Work

Non-discriminatory insurance pricing

Year: 2020

Type: book

Abstract: A simple formula for non-discriminatory insurance pricing is introduced. This formula is based on the assumption that certain individual (discriminatory) policyholder information is not allowed to be used for insurance pricing. The suggested procedure can be summarized as follows: First, we construct a price that is based on all available information, including discriminatory information. Thereafter, we average out the effect of discriminatory information. This averaging out is done such that discriminatory information can also not be inferred from the remaining non-discriminatory one, thus, neither allowing for direct nor for indirect discrimination.

Source: City Research Online (City University London)

Authors: Lindholm, M., Richman, R., Tsanakas, A., Wüthrich, M. V.

Institution: City, University of London

Language: English

Topic: Insurance and Financial Risk Management

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Reduced inequalities

Open Access status: green

OpenAlex ID: W3002947558

FWCI:

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Related to: 10