The Discriminating (Pricing) Actuary
نویسندگان
چکیده
The insurance industry is built on risk classification, grouping insureds into homogeneous classes. Through actions such as underwriting, pricing, and so forth, it differentiates, or discriminates, among insureds. Actuaries have responsibility for pricing transfers are intimately involved in other aspects of company a keen interest whether not discrimination appropriate from both societal viewpoints. This article reviews social economic principles that can be used to assess the appropriateness discrimination. Discrimination issues vary by line business country legal jurisdiction. examines vantage specific jurisdiction; these points provide insights principles. To sharpen understanding principles, this also describes considerations prohibitions based diagnosis COVID-19, pandemic swept globe 2020.Insurance been an important topic decades evolving part due insurers’ extensive use Big Data; is, increasing capacity computational abilities computers, availability new innovative sources data, advanced algorithms detect patterns activities were previously unknown. On one hand, fundamental changed with think credit-based scoring price optimization simply forerunners movement. regarding privacy algorithmic proxies take increased importance data evolve.
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ژورنال
عنوان ژورنال: The North American Actuarial Journal
سال: 2021
ISSN: ['2325-0453', '1092-0277']
DOI: https://doi.org/10.1080/10920277.2021.1951296