Question

Assume, X Company Limited (XCL) is one of the leading 4th generation Life Insurance

Answer 1

Answer:

The issues related to the privacy are:

1. Informational privacy

2. Discrimination factors

3. Biased grouping on the basis of Data mining

4. Lack of consent

5. Morally wrong

6. Illegal distribution of information risks

7. Possibility of threat to life

Let's look at some major concerns:

1. Informational privacy : The concept of privacy of the personal information is totally nullified when the information is being used for a purpose other than the intended one for which it was given. This unethical use of information even for general purposes is not correct and is a matter of concern. It is more like using the sensitive data of others for personal benefit which is purely objectionable and raises security issues. Sometimes the data is also shared with the potential employers which might have certain impacts we are unaware of.

2. Data mining issues : The process of using a certain information to arrive and understand the trend and outcomes is called data mining. In this case, the consumer's data undergoes grouping and might get placed in the wrong group rather than the actual one. Also, there can be a case of biasing towards the groups which are not be focused on, or are not a part of the intended audience. This leads to the discrimination factors if we see it from a social point of view.

3. Lack of consent : Use of information without the consent or awareness of the consumers raises concern over the business ethics followed by the company. No one deserves the right to misuse information for his personal benefits without any of its information to the consumer. It is morally wrong and againt the work ethics. Moreover, it raises trust issues between the two involved, and hence is socially unacceptable.Explanation:

Answer 2

Answer:

The issues related to the privacy are:

1. Informational privacy

2. Discrimination factors

3. Biased grouping on the basis of Data mining

4. Lack of consent

5. Morally wrong

6. Illegal distribution of information risks

7. Possibility of threat to life

Let's look at some major concerns:

1. Informational privacy : The concept of privacy of the personal information is totally nullified when the information is being used for a purpose other than the intended one for which it was given. This unethical use of information even for general purposes is not correct and is a matter of concern. It is more like using the sensitive data of others for personal benefit which is purely objectionable and raises security issues. Sometimes the data is also shared with the potential employers which might have certain impacts we are unaware of.

2. Data mining issues : The process of using a certain information to arrive and understand the trend and outcomes is called data mining. In this case, the consumer's data undergoes grouping and might get placed in the wrong group rather than the actual one. Also, there can be a case of biasing towards the groups which are not be focused on, or are not a part of the intended audience. This leads to the discrimination factors if we see it from a social point of view.

3. Lack of consent : Use of information without the consent or awareness of the consumers raises concern over the business ethics followed by the company. No one deserves the right to misuse information for his personal benefits without any of its information to the consumer. It is morally wrong and againt the work ethics. Moreover, it raises trust issues between the two involved, and hence is socially unacceptable.