Building Trust in Analytics: What Role Should Insurers Play?

P&C insurers increasingly rely on sophisticated analytics throughout the insurance product cycle. But as data models grow ever more complex, they’re coming under scrutiny from consumers and regulators. Beyond questions of fairness and financial inclusion, there are growing concerns that hidden biases in insurance data disadvantage certain groups through higher premiums, worse claims outcomes, and poorer service.

In this new white paper, we explore the ethical application of data to ensure fair pricing. And we identify three critical steps to building the level of trust needed to enjoy the enormous benefits analytics promise insurers—and the people they serve.