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This is one thing I've never really understood about the market for insurance. Wouldn't the customer's best answer be, "OK, thanks for the new roof, I understan
by hotpotamus 3y ago
This is one thing I've never really understood about the market for insurance. Wouldn't the customer's best answer be, "OK, thanks for the new roof, I understand that you're dropping me, so I'll just switch to your competitor"?
And then wouldn't it be in the interest of the insurers to maintain a shared list of "bad" (unprofitable) customers and freeze them out? Which is already a bit of what credit scores are for?
- alistairSH 3y agoInsurance companies handle this today by either refusing polices on uninsured homes, or pricing those policies much higher. "Your previous insurer dropped you, there must have been a reason." And, yeah, when applying for a policy, the questionnaire should include "have you filed a claim for X, Y, Z in the last 2 years?" Auto insurance does this already.
- Spooky23 3y agoThey already do. If you think that Google’s data collection practices are intrusive, you have no idea how much these folks know about you. Insurance companies have a privileged legal position to do all sorts of stuff.