Players, Principles and Paradigm Busters (LOMA Resource)
Insurance is a complex business comprised of lots of moving pieces. Here’s a peek at who wants in the game, what the rules are, who wants to change them—and more.
Why ‘Big Data’ Will Force Insurance Companies to Think Hard About Race
The controversy surrounding the political consulting firm Cambridge Analytica’s use of personal data harvested from social media accounts without the users’ permission is among the first of what likely will be a long series of public debates about how the use of “big data” can shape our lives. And one of the most obvious battlegrounds where we should expect such fights to play out soon is in the insurance industry.
Consumers, Insurers and Genetic Information
The United Kingdom may have come up with a good, practical compromise.
Industry Directions: Our Annual Forecast (LOMA Resource)
Life insurance companies continue to recalibrate in the face of new regulations, evolving technologies and customer expectations, and more. Of great concern are new regulations, with the (currently delayed) Department of Labor’s fiduciary rule taking center stage. Another year of low interest rates is placing pressure on profitability. Finally, insurers have no idea how tax reform, on which Congress was working at press time, might affect life insurance and retirement products that currently are tax advantaged.
Big Data Sharing and Predictive Modeling: 5 Things for Regulators to Consider
The U.S. market is ready to realize this potential from these expansive technologies and networks but a regulatory pathway needs to be established to safeguard adherence to our core insurance principles and an individual’s right of privacy.
Genetic Testing and the Power of Knowledge
Genetic information is treated exceptionally carefully but the growing use of predictive tests by consumers raises concern that the results could influence their approach to life insurance.
Genetics and Life Insurance - A View into the Microscope of Regulation
The use of genetic information for life, disability, critical illness and long-term care insurance is likely to increase in relevance. This report represents an attempt to understand key aspects of genetics, as well as limitations and controversies of its utilization in life insurance.
State Regulators Eye Life Accelerated Underwriting Programs
An arm of the National Association of Insurance Commissioners is starting to talk about use of accelerated underwriting in the U.S. life insurance sales process.
New Report Finds Health Wearable Devices Pose New Consumer and Privacy Risks
Personal health wearable devices used to monitor heart rates, sleep patterns, calories, and even stress levels raise new privacy and security risks, according to a report released today by researchers at American University and the Center for Digital Democracy.
From Insurance to Surveillance: Experts Debate Privacy in the Age of Big Data
Big Data is scary. That's the one thing that four people from very different professions agreed on during a panel at a Kenyon College political-science conference about technology's impact on privacy in the 21st century.