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But how do I evaluate how the magnitude of effect of my income on the value I get from the insurance (relative to the average buyer who sets the market price) i
by aoanevdus 2y ago
But how do I evaluate how the magnitude of effect of my income on the value I get from the insurance (relative to the average buyer who sets the market price) if I’m lacking the figures to compute the Kelly criterion? Is it useful to me at all as a consumer? Is there version of the formula I can use if I want to implicitly accept the work of the insurance company’s actuaries, but skew the result to account for how I differ from the average customer?
- kqr 2y agoThat's an interesting question! The actual risk assessments thr insurer does are obviously confidential, but you're asking whether we can reverse engineer their premiums into underlying probability estimations? So we'd still be estimating probabilities, but based on information leaked from insurers instead of first principles. Could work! I don't know how, though.