Unisex Insurance Pricing: Consumers' Perception and Market Implications

Détails

ID Serval
serval:BIB_97A0045952E2
Type
Article: article d'un périodique ou d'un magazine.
Collection
Publications
Titre
Unisex Insurance Pricing: Consumers' Perception and Market Implications
Périodique
Geneva Papers on Risk and Insurance - Issues and Practice
Auteur(s)
Schmeiser H., Störmer T., Wagner J.
ISSN
1018-5895
Statut éditorial
Publié
Date de publication
2014
Peer-reviewed
Oui
Volume
39
Numéro
2
Pages
322-350
Langue
anglais
Résumé
The main reason for different insurance premiums and benefits is the use of different statistically proven risk factors in actuarial calculations for individuals. Basing its ruling on European Union Directive 2004/113/EC, the European Court of Justice on 1 March 2011 concluded that any gender-based discrimination is prohibited, so gender equality in the European Union (EU) must be ensured from 21 December 2012. Until then, gender-specific premium differentiation was allowed in most EU Member States for risks that are strongly linked to gender. We discuss the relevance of price differentiation criteria from the point of view of insurers, regulators and ethicists, and reflect on the degree of acceptance of such price differentiation by consumers, which is assessed empirically through an international consumer survey conducted in the United Kingdom, Germany, France, Italy and Switzerland. The perception of risk factors and of effective gender-related price differences is considered with respect to motor, annuity, term life and health insurance Finally, we discuss possible consequences of the new regulation for the insurance industry.
Mots-clé
Insurance pricing, Risk criteria, Unisex premiums, Gender discrimination
Web of science
Open Access
Oui
Création de la notice
03/07/2014 16:20
Dernière modification de la notice
20/08/2019 14:59
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