6 Oct 2020
Big Data & Anti-Discrimination - Lessons from Unisex-Tariffs
Big Data and Machine Learning increase the number of risk factors pricing is based on in insurance, both life and non-life. Since the Court of Justice of the European Union (CJEU) ruling on gender equality in 2011, all tariffs must be priced equally for men and women. Nevertheless, gender is an important and relevant risk factor for many insurance policies. Therefore, the distribution of men and women within the risk classes affects the final gender-equal unisex rates. Unfortunately, the percentage of men and women differs hugely between risk classes. There may even be strong correlations between gender and risk classes. To avoid gender discrimination, a new but simple approach to calculate unisex rates will be presented so that the distribution of men and women in different risk classes does not affect pricing anymore. As all new machine learning and AI-pricing have to comply with EU-Regulation, this may be a solution to meet the regulation and could help minimizing customer prejudice. This may be an example to avoid discrimination even for other risk factors such as nationality.
Organised by the EAA - European Actuarial Academy GmbH.
The web session is open to all interested persons, especially for actuaries in product development and legal department.
Technical requirementsPlease check with your IT department if your firewall and computer settings support web session participation (the programme GotoTraining/GotoWebinar is used for the web session). Please also make sure that you are joining the web session with a stable internet connection.
Purpose and Nature