Re:Mercury Spill
by zaroth on Friday October 09, 2015 @02:07AM
(#10358418)
Properly rating a potential customer seems to me like the key metric for these companies and if I can find a way to better qualify risk and therefore offer lower prices to truly less risky customers that equals profit. So I'm pretty sure there is very strong competition in this area and insurance companies will do absolutely everything they can to ascertain the risk of each individual customer and price a policy accordingly.
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Re:Mercury Spill
by danieltillett on Friday October 09, 2015 @07:42AM
(#10359378)
You would think so, but if it is being done on a blanket basis then it would suggest that not too much looking into the individual situation is being done.
Competition only works if at least one of the parties involved is trying to compete. If all the insurance companies are happy to slap on a blanket risk premium then there is no competition. This is great if you want to disrupt the status quo.