This prize is to be presented to the paper or presentation, that in the opinion of the judges does the most to advance the actuarial theory and practice of general insurance. This prize has been funded by the late Carol Dolan.
Congratulations to Xi Xin and Fei Huang, winners of the inaugural Carol Dolan Actuaries Summit Prize for their paper Anti-discrimination Insurance Pricing: Regulations, Fairness Criteria, and Models
. Their paper dives into the issue of insurance discrimination – an area under deeper regulatory scrutiny as insurance companies increasingly rely on big data analytics and AI. Its empirical analysis compared the outcome of different models via fairness-accuracy trade-off and the impact on customer behaviour and solidarity.
ABOUT CAROL DOLAN
After graduating from Macquarie University, which she attended on an AMP actuarial scholarship, Carol Dolan was an actuary for 35 years, working in the insurance and financial services sectors in Australia and the United States, where she advised senior management and Boards on matters including risk management, strategic planning, premium rate setting and liability estimation. She was an active contributor to the Institute and the profession more broadly, and in 2015 was appointed to the Board of the Insurance Commission of Western Australia. She was also a supporter of a number of charities, in particular Anglicare Victoria, on whose Board she served, and the Fathering Project.
As well as completing her professional actuarial qualifications, Carol had an MBA and completed the AICD’s Company Director Course. She is survived by her husband Phil and three adult children.
This prize has been established in her memory, with the aim of recognizing her contribution to the general insurance industry and the role that actuaries play within it.