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The Disruptive Impact of FinTech on Retirement Systems$
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Julie Agnew and Olivia S. Mitchell

Print publication date: 2019

Print ISBN-13: 9780198845553

Published to Oxford Scholarship Online: October 2019

DOI: 10.1093/oso/9780198845553.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 04 March 2021

Ethics, Insurance Pricing, Genetics, and Big Data

Ethics, Insurance Pricing, Genetics, and Big Data

Chapter:
(p.75) Chapter 5 Ethics, Insurance Pricing, Genetics, and Big Data
Source:
The Disruptive Impact of FinTech on Retirement Systems
Author(s):

Robert Klitzman

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198845553.003.0005

Insurers are rapidly gaining access to consumers’ genetic information. In the U.S., federal law bars using genetic information in health insurance, but not in life, disability, or long-term care insurance. Accordingly, insurers may fear adverse selection: individuals could undergo testing, learn they have risky genes, and purchase insurance without revealing test results. While other countries have established moratoria on insurers’ use of genetic information, there is no consensus in the U.S. regarding how to avoid ‘unfair discrimination.’ The chapter discusses alternative solutions, including government bans of insurers’ use of genetic information, or limiting insurer information to only high-risk genes.

Keywords:   insurance, risk-management, genetic testing, healthcare, Genetic Information Non-Discrimination Act

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