Admiral to price car insurance based on Facebook posts
theguardian.com
Admiral to price car insurance based on Facebook posts
1–10 of 52 posts
Re: Admiral to price car insurance based on Facebook posts
#2Good. Hopefully this will make people more aware of the consequences of what they share on the internet. With the IP bill in parliament at the moment looking set to pass with minor amendments, this could not be more timely.
Re: Admiral to price car insurance based on Facebook posts
#3And there goes FB's business model. Nobody is going to post anything once people realize their money is at stake. This seems like a good opportunity for a new friends and family social network.
Re: Admiral to price car insurance based on Facebook posts
#4From the article:
"The scheme is voluntary, and will only offer discounts rather than price increases, which could be worth up to £350 a year. However, Admiral has not ruled out expanding firstcarquote."
This is not a discount for courteous people. What this is is collection of personal data for advertising and data collection (to be resold) and a good way to advertise to people's friends.
And 350 a year? I'll believe it when I see it.
Re: Admiral to price car insurance based on Facebook posts
#5And there goes FB's business model. Nobody is going to post anything once people realize their money is at stake. This seems like a good opportunity for a new friends and family social network.
Or they stop posting what they really think and instead post in a style that gives them the best price.
Re: Admiral to price car insurance based on Facebook posts
#6I think it's a positive innovation since young people are currently assumed to be a very high risk, deservedly so in many cases but not all.
Re: Admiral to price car insurance based on Facebook posts
#7It's interesting because they clearly believe they have workable actuarial data to support this, so in many ways good on them for using the data that's available.
On the other hand, based on the examples given, it seems this is going to penalise people using language incorrectly - which I would assume can be strongly correlated with poor education. So on that basis, they're going to be saying that poor people are worse drivers and so must pay more? Is that ok?
But the biggest upshot of this whole thing is that suddenly there is a potential for real world financial consequences for what people write online. This is a game changer - and one I would imagine Facebook should be quite worried about.
I hope it triggers the start of a general awakening of the people when it comes to the impact of data overshare.
Re: Admiral to price car insurance based on Facebook posts
#8And there goes FB's business model. Nobody is going to post anything once people realize their money is at stake. This seems like a good opportunity for a new friends and family social network.
Or they stop posting what they really think and instead post in a style that gives them the best price.
I can see it spawning a few parody accounts but, more likely, not worth the time required to build a plausible profile?
Re: Admiral to price car insurance based on Facebook posts
#9from the comments: https://www.openrightsgroup.org/press/releases/2016/facebook...
also related: https://www.openrightsgroup.org/blog/2016/facebook-is-right-...
Re: Admiral to price car insurance based on Facebook posts
#10Good. Hopefully this will make people more aware of the consequences of what they share on the internet. With the IP bill in parliament at the moment looking set to pass with minor amendments, this could not be more timely.
That IP bill is a horror show and it's passing with a wink and a nod, I'm fast losing what little faith I had in Government to do the right thing.
We seem to have the worst government we've had in my life time (or perhaps I'm just politically more aware of whats going on).