정보기술의 발전과 보험법의 문제 - 빅데이터 분석의 발전이 보험요율에 미치는 영향을 중심으로 -

Abstract

Today, the development of Big Data Analytics(BDA) has exerted significant impacts on the insurance industry. BDA has enhanced the innovation and efficiency of insurance businesses regarding their solicitation, underwriting and maintenance of insurance, handling of insurance claims and so on. This article focuses on the personalisation of insurance rates and legal issues thereon. The current insurance rates are not personalised up to each insured but standardised without difference. This standardisation is due to information asymmetry between the insurer and the insured, resulting in adverse selections of insurance pool in which more high risks and less low risks are underwritten. BDA enables insurance rates to be personalised by alleviating such an information asymmetry so that adverse selections of insurance pool may be relieved or removed. Despite these positive effects, BDA differs from traditional insurance statistics, in that BDA verifies not the causality but the correlation, and involves risks, such as error risk. Therefore, it is necessary to review legal issues whether personalised insurance rates based upon BDA comply with the principles of insurance rates required by Insurance Business Act sec. 129. One issue is whether personalised insurance rates based upon BDA may be classified as statistical insurance rates. The other issue is whether personalised insurance rates based upon BDA may lead to unjust discrimination or discrimination without legitimate reason among the insured. This article makes the following conclusion. First, insurance rates derived from BDA must be within the range of statistical insurance rates. This is to maximize the optimism caused by the personalised insurance rates and to increase the social welfare. However, it is necessary to consider the BDA’s rate of development when selecting the insurance rates range in detail. Secondly, the personalized insurance rates may be a source of discrimination between the involved parties. The ban on discriminatory insurance rates prohibits the unfair discrimination between the involved parties of the insurance contracts. Furthermore, it bans discrimination of insurance rates on unreasonable grounds, such as disability. The two bans imposed by the law are considered separate because of the difference in strictness. The former discrimination can be allowed if there is an objective difference of the risks. However, the latter discrimination is possible when there is not only such an objective difference but also a separate condition that discrimination is by necessity, not by choice. When we enforce the latter ban strictly, we must conclude that it is difficult to permit the latter discrimination based on the difference of the risks verified by BDA.