Abstract:
With the completion of the Human Genome Project, a large wealth of knowledge was gained about the basic biology of humans. The understanding of genetics has grown exponentially since then. Hidden in the DNA of every person is information about potential health risks. If this information is accurate enough, it could become an extremely valuable asset to underwriters and actuaries at life and health insurance companies. This rapid increase in knowledge of genetic diseases has also lead to fears among some considering buying insurance. Some may think that they will be treated unfairly by insurers if they take a genetic test. This paper investigates how insurance companies can use genetic information and how they currently are.
