Big Data Analytics, Insurtech and Consumer Contracts: A European Appraisal

30 European Review of Private Law 613-634 (2022)

21 Pages Posted: 18 Jan 2023

Date Written: February 18, 2022

Abstract

The paper investigates, from the European perspective, to what extent the enhanced availability of granular data to insurance companies and the growing sophistication of insurers’ processing capabilities through big data analytics (BDA) are fostering the increasing personalization of insurance products and services for consumers. To this purpose, the paper first explores the very notion of ‘automated personalization’ in insurance, and then delves into the institutional, epistemic, economic and legal factors that, in Europe, work as a constraint, at least in the short-term, to paradigmatic shifts in insurance consumers contracts. The analysis will hopefully demonstrate that automated personalization in consumer insurance contracts, in Europe, is for the time being more a myth than a reality. What does exist, by contrast, is a no less problematic trend towards mass customization and robotization of consumer insurance contracts, which fully deserves lawyers’ attention.

Keywords: InsurTech, Comparative Law, European Law, Privacy Law, Antidiscrimination Law

JEL Classification: K

Suggested Citation

Infantino, Marta, Big Data Analytics, Insurtech and Consumer Contracts: A European Appraisal (February 18, 2022). 30 European Review of Private Law 613-634 (2022), Available at SSRN: https://ssrn.com/abstract=3489217 or http://dx.doi.org/10.2139/ssrn.3489217

Marta Infantino (Contact Author)

University of Trieste ( email )

Piazzale Europa, 1
Trieste, Trieste 34100
Italy

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