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Wednesday, August 4 • 9:00am - 10:30am
6C2 Classification risk in health insurance: The interaction of prevention and guaranteed renewable insurance

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Julia Holzapfel, MRIC, LMU Munich

We study regulatory regimes toward the use of genetic and behavioral information in the pricing of guaranteed renewable (GR) health insurance. Individuals have access to different prevention technologies to reduce their risk of health losses later in life. Thus, insurance markets may be affected by moral hazard and adverse selection. Our results show that GR contracts which reward investments in prevention but do not use genetic information in pricing can be a good compromise to offer classification risk insurance at an attractive price without disadvantaging individuals with an unfortunate genetic endowment. These contracts guide the insured to reduce expected long-term costs from health losses if prevention is similarly productive for everyone. However, they cannot be geared to each insured’s personal abilities. If the productivity of prevention depends strongly on an individual’s genetic disposition, there is a need for additional health campaigns targeted at the ones for whom prevention is particularly productive.


Afrasiab Mirza

University of Birmingham

avatar for Julia Holzapfel

Julia Holzapfel

MRIC, LMU Munich

Wednesday August 4, 2021 9:00am - 10:30am EDT