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Ethical Risks

Ethics is about both opportunity and risk, but to credible on the opportunity side, you need to be addressing the risk side. Understanding ethical risk involves seeing your firm as part of a market, an entity in itself and a collective of people. Bring this together and use it in action plans for risk management, training, governance and communications, for starters.
33 posts
Ethical Risks
The Three Most Read Articles of 2022 public
Trust • 3 min read

The Three Most Read Articles of 2022

With so much happening in insurance at the moment, and with plenty on the horizon, it’s interesting to see which articles were the most read during 2022. The top three show insurance people weighing up some of the significant implications of the digital transformation of insurance.…
Duncan Minty
Duncan Minty •
Why Insurers Need to Respect Customer Autonomy public
Autonomy • 7 min read

Why Insurers Need to Respect Customer Autonomy

Autonomy is both simple and complex, ephemeral yet ever present. It’s rarely invoked in an insurance context outside of self-driving vehicles. Yet it’s an ethical issue that is becoming central to the debate on how insurance is to be priced. Insurers need to understand it to be part of that debate.…
Duncan Minty
Duncan Minty •
Assessing the Risk from Algorithm Destruction public
Data Ethics • 5 min read

Assessing the Risk from Algorithm Destruction

We’ve seen a couple of cases now in which firms have been told by regulators to destroy not only the data they shouldn’t have been using, but also the algorithms and models that had been trained on that data. So are insurers at risk from this too, and if so, how can they begin to assess it?…
Duncan Minty
Duncan Minty •
How to Assess the Biggest Ethical Risk in Insurance public
Ethical Risks • 7 min read

How to Assess the Biggest Ethical Risk in Insurance

At the heart of most ethical issues in insurance is a conflict of interest. It’s always been around and likely always will be. So the question is not whether you have eliminated it, but how you are managing it. This means you’ve got to assess the scope and depth of conflicts of interest properly.…
Duncan Minty
Duncan Minty •
Sentiment Analysis – Treat with Caution public
Data Ethics • 3 min read

Sentiment Analysis – Treat with Caution

The increase in remote working triggered by the pandemic caused Zoom to become a popular tool for holding meetings and speaking with clients. Now Zoom is to allow account holders to carry out sentiment analysis on those they are engaging with. I explore what it means for insurers.…
Duncan Minty
Duncan Minty •
Assessing Ethical Risk - Issue Maturity public
Ethical Risks • 6 min read

Assessing Ethical Risk - Issue Maturity

A thorough assessment of ethical risk will throw up all sorts of things, some of them familiar, some of them new. After identifying your priorities, you then need to address expectations and resources. This toolkit on issue maturity helps you with that.…
Duncan Minty
Duncan Minty •
Using Protected Activities to Manage Reputational Risk public
Ethical Risks • 5 min read

Using Protected Activities to Manage Reputational Risk

Protected activities could be a useful tool for insurers to manage their most significant ethical risks. And they signal to key audiences that the insurer’s commitments around those risks are being taken particularly seriously. So how do they work and how can they make a difference?…
Duncan Minty
Duncan Minty •
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