Date:
Friday, June 7, 2024
Time:
9:45 am
Room:
Phoenix Ballroom A
Speakers:
Bias vs. Unfair Discrimination: The difference is more than perception
Date:
Friday, June 7, 2024
Time:
10:10 am
Summary:
The terms “Bias” and “Unfair” have become almost synonymous, but that is not always the case. This session opens the discussion on the ethics of fair vs. unfair discrimination which is the basis for pricing insurance. We have an principle obligation to understand the loss per exposure, which includes understanding when data is or is not representative of that exposure. We’ll walk through a couple of cases to spark that conversation.