Results 11,501-11,520 of 35,756 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: On Insurance Ireland’s aims and objectives to help the industry to support its consumers, what about the practice of dual pricing? Take the practice of an insurance company operating in Ireland, a member of Insurance Ireland, quoting an existing consumer €4,000 for a renewal. However, when I enter my details into the company’s website, as a first-time customer, I get a...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Does Mr. Hassett believe that this happens?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Has Mr. Hassett ever asked insurance companies about dual pricing?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Has it ever discussed with insurance companies the issue of artificial intelligence?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Has Insurance Ireland discussed the issue of artificial intelligence and machine learning?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Has Insurance Ireland an innovation partnership with Accenture?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Has it reported that companies that develop, for example, data management capability and control and utilise the massive data that are collected across the insurance value chain are the ones that will differentiate themselves from the rest? Has it also stated companies need to adapt their analytics and optimise customer experience to keep and grow their share of the wallet?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Does Accenture chair and sponsor the innovation task force with Insurance Ireland?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Was it involved in, for example, breakfast briefings for the industry concerning artificial intelligence and machine learning?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: The reason I raised this is because Mr. Hassett just said that the issue of artificial intelligence and machine learning is not something Insurance Ireland has discussed. Not only has it discussed this issue, its partner, Accenture, is involved in breakfast briefings with Insurance Ireland on this. One does not have to go far to find this out. It is in Insurance Ireland's 2017 annual...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Which one?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Hang on.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Accenture in Insurance Ireland’s 2017 annual report stated, “We will also roll out the next series of breakfast briefings to the membership of Insurance Ireland on matters of most strategic importance to them and we plan to launch a survey in 2018.” This was accompanied with a nice collage of pictures of previous breakfast briefings to the members of Insurance Ireland,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: That is fine. However, I take issue with Mr. Hassett’s earlier comment suggesting this was never discussed. We can give him the transcripts on this. Mr. Hassett mentioned the EIOPA analysis done with 222 insurance companies. Did any insurance companies in Ireland participate in that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Did Insurance Ireland participate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Is Insurance Ireland aware of any insurance companies using third-party data in terms of their pricing structures?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Would Mr. Hassett be shocked to learn if it were the case that third-party data, such as loyalty cards in SuperValu chains or credit card information, was used by insurance companies to look at behaviour analysis for dual pricing?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Dual pricing, however, is not about pricing the risk. Dual pricing is the layer above the risk where one looks at behaviour statistics. For example, the EIOPA study, in which 222 insurance companies participated, makes it clear. A different type of data is used. There are the data we provide to the insurance companies. Third-party data are purchased legally by the companies from other...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: Mr. Hassett mentioned the European Insurance and Occupational Pensions Authority study. The study described price optimisation, which is dual practice, as when the consumer's premium depends not only on the risk but also on price sensitivity and the likelihood of shopping around, and stated that it could be challenging from a fairness and ethical perspective, and that this is particularly...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Pearse Doherty: The report also made the point that insurance companies will move into this area in an accelerated way, particularly over the next three years, and that insurance companies now use data sources such as genetics. Is Mr. Hassett aware of any company in Ireland using genetics as a data source?