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Discrimination

Discrimination is developing at speed as the No 1 ethical risk for a typical insurer. What every insurer needs to be assembling is the evidence of how they are managing discrimination in relation to their deals with customers across all business functions. Has the reporting got the right scope and depth? Is it based upon the right perspective? The articles will help a lot.
16 posts
Discrimination
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 •
Discrimination • 4 min read

Why Secondary Data Could Turn Toxic for Insurers

Digital innovations are helping the sector break new ground in how policies are underwritten. The problem is that some practices could be landing insurers outside of the law. This is not bias in data or analytics. This is ill advised decisions around the strategic use of secondary data.…
Duncan Minty
Duncan Minty •
Data Ethics • 3 min read

Forced Transparency – the Challenge facing Insurers

2024 will see several challenges that the insurance sector is facing come to a head. Out of this will emerge a period of forced transparency, in which certain working practices are opened up to scrutiny. How insurers prepare for this is crucial for customers, investors and regulators.…
Duncan Minty
Duncan Minty •
Data Ethics • 4 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 •
Privacy • 3 min read

The Risks Insurers Run as Buyers of Secondary Data

A technology activist has released a huge file of segmentation data into the public domain. It shows the extent to which data brokers are scraping data and selling it for “identities”. As significant users of secondary data, insurers need to take great care managing exposures like this.…
Duncan Minty
Duncan Minty •
Accountability • 3 min read

Why Insurers must Manage their Ethical Debt

Many digital decision systems deployed in insurance carry unknown levels of ethical debt. Over the next 3 to 5 years, a lot of that ethical debt will need to be repaid. In some circumstances, the amount could be very substantial. So what should insurers do now to prepare for this?…
Duncan Minty
Duncan Minty •
Discrimination • 8 min read

Discriminatory Pricing – the Storm Clouds Move Nearer

Further research into discriminatory pricing in UK motor insurance is keeping up pressure on insurers and the regulator to tackle the issue. And with signs that the challenge is evolving, insurers are in danger of failing to see how this issue will grow and impact the heart of their businesses.…
Duncan Minty
Duncan Minty •
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