Category: General actuarial

AI, Privacy, Racial Bias Among State Insurance Regulator Priorities for 2021

Mary Pat Campbell

Link: https://www.carriermanagement.com/news/2021/02/10/216927.htm

Excerpt:

The NAIC 2021 priorities and the charges to its key committees are (in no specific order):

COVID-19 — In 2021, the NAIC will continue its “Priority One” initiative designed to support state insurance departments in their response to the ongoing pandemic and its impact on consumers and insurance markets. NAIC has a COVID resource page that includes information on actions taken by individual states in response to the COVID 19 pandemic that impact various lines of insurance. NAIC said insurance regulators will continue to analyze data and develop the tools so that consumer protection keeps pace with changes brought on by the virus.

Big Data/Artificial Intelligence — The Big Data and Artificial Intelligence Working Group is chaired by Doug Ommen, Iowa, joined by Elizabeth Kelleher Dwyer, co-vice chair, Rhode Island and Mark Afable, co-vice chair, Wisconsin.

…..

Race & Insurance — The Special Committee on Race and Insurance is co-chaired by Maine Superintendent Eric Cioppa and New York Executive Deputy Superintendent of Insurance My Chi To.

The 2021 agenda for this panel calls for research into the level of diversity and inclusion within the insurance sector; engagement with a broad group of stakeholders on issues related to race, diversity and inclusion in, and access to, the insurance sector and insurance products; and an examination of current practices or barriers in the insurance sector that potentially disadvantage people of color and historically underrepresented groups.

Publication Date: 10 February 2021

Publication Site: Carrier Management

The Hard Lessons of Modeling the Coronavirus Pandemic

Mary Pat Campbell

Link: https://www.quantamagazine.org/the-hard-lessons-of-modeling-the-coronavirus-pandemic-20210128/?mc_cid=e9f8b32129&mc_eid=983bcf5922

Excerpt:

For a few months last year, Nigel Goldenfeld and Sergei Maslov, a pair of physicists at the University of Illinois, Urbana-Champaign, were unlikely celebrities in their state’s COVID-19 pandemic response — that is, until everything went wrong.

….

Following the model’s guidance, the University of Illinois formulated a plan. It would test all its students for the coronavirus twice a week, require the use of masks, and implement other logistical considerations and controls, including an effective contact-tracing system and an exposure-notification phone app. The math suggested that this combination of policies would be sufficient to allow in-person instruction to resume without touching off exponential spread of the virus.

But on September 3, just one week into its fall semester, the university faced a bleak reality. Nearly 800 of its students had tested positive for the coronavirus — more than the model had projected by Thanksgiving. Administrators had to issue an immediate campus-wide suspension of nonessential activities.

Author: Jordana Cepelewicz

Publication Date: 28 January 2021

Publication Site: Quanta Magazine