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> If there wasn't any shoplifting, would they still put things in cabinets? If your insurance company tells you to do something in order to retain your nice ra

> If there wasn't any shoplifting, would they still put things in cabinets? If your insurance company tells you to do something in order to retain your nice rates, (or your policy) you do that thing. So, yeah, there totally can be a disconnect between the situation on the ground and what the suits think is going on. Also, you might not be aware of how out of touch C-level employees can be with what's actually going on inside the company they theoretically oversee. Anyone who has worked at a BigCo for more than a handful of years should be quite familiar with the sight of incredibly stupid CRASH-priority projects hurled down from the C-suite. If you're a line worker, it doesn't matter how stupid it is; you don't sign the paychecks, so you shut the hell up and do it.

vel0city 2y ago
> If your insurance company tells you to do something in order to retain your nice rates Yeah because insurance companies never actually look at real data and just go by their gut feelings on everything. If insurance rates are increasing in areas which don't have these cabinets, it's probably because there are more claims due to shrink in those areas from stores which don't have cabinets. If it truly is because of insurance rates I'd say that'd be excellent data (or that they have that data) to point out it is because of shrink.
- simoncion 2y ago
  > Yeah because insurance companies never actually look at real data and just go by their gut feelings on everything. Just like company execs never go by their gut feelings and always actually go look at real data? Even companies that you'd think would have everything straight sometimes don't. Assuming that a company that should be a sophisticated actor is ALWAYS doing the correct thing is no less foolish than the converse.
  - vel0city 2y ago
    Company execs aren't writing the policies, actuaries are. Actuaries which spend their days analyzing all the minutiae of data and trying to quantize risk. If anyone knows the real risk/reward of putting merchandise in cabinets by zip code it's some actuary at some insurance firm. Arguing insurance companies don't follow the data and usually behave irrationally is ignoring reality.
    - simoncion 2y ago
      > Arguing insurance companies ... usually behave irrationally is ignoring reality. Arguing that I claimed that insurance companies usually don't follow the data and usually do behave irrationally is ignoring what I wrote, which is reproduced below. > Even companies that you'd think would have everything straight sometimes don't. Assuming that a company that should be a sophisticated actor is ALWAYS doing the correct thing is no less foolish than the converse.
      - vel0city 2y ago
        You're arguing this time they got it wrong despite not actually sharing any evidence. Understood. Your gut and vapid speculation of internet commenters is infallible unlike these supposed insurance companies. Which is funny, because even the idea these rates are being set higher is nothing but speculation in internet comments. I agree they probably get some things wrong, but I think they probably get things right more often than not when it comes to analyzing risk. I wouldn't bet against the insurance companies on any random thing, even though I acknowledge they do make some mistakes. Chances are the insurance company understands the generalized risks on whatever they're underwriting more than I do. If nobody was actually making claims for shrink, you really think the insurance companies would jack up the rates or require cabinets? It wouldn't just come from nowhere. And it's odd they only do it in some markets and not others. Around me there are no cabinets at Walgreens, CVS, Target, Walmart, and the other retailers mentioned in these comments. Obviously there's some level of targeting here going on, I wonder what data point they'd use...hmm...

vel0city 2y ago

> If your insurance company tells you to do something in order to retain your nice rates Yeah because insurance companies never actually look at real data and just go by their gut feelings on everything. If insurance rates are increasing in areas which don't have these cabinets, it's probably because there are more claims due to shrink in those areas from stores which don't have cabinets. If it truly is because of insurance rates I'd say that'd be excellent data (or that they have that data) to point out it is because of shrink.

simoncion 2y ago
> Yeah because insurance companies never actually look at real data and just go by their gut feelings on everything. Just like company execs never go by their gut feelings and always actually go look at real data? Even companies that you'd think would have everything straight sometimes don't. Assuming that a company that should be a sophisticated actor is ALWAYS doing the correct thing is no less foolish than the converse.
- vel0city 2y ago
  Company execs aren't writing the policies, actuaries are. Actuaries which spend their days analyzing all the minutiae of data and trying to quantize risk. If anyone knows the real risk/reward of putting merchandise in cabinets by zip code it's some actuary at some insurance firm. Arguing insurance companies don't follow the data and usually behave irrationally is ignoring reality.
  - simoncion 2y ago
    > Arguing insurance companies ... usually behave irrationally is ignoring reality. Arguing that I claimed that insurance companies usually don't follow the data and usually do behave irrationally is ignoring what I wrote, which is reproduced below. > Even companies that you'd think would have everything straight sometimes don't. Assuming that a company that should be a sophisticated actor is ALWAYS doing the correct thing is no less foolish than the converse.
    - vel0city 2y ago
      You're arguing this time they got it wrong despite not actually sharing any evidence. Understood. Your gut and vapid speculation of internet commenters is infallible unlike these supposed insurance companies. Which is funny, because even the idea these rates are being set higher is nothing but speculation in internet comments. I agree they probably get some things wrong, but I think they probably get things right more often than not when it comes to analyzing risk. I wouldn't bet against the insurance companies on any random thing, even though I acknowledge they do make some mistakes. Chances are the insurance company understands the generalized risks on whatever they're underwriting more than I do. If nobody was actually making claims for shrink, you really think the insurance companies would jack up the rates or require cabinets? It wouldn't just come from nowhere. And it's odd they only do it in some markets and not others. Around me there are no cabinets at Walgreens, CVS, Target, Walmart, and the other retailers mentioned in these comments. Obviously there's some level of targeting here going on, I wonder what data point they'd use...hmm...