Open AccessSocial media as a factor in personal injury underwriting: risk, rate and regulation
Author(s) -
Harold Weston,
Brenda Wells
Publication year - 2020
Publication title -
journal of insurance regulation
Language(s) - English
Resource type - Journals
ISSN - 0736-248X
DOI - 10.52227/22019.2020
Subject(s) - underwriting , social media , business , advertising , risk factor , actuarial science , political science , medicine , law
In this study, the authors analyze the rise of social media claims and how such consumer usage of social media and other types of data might be analyzed to ascertain predictive and appropriate rate factors. Rates must be based on approved rate factors, which must correlate with the risk, be predictive of losses, and not be unfairly discriminatory.