Summary
The article “Digital Responsibility And The Role of Actuaries” covers three topics in insurance: big-data analytics, digital ethics, and the role of actuaries in the digital age.
People have ‘gone digital’. Even the most reluctant did it out of curiosity or need. Various apps are essential for keeping in touch. You can hold meetings online, have virtual drinks parties, and chat with family and friends. Online shopping has never been more popular, and instead of eating out people are ordering takeaway using apps installed on their mobile phones.
Working from home has also become the new norm for many organizations, it’s no different for insurance companies and brokers. Many of them have closed their physical offices and are now communicating digitally with their customers during the outbreak. And of course, the debate about data and digital ethics is very topical in this challenging time.
To stop the spread of COVID-19, public health authorities must identify, track and isolate citizens who may be exposed to the virus. This led to a debate around “social surveillance” and how far governments should go, without becoming a “Big Brother is watching you” company. Indeed, contact tracing can certainly save lives, but it can also have a direct impact on people’s civil rights and privacy. So to protect these rights, this type of information must be handled responsibly.
All of these lead to the importance of digital liability in insurance, and this has three main chapters that must be touched upon:
- Big data in the field of insurance and its analysis.
- Digital ethics in the field of insurance and pensions.
- The role of actuaries in the digital age.