines pricing was nearing its conclusion, I said that it was just the end of the beginning. While the super-complaint addressed an important issue, it was missing a more fundamental one. I examine how this is emerging and what insurers need to weigh up.…

Duncan Minty • 10 Mar 2022

Underwriting • 2 min read

How climate change will change the structure of insurance markets

Nature carried an article recently about climate change impact and the structure of insurance. Its key points were that risk pooling is a vital tool for mitigating that impact, and that insurers need to adapt to being part of a multi-stakeholder solution.…

Duncan Minty • 07 Mar 2022

Underwriting • 3 min read

FCA questioned on Financial Inclusion

The UK regulator shared its thinking on financial inclusion with Parliament’s Treasury Committee recently. It was clear that they recognised the issue, but also that they didn’t understand, in terms of insurance, what was behind it.…

Duncan Minty • 02 Mar 2022

Underwriting • 4 min read

Are Expectations for Automated Underwriting Realistic?

A Swiss Re executive wrote an interesting article this month on the automation of life and health underwriting. The article sets out the expectations firms like Swiss Re have for automation, but is surprisingly quiet on the hurdles it still needs to address for those expectations to be realised.…

Duncan Minty • 23 Feb 2022

The Ethics of Location Data and the Implications for Insurers

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Data Ethics • 5 min read

The Ethics of Location Data and the Implications for Insurers

The ethics of location data is something the UK Government is taking an interest in. It’s just published the results of a detailed study into public attitudes to how location data is collected and used. So what does this mean for insurers? I explore that here.…

Duncan Minty • 10 Feb 2022

Explaining the Fairness of a Particular Rating Factor

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Fairness • 7 min read

Explaining the Fairness of a Particular Rating Factor

How would you explain the fairness of using a particular rating factor? You can’t rely on just statistics anymore. While the super-complaint tied fairness to the overall premium, now long running challenges to certain rating factors are re-emerging. Underwriters need to prepare for this.…

Duncan Minty • 10 Feb 2022

Personalisation • 2 min read

Life and Motor Underwriting Start to Converge

Policyholders of US insurer John Hancock who have an Allstate Drivewise policy can now earn Vitality points on their life insurance for safe driving. It works in a rather analogue way at the moment, but it confirms a trend towards how you drive influencing the price and scope of your life cover.…

Duncan Minty • 31 Jan 2022

Ethics and the Digital Transformation of Medical Underwriting

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Underwriting • 19 min read

Ethics and the Digital Transformation of Medical Underwriting

The transformation underway in medical underwriting presents both opportunities and risks. How the ethical risks are handled will either build public confidence or stall the transformation. My analysis looks at the key issues and what insurers need to address…

Duncan Minty • 21 Jan 2022