Data Profiling and Insurance Law

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The winner of the 2020 British Insurance Law Association Book Prize, this timely, expertly written book looks at the legal impact that the use of Big Data will have on the provision and substantive law of insurance. Insurance companies are set to become some of the biggest consumers of big data which will enable them to profile prospective individual insureds at an increasingly granular level. More particularly, the book explores how: (i) insurers gain access to information relevant to assessing risk and/or the pricing of premiums; (ii) the impact which that increased information will have on substantive insurance law (and in particular duties of good faith disclosure and fair presentation of risk); and (iii) the impact that insurers new knowledge may have on individual and group access to insurance. This raises several consequential legal questions: (i) To what extent is the use of big data analytics to profile risk compatible (at least in the EU) with the General Data Protection Regulation (ii) Does insurers ability to parse vast quantities of individual data about insureds invert the information asymmetry that has historically existed between insured and insurer such as to breathe life into insurers duty of good faith disclosure And (iii) by what means might legal challenges be brought against insurers both in relation to the use of big data and the consequences it may have on access to cover Written by a leading expert in the field, this book will both stimulate further debate and operate as a reference text for academics and practitioners who are faced with emerging legal problems arising from the increasing opportunities that big data offers to the insurance industry.

Reviews

From academics to insurance lawyers, readers will appreciate the detailed and thorough examination and analysis in this monograph, of what is developing into a very complex subject. * Elizabeth Robson Taylor and Phillip Taylor MBE, Richmond Green Chambers *
[T]his book is not only timely, it is very relevant to any consideration of the transformation of the insurance industry and of insurance practice. The book is a first-class reference text and an invaluable resource for academics, insurers, practitioners and policymakers when considering or addressing the opportunities, challenges and problems associated with big data and insurance law. -- Professor Julie-Anne Tarr, Queensland University of Technology * Insurance Law Journal *

Author Bio

Brendan McGurk is a Barrister at Monckton Chambers.