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The difference is aggregate vs specific data. If insurance companies use the cars' data to change their policies in aggregate, there's no problem. Meaning, if t
by jonny_eh 7y ago
The difference is aggregate vs specific data. If insurance companies use the cars' data to change their policies in aggregate, there's no problem. Meaning, if they discover that cars of a particular brand have more accidents, they can raise premiums on owners of that brand of car. On the other hand, determining that YOU drive really fast, should NOT trigger a higher premium.
- lotsofpulp 7y agoIt should absolutely trigger a higher premium if driving faster means higher losses. Otherwise the people driving slower are subsidizing the risk that the people driving faster are taking. How is that fair?
- yyy888sss 7y agoIn the UK young people can get cheaper premiums if they install a tracker which monitors speed, driving patterns etc. They've had this for decades.