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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.
50 posts
Underwriting
Underwriting • 2 min read

The Clash of Narratives in Life and Health Insurance

There are two narratives becoming established around life and health underwriting, and they don’t fit well together. What they point to is an uncertain future for how rating will evolve. Insurance is a risk business, yet could this uncertainty be perhaps the biggest risk of them all?…
Duncan Minty
Duncan Minty •
Underwriting • 6 min read

The Social Scoring Ban – Confusion for Insurers

Should insurers feel reassured by EU guidance about the prohibition on social scoring in the AI Act? It would be easy for them to think that way. The problem is that the guidance has some flawed assumptions about insurance. When those are corrected, the prohibition should be taken very seriously.…
Duncan Minty
Duncan Minty •
Underwriting • 9 min read

The EU’s Social Scoring Ban – What Does It Mean?

The EU’s AI Act prohibits social scoring. Insurers need to carefully weigh up the implications of this ban, for a lot of new digital insurance practices bear a remarkable resemblance to it. The ban was never meant to put pressure on modern insurance practices, but will that protect insurers.…
Duncan Minty
Duncan Minty •
Claims • 5 min read

What Claims Acceptance Rates Tell Us

If you bought a type of policy that on average had one third of all claims rejected, and one in seven claimants complained, what would you think? And if you’re selling it, what would you think? I often hear insurers say that they ‘want to pay claims’. So why are so many claims being rejected?…
Duncan Minty
Duncan Minty •
Underwriting • 3 min read

Risk Variables Are On Their Way Out

Underwriters have relied on risk variables for a very long time. After all, how would insurance work without them! Yet is their unique status on its way out? When motor insurers use 1000+ rating factors, what does this say about how insurance is now priced? More than just on risk, clearly.…
Duncan Minty
Duncan Minty •
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 •
Marketing • 3 min read

Invisible Insurance - The Next Big Thing?

Embedded insurance comes in three forms: soft, hard and invisible. Each comes with ethical implications, but none more so than invisible embedded. What does it mean to provide consumers with invisible insurance? Is it the future of distribution, or a disaster in the making? I explore it here.…
Duncan Minty
Duncan Minty •
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