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I work in DS for a car insurance company, from the inside the returning of premium seems more of a 'pr goodwill' type of thing than anything else. As soon as on

I work in DS for a car insurance company, from the inside the returning of premium seems more of a 'pr goodwill' type of thing than anything else. As soon as one company did it, they sort of all wanted to follow suit in order to preserve optics. There really isn't a limit to profits such as, 'we can only make $500 off of this policy anything over that we would have to refund'

philipov 7y ago
What is DS? If I google it, I get "Diplomatic Security" and that can't be right.
- BrentOzar 7y ago
  Data science?
  - philipov 7y ago
    Nah, no one uses an initialism to refer to Data Science! I'm betting it's Direct Sales.
- csytan 7y ago
  I'm curious as well. Maybe it's Direct Sales?
- RandomBK 7y ago
  Data Scientist
bigtones 6y ago
Direct Sales
Shivetya 6y ago
I was under the impression that in some states there is a percentage profit rule, is that not the case or a better interpretation of how that works?
- SubparUser 6y ago
  So I am not an actuary so I'm not super familiar with all the rules, but i believe there isn't a hard and fast profit rule for auto insurance. Now that being said, a lot of the times we use the observed loss ratio as rational for changes to plans so if we were 'too profitable' i would imagine it would open us up to a lot more scrutiny from the DOIs.