Admiral to price car insurance based on Facebook posts

Post by nwrk » Wed, Nov 02, 2016, 9:37 PM UTC

joezydeco wrote: post #43

faitswulff wrote: post #41

In the sidebar: "Facebook forces Admiral to pull plan to price car insurance based on posts" https://www.theguardian.com/money/2016/nov/02/facebook-admir... > Facebook said protecting the privacy of its users was of the utmost importance to it and it had clear guidelines about how information obtained from the site should be used. > Section 3.15 of Facebook’s platform policy states that the social media site’s data s…

So what happens if the user consents to giving that data up? As in: "Welcome to Admiral. We're going to charge you X. If you want the possibility of being charged less, give us your Facebook and Twitter passwords."

Next step. Agree.

Do you want to trade access to your FB account for £350 ?

Post by newscracker » Thu, Nov 03, 2016, 7:09 AM UTC

MichaelBurge wrote: post #38

newscracker wrote: post #22

Won't this cause people to game the system to get discounts? I'm sure once people learn more about the internals (some of which have been revealed in the article), they could change their online behavior (not necessarily offline) to make it more suited to what gets a better value for them. Or they could even have multiple accounts - one to show a good face to such companies and another that's a personal account (even…

Do you personally plan to spend time trying to reverse-engineer Admiral's insurance model? If not, multiply that by everyone else and you have your answer. It's less work to just switch insurance companies.

One thing I missed in my point was that many other companies seem to want to exploit (or have already indulged in exploiting) information on social media. This could just be a trigger for other insurance companies to do something similar. Once it becomes somewhat well known, then more people will start curating their social media presence. This curation has already been a big thing on Facebook for other reasons. [1] It's just that the companies may not derive any real value out of such exercises in the long run.

[1]: https://stratechery.com/2016/what-facebook-is-and-isnt/ - this is a great read on this topic of how people present themselves on Facebook

Re: Admiral to price car insurance based on Facebook posts

Re: Admiral to price car insurance based on Facebook posts