Technology in Microinsurance: How New Developments Affect the Work of Actuaries

Paper
Date Published: 
May 2019
Author: 
Queenie Chow, Jia Min Ng, Katie Biese & Michael J. McCord

Detailing possible implications of emerging technology on the microinsurance process

Low-income people face various challenges in accessing financial products. In overcoming these challenges, a growing number of innovations and technologies have emerged in the arena of microinsurance. Moreover, there is a growing number of reference reports which highlight the evolving intersections of the actuarial profession with technological innovation.

This literature review provides insights on emerging technologies that interact with the actuarial profession within the space of microinsurance for the purpose of establishing a frame of reference for actuaries to use in their work. Furthermore, it intends to spark readers' interest in, and create a vision for, how microinsurance and its associated technologies may impact the actuarial industry in the future.

Type: 
Paper
Topic: 
Insurance