A: There is no easy answer. The risk premium, aimed at covering claims cost should increase. However, the remaining part of the premium to account for expenses including acquisition, operating and regulatory costs. would be a function of various factors. [2/2] #AskTheActuary
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GIG WORKERS: WHO ARE THEY AND HOW THEIR INSURANCE NEEDS ARE DIFFERENT? Read the full article here: https://www.fidentiax.com/insuranceblog/2019/5/31/gig-workers-who-are-they-and-how-their-insurance-needs-are-different … #insurtech #gigeconomy #freelancer #insurance #needs #uber #grab #gojek #lyft #economypic.twitter.com/u0HOfWsHrR
A: I think with health telematics, they would be able to price premiums “better”. That is, the premiums would be a better reflection of underlying risk implying those at higher risk might pay higher than the current levels & vice versa [2/2] #AskTheActuary #InsurTech #Blockchain
Q: Generally, if we choose to share our health data, what is the % discount will we receive on the premiums? [Devin] A: From what I have seen, it generally ranges from 8%-20% p.a. However, this should evolve as insurance companies collect more data and analyze their experience.
A: There is nothing like zero fraud. However, in P2P the pool generally comprises of friends and families and is built through referral mechanism. So if you know that your friend is going to pay for your claim, chances are you would only claim for legitimate instances! [2/2]
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