The ‘Internet of Things’ (IoT) refers to the billions of physical devices around the world that are currently connected to the internet. How can insurance companies utilise IoT to help better assess risk and enhance customer experience?
Actuaries use data for good. So, how can actuaries help address issues of insurance discrimination? At the 2022 All-Actuaries Summit, Dr Fei Huang presented joint work with Xi Xin on the topic of anti-discrimination insurance pricing.
The ever-developing presence of artificial intelligence and automation is changing the landscape of underwriting. At the 2022 All-Actuaries Summit, Carmel Twist and Kirsten Flynn delved into the innovation and developments in underwriting, and the flow-on effects these have for the actuarial profession.
In early-2022, UK Health Secretary, Sajid Javid, put the topics of selection, sample and measurement bias in life and health insurance under the microscope by announcing an investigation into a potential bias in oximeters. Specifically, whether bias was a contributing factor to worse outcomes for ethnic minorities during the COVID-19 pandemic. While, on the face of it, this is an isolated incident, it is actually more commonplace than you may think.
Posted 24 August 2021
