Developing non-life insurance pricing models under the GDPR

The recent increase in the amount of data generated, stored and analysed by insurers to establish their pricing and underwriting policies has led to the emergence of new needs both from a regulatory point of view, with the recent implementation of the European framework of the General Data Protection Regulation (GDPR) and with a view to offering new services on the market (cyber risk).

Milliman consultant Thomas Poinsignon recently explore the development and analysis of actuarial methods within the default security framework—a principle of the GDPR imposed on companies using personal data.

The objective is to extend the elementary mathematical concepts and models used when developing classic non-life insurance pricing models (simple linear regression and generalised linear models) to their use on secure data in accordance with regulatory requirements.

To learn more, read Thomas’s paper, entitled ‘Research on non-life pricing procedures on encrypted and anonymous data under the GDPR.’

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