engleski

Actuarial challenges in personalized medicine

The developments in personalized medicine represent a turning point in the approach and development of drugs and medical practice. Among the many expected benefits, the most noticeable is the development and production of safer and more effective cures for specific diseases. However, in order to fully reach this advantage, there are many obstacles that ought to be surpassed such as the creation of new and/or adaptation of existing public policies, institutional and regulatory constraints, insufficient insurance levels not covering prevention and many others. This research aims to identify the potential challenges of actuarial science in the context of the new era of personalized medicine. Namely, based on the analysis of the input data nowadays used in calculations of insurance premiums and current actuarial methods, the authors attempt to anticipate potential factors that should be taken into account in future life insurance calculations. In addition to more complex actuarial calculations, future issues in calculating premiums, when personalized medicine is concerned, will include moral dilemmas and constraints related to confidential medical data that the policy holder wishes and the relevant medical institution needs to withhold.

personalized medicine, actuarial challanges

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