Big Data, individualization and the principle of solidarity in insurance

Description

With the help of sensors, trackers and mobile technologies, more and more data is available to customers for self-measurement and self-monitoring. Big data and changes in demand behavior are also affecting the insurance industry. With more behavioral and personal information at their disposal, insurers can assess the risk profile of an individual more precisely, address customers more individually and differentiate more strongly both in prices and in the range of services. The increased customer segmentation as a consequence of "Big Data" opens up opportunities, but at the same time has also rekindled the discussion about fairness, discrimination and desolidarization. This research project investigates the question of what consequences the availability of data has for the demand and supply of individualized insurance services.