Insurance Bodies Clash Over Big Data Concerns

Law360, London (October 24, 2019, 2:32 PM BST) -- The debate over the use of big data in insurance pricing has taken a step up to the international level, as a federation of insurance trade bodies warned that a regulatory paper lacks evidence.

The Brussels-based Global Federation of Insurance Associations on Wednesday issued a formal response to a consultation paper published in September by the International Association of Insurance Supervisors on the use of "big data analytics" by insurers.

The GFIA said the risks outlined in the paper — that the technology could lead to higher pricing for some groups — are lessened rather than exacerbated by the use of big...

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