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> think the stored data they have is their only advantage, but they don't seem to know how to leverage it. I really wonder what happens to that data if they g
by hasoleju 3y ago
> think the stored data they have is their only advantage, but they don't seem to know how to leverage it.
I really wonder what happens to that data if they get acquired or shut down. The possible new owner of the data might have a completely different business case in mind. This scenario is something you usually don't consider when you give your data to a company that you trust at the moment.
- babypuncher 3y agoLike selling it to insurance companies who can use the data to deny coverage.
- mminer237 3y agoThis is illegal, at least in the US.
- carbocation 3y agoIllegal for health insurance companies. But not so for life insurance, or disability insurance or long-term care.
- rockinghigh 3y agoIt's illegal in some US states like California. The California Genetic Information Privacy Act prohibits these companies from disclosing a consumer’s genetic data to any entity that is responsible for administering or making decisions regarding health insurance, life insurance, long-term care insurance, disability insurance.
- astura 3y agoIf they wanted to use that information for underwriting they'd just make getting a genetic test a prereq before underwriting the policy.
- Dylan16807 3y agoAnd if they wanted easy cash they'd "just" make you pay $500 as a signup fee. Which is to say: No they wouldn't just do that, it would cut their business too much despite being a way to make more money per client. But getting it from a company that already has it avoids that downside.
- sorokod 3y agoNo need to wonder, imagine the worst case scenario and assign it a non zero probability. This scenario is something you usually don't consider when you give your data to a company that you trust at the moment. Why would you not consider it?