Advances in genetics and their impact on life insurance

Damjan Vukcevic; Jessica Chen

Advances in genetics and their impact on life insurance

Research output: Chapter in Book/Report/Conference proceeding › Conference Paper › Other

Abstract

As genetic research continues to advance, we see regulators around the world placing bans on the life insurance industry from using predictive genetic information. In this paper, we provide a framework for assessing the extent to which these trends may lead to adverse selection on the life insurance industry.

We begin with the state of global life insurance regulation on the use of predictive genetic tests. By summarising the latest genetic research relevant to life insurance, we highlight how much progress has been made in a single year. We then describe how new emerging predictive genetic tests differ to those currently available. Finally, we suggest how the life insurance industry might respond to any adverse selection and assess the difficulty of implementing those responses and their chances of success.

Original language	English
Title of host publication	Proceedings of Financial Services Forum 2018
Place of Publication	Australia
Publisher	Institute of Actuaries of Australia
Number of pages	29
Publication status	Published - 2018
Externally published	Yes
Event	Financial Services Forum 2018: Natural Selection - Hilton Sydney, Sydney, Australia Duration: 21 May 2018 → 22 May 2018 https://www.actuaries.asn.au/microsites/financial-services-forum-2018

Conference

Conference	Financial Services Forum 2018
Abbreviated title	FSF2018
Country/Territory	Australia
City	Sydney
Period	21/05/18 → 22/05/18
Internet address	https://www.actuaries.asn.au/microsites/financial-services-forum-2018

Access to Document

https://www.actuaries.asn.au/Library/Events/FSF/2018/VukcevicChenPaper.pdf

Cite this

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title = "Advances in genetics and their impact on life insurance",

abstract = "As genetic research continues to advance, we see regulators around the world placing bans on the life insurance industry from using predictive genetic information. In this paper, we provide a framework for assessing the extent to which these trends may lead to adverse selection on the life insurance industry. We begin with the state of global life insurance regulation on the use of predictive genetic tests. By summarising the latest genetic research relevant to life insurance, we highlight how much progress has been made in a single year. We then describe how new emerging predictive genetic tests differ to those currently available. Finally, we suggest how the life insurance industry might respond to any adverse selection and assess the difficulty of implementing those responses and their chances of success.",

author = "Damjan Vukcevic and Jessica Chen",

year = "2018",

language = "English",

booktitle = "Proceedings of Financial Services Forum 2018",

publisher = "Institute of Actuaries of Australia",

note = "Financial Services Forum 2018 : Natural Selection, FSF2018 ; Conference date: 21-05-2018 Through 22-05-2018",

url = "https://www.actuaries.asn.au/microsites/financial-services-forum-2018",

}

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AU - Chen, Jessica

PY - 2018

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N2 - As genetic research continues to advance, we see regulators around the world placing bans on the life insurance industry from using predictive genetic information. In this paper, we provide a framework for assessing the extent to which these trends may lead to adverse selection on the life insurance industry. We begin with the state of global life insurance regulation on the use of predictive genetic tests. By summarising the latest genetic research relevant to life insurance, we highlight how much progress has been made in a single year. We then describe how new emerging predictive genetic tests differ to those currently available. Finally, we suggest how the life insurance industry might respond to any adverse selection and assess the difficulty of implementing those responses and their chances of success.

AB - As genetic research continues to advance, we see regulators around the world placing bans on the life insurance industry from using predictive genetic information. In this paper, we provide a framework for assessing the extent to which these trends may lead to adverse selection on the life insurance industry. We begin with the state of global life insurance regulation on the use of predictive genetic tests. By summarising the latest genetic research relevant to life insurance, we highlight how much progress has been made in a single year. We then describe how new emerging predictive genetic tests differ to those currently available. Finally, we suggest how the life insurance industry might respond to any adverse selection and assess the difficulty of implementing those responses and their chances of success.

M3 - Conference Paper

BT - Proceedings of Financial Services Forum 2018

PB - Institute of Actuaries of Australia

CY - Australia

T2 - Financial Services Forum 2018

Y2 - 21 May 2018 through 22 May 2018

ER -