ICA 2018: Actuarial Data Science vs Data Protection – Update
Speaker: Stefan Nörtemann
Due to technological progress in connection with Actuarial Data Science and Digitalization, summarized under the buzzword Big Data, a plethora of opportunities (insurance analytics) & challenges (innovative products) for insurance industry is arising.
Otherwise, there are strict rules for data protection in the European Union. During the ICA 2018, the EU General Data Protection Regulation comes into force. Following this fundamental changes in the data protection rules apply throughout the European Union.
Against this background, there are variegated conflicts such as
- Big Data versus „Data reduction and data economy"
- insurance analytics versus "Prohibition Principles"
- innovative products versus "theright to informational self-determination".
Within the presentation, the new regulations will be presented, critically analyzed and applied to concrete business cases in context of Actuarial Data Science. Based on several case examples the area of conflict between European privacy rules on one side and insurance analytics & the establishment of innovative products on the other one will be inspected.
With regard to the European participants, the topic is not restricted to the German market, but is being prepared at a European level. Likely to be of interest also to non-European participants.Agenda
- Modern times - challenges & opportunities
- Data Protection in insurance industry
- Impact on insurance industry - Business cases in context of Actuarial Data Science
Note: With reference to my presentation at the ECA 2016 and against the background of the technological development and the General Data Protection Regulation, an update is to be made. The changes in privacy rules will be analyzed and new case examples will be inspected.