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.
37 posts
Ethical Risks
Forced Transparency – the Challenge facing Insurers public
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
How to Waiver a Conflict of Interest public
Conflicts of Interest 2 min read

How to Waiver a Conflict of Interest

Conflicts of interest are widespread across insurance. Many of them are too fundamental to be eliminated, but they still need to be managed. There may be occasions when one way to manage the conflict of interest is simply to accept it. So what conditions should apply to such situations?…
Duncan Minty
Duncan Minty
Telematics + In-Car Sensing = Unique Ethical Issues public
Data Ethics 7 min read

Telematics + In-Car Sensing = Unique Ethical Issues

Telematics and in-car sensors create huge amounts of data that can be used to gauge all sorts of things about the people in the car. Emotional AI is part of this, offering lots of potential, but also some highly emotive risks. I look at the key themes that insurers need to have on their radars.…
Duncan Minty
Duncan Minty
Are You Tracking Conflicts of Interest Properly? public
Conflicts of Interest 5 min read

Are You Tracking Conflicts of Interest Properly?

Conflicts of interest are everywhere in insurance. There isn’t a part of the market where their influence is not significant. Yet they come in many different forms. This makes it important to track them properly, to understand concentrations, recognise trends and monitor mitigation outcomes.…
Duncan Minty
Duncan Minty
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
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