What is Fair? Addressing Proxy Discrimination and Demographic Disparities in Insurance Pricing
What is a fair price for an insurance policy? Standard actuarial thinking suggests that a fair price is the one that most closely reflects the risk (expected costs) of that policy. This type of actuarial fairness ensures that, within an insurance portfolio, the premiums collected from homogenous groups of policyholders will, on average, match the… Read More »
