Defining Discrimination and Quantifying Disparate Impact in Insurance

For our April Pinnacle APEX Webinar, Principal and Consulting Actuary Derek Freihaut, Director and Consulting Actuary Greg Fears and Consulting Actuary Nick Gurgone will discuss the topic of risk distribution, quantifying a risk distribution metric, and the expected adverse deviation (EAD) method. Derek, Greg and Nick will discuss how risk distribution is needed for a transaction to qualify as insurance which remains an issue for the insurance industry. The team will also provide case study examples with lessons learned from applying EAD for hundreds of new captive insurance companies.

Senior Consulting Actuary Darcie Truttmann, Consulting Actuary Andrew Krieger, and Managing Principal Joseph Herbers will take a deep look into the state of the market for both personal auto liability and auto physical damage. Darcie, Andrew, and Joe will discuss different factors that are increasing costs and rates for both as well as explore the trends that are currently being observed in the market.

Pinnacle Senior Consulting Actuaries Gary Wang and Michael Chen will introduce issues and terminology surrounding industry debate on fairness in insurance and provide 2024 updates on the current state of discussions and debate. In addition, Gary and Michael will explore and offer observations on Bayesian Improved First Name Surname Geocoding (BIFSG), the considerations around imputing race information and measuring or mitigating potential discriminatory effects in insurance models.