The financial impact of genetic information on the insurance industry
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This thesis discusses the overall impact of genetic information on the insurance industry using the \bottom-up" approach, in which individual studies of each genetic disorder of interest are studied ¯rst. We review ¯ve relevant individual studies of adult polycystic kidney disease (APKD), early-onset Alzheimer's disease (EOAD), Huntington's disease (HD), hereditary non-polyposis colorectal cancer (HNPCC), breast & ovarian cancer (BC & OC), and use myotonic dystrophy (MD) to exemplify the methodology of the \bottom- up" approach, and bring these together to quantify the overall impact of genetic informa- tion in both the critical illness (CI) insurance and the life insurance market. We also carry out an individual study of OC in the income protect insurance (IPI) market. We conclude that in most cases the cost of adverse selection is negligible and should not cause signif- icant concerns for insurers, especially when we consider other factors, e.g. development of health care and general trend of mortality improvement, which greatly overwhelm the genetic risk. Further this thesis models the colorectal cancer (CRC) screening program as an example and conclude that the CRC screening program appears to reduce the genetic risk by about the same magnitude.