Within the actuarial and insurance industries, there has been much discussion and effort aimed toward rethinking whether processes involved in the development and management of life and other insurance products are fair. Regulators, actuaries, other insurance industry professionals, academics, consumers, advocates, and others have varying perspectives on concepts of fairness in this context—sometimes widely varying perspectives.
One thing is clear: defining fairness for life insurance processes is complex and challenging as well as subjective. This webcast will be a discussion of the challenges and opportunities presented as our profession rethinks fairness in the context of processes involved in developing and managing life insurance, especially risk classification—a discussion of the SOA Research Institute paper: https://www.soa.org/resources/research-reports/2023/fairness-metrics-life-insurance/.