Technology Ethics - Part 1
Much has been written in recent years regarding the role of ethics in technology. Considering this week’s congressional hearing involving Facebook and Twitter censorship of user accounts, the ethical questions are gaining more attention in the public domain.
Technology Ethics is a big topic having many dimensions and fundamental theories and it has become a new sub-category in the world of Ethics. We will seek to address ethics in InsurTech, more specifically, over the coming months as a series broken into smaller easily digestible parts.
Let’s start with a definition of Technology Ethics. According to Wikipedia, “Technology ethics are principles that can be used to govern technology including factors like risk management and individual rights. They are basically used to understand and resolve moral issues that have to do with the development and application of technology of different types.”
As Insurtechs seek to deliver innovation that streamlines and improves insurance processes, products, consumer engagement, risk management and cost savings to delight customers, guarding and protecting the public trust is critical to the success of adoption and sustainability for the future. The public good is paramount. The ethical decision-making process in technology must include accountability and transparency for all stakeholders. But how is this achieved?
We will break down this discussion according to the following concepts:
2. Risk Management
3. Individual Rights
5. Legal/ Regulatory
6. Ethics Framework
As we approach these topics, using an example from Care Bridge International, in terms of governance, we have an advisory board in place including an independent 3rd party technology expert and we use an independent 3rd party for stress testing, security assessments and credentials.
From a risk management perspective, from its inception, the company opted not to collect protected health information (PHI) or HIPAA protected information on its server from its clients, meaning we do not collect and store claimant full names, dates of birth, social security numbers or full addresses that might be used to identify a real person that can be associated with confidential medical records. As this information is not collected and stored on our server, instead a unique identifier is assigned to each claim number to protect the identities of individual claimants.
In protecting individual rights and collaboration with 3rd parties, our proprietary data set nor the data of our clients is shared or sold to 3rd parties without the express written consent from the data source with a clearly defined description of what will be shared with a business associate agreement that requires verification of cybersecurity controls from the 3rd party.
An ethics framework incorporating all legal state and Federal requirements, regulatory, insurance and a written ethical commitment from all staff plus HIPAA certification, is in place to fulfill the company’s data security and compliance requirements. To date, we have passed every security assessment imposed upon us by a prospective or existing client. Data Integrity has been tested and re-tested according to nationally accepted standards and actuarial principles, our results and outcomes are further endorsed according to actuarial principles. Great care has been taken to address the risks and concerns of our clients to ensure trust in our products and our people. Regular training and education around cybersecurity and ethics is part of our company culture. We want our clients to do business with us confidently, knowing that integrity is a top priority and a cornerstone of our mission, vision, and core values statement.
The Leader in integrating data intelligence with bodily injuries, complex/ chronic disease, and disability to impact/ improve outcomes in a global healthcare environment.
Global technology-based solutions delivered with quality, integrity, and personal touch, that address the future medical costs and care management of healthcare needs.
The company's team of experts deliver outcomes for businesses seeking to improve quality while reducing costs, through a unique data centric, integrated and coordinated approach.
In addition to this series of blog content, stay tuned for FREE webcasts offering continuing education Ethics credits!
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