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This seems reasonable to me: if you do things that statistically correlate to being more likely to cause an accident, why shouldn't the insurance company charg

by nkurz 3y ago

This seems reasonable to me: if you do things that statistically correlate to being more likely to cause an accident, why shouldn't the insurance company charge you more? And since it's a relatively small group of drivers who cause the most accidents, if we could identify them the majority would see their rates drop. It's an interesting topic, and it would be nice to see more details on the accuracy of the algorithm, but as a conservative driver likely to benefit, I like the idea. If everyone pays the same for insurance regardless of risk it's a terrible deal for those less likely to make a claim. The debate should be about the accuracy of the approach, not the concept.

dandy23 3y ago
Apply it to healthcare and rethink. Not saying you are completely wrong, but I think there are other measures to stop bad driving. The whole point of insurance is also the even out the tops and bottoms. If everyone paid their fair share cost for the insurance there would be no point with insurance. You could as well pay the damage yourself when it comes.
- mint2 3y ago
  It’s not like health. Driving by and large is wholly controllable and should be rated on wholly controllable variables. Not BS stuff like are you married? no? then higher rates for you.
- kelnos 3y ago
  I'm not a fan of car insurance company practices, but I don't think this line of reasoning makes sense. Driving safely is directly under each individual's control. Obviously things happen that couldn't reasonably be predicted and avoided, but you can choose to drive 65mph on the highway instead of 85mph, and if that actually does correlate with lower accident rates, then I think it's fair game for insurance to charge differently based on that. Health outcomes are... more complicated. Yes, there are things you do have control over that can make you more healthy or less healthy, but there are many confounding factors that might make you a big drain on your health insurance provider. Of course, no way in hell am I going to let insurance companies pry into my life to that degree.
mns 3y ago
Just wait until you are in an edge case scenario that was never considered by the algorithm and the people developing it, or there is a bug and you are marked as a bad driver forever with no option to challenge the rating, because for normal people in insurance, the algorithm/AI can never be wrong.
kelnos 3y ago
> This seems reasonable to me: if you do things that statistically correlate to being more likely to cause an accident, why shouldn't the insurance company charge you more? The question is, though, does "hard braking" actually correlate to being more likely to cause an accident? I don't think anyone has supported these assertions with evidence.

by nkurz 3y ago

dandy23 3y ago

Apply it to healthcare and rethink. Not saying you are completely wrong, but I think there are other measures to stop bad driving. The whole point of insurance is also the even out the tops and bottoms. If everyone paid their fair share cost for the insurance there would be no point with insurance. You could as well pay the damage yourself when it comes.

mint2 3y ago
It’s not like health. Driving by and large is wholly controllable and should be rated on wholly controllable variables. Not BS stuff like are you married? no? then higher rates for you.
kelnos 3y ago
I'm not a fan of car insurance company practices, but I don't think this line of reasoning makes sense. Driving safely is directly under each individual's control. Obviously things happen that couldn't reasonably be predicted and avoided, but you can choose to drive 65mph on the highway instead of 85mph, and if that actually does correlate with lower accident rates, then I think it's fair game for insurance to charge differently based on that. Health outcomes are... more complicated. Yes, there are things you do have control over that can make you more healthy or less healthy, but there are many confounding factors that might make you a big drain on your health insurance provider. Of course, no way in hell am I going to let insurance companies pry into my life to that degree.

mns 3y ago

Just wait until you are in an edge case scenario that was never considered by the algorithm and the people developing it, or there is a bug and you are marked as a bad driver forever with no option to challenge the rating, because for normal people in insurance, the algorithm/AI can never be wrong.

kelnos 3y ago

> This seems reasonable to me: if you do things that statistically correlate to being more likely to cause an accident, why shouldn't the insurance company charge you more? The question is, though, does "hard braking" actually correlate to being more likely to cause an accident? I don't think anyone has supported these assertions with evidence.