“My voice is my password” and similar phrases have begun to be used for secure voice authentication for banks and health insurers and other critical services that require security and privacy. It’s likely that several of your own service providers will roll this out in the next couple of years. Progress, right? The problem is…
After a recent Actuarial Society sessional presentation I gave on micro insurance and the regulatory developments, I was asked why there aren’t more micro insurers operating in South Africa. Here is a slightly paraphrased version of the full question: The larger insurance players seem reluctant to enter the market. Why do you think this market…
In his book, Loss Coverage: Why Insurance Works Better with Some Adverse Selection, Guy Thomas propose an interesting point that adverse selection may not be as harmful as many actuaries believe. They actually go further and suggest that, at least from a policy perspective, adverse selection may be a good thing. This is particularly relevant…
Insurance is misunderstood. Consumers ascribe malice where often practical restrictions are to blame. Take deductibles for example. A deductible in an insurance claim decreases the number of claims an insurer has to deal with. More than that though, it reduces the claims where the administration costs of checking out the claim and paying it are…
