Identify three separate ethical issues raised by this case study The insurance company you work for is looking to expand in the life protection market You are a member of a team of actuaries responsib

Pricing Strategy: The team of actuaries is responsible for recommending a pricing approach for the life protection product, but the pricing strategy is on the margins. This raises the ethical issue of whether the pricing strategy is fair and reasonable for customers. The company has a responsibility to provide affordable and accessible life protection products to customers, and the pricing strategy may not be in their best interest.

Deputising at the meeting: The actuary who leads the team is off sick, and another actuary is asked to deputise at the meeting. This raises the ethical issue of whether the company should have a contingency plan in place to ensure that important decisions are not made in the absence of key personnel. The decision made in this meeting could have a significant impact on the company's profitability and reputation, and it is important to have the right people in place to make informed decisions.

Marketing and Profitability: The committee decides on a pricing strategy that is lower than the one suggested in the report, but only the best lives will be able to get the product at this price. This raises the ethical issue of whether the company is being transparent and fair in its marketing and pricing practices. The company has a responsibility to provide clear and accurate information to customers, and the pricing strategy may not be transparent or fair to all customers. Additionally, the emphasis on optional extras at a hefty margin may not be in the best interest of customers and may raise concerns about the company's focus on profitability over customer needs