Re:Allstate used GasBuddy and other apps to track driving be...
by eptcyka on Tuesday January 14, 2025 @12:28PM
(#42700548)
Can you provide some sources on this? Genuinely interested to learn more.
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Re:Allstate used GasBuddy and other apps to track driving be...
by dghlsakjg on Tuesday January 14, 2025 @01:00PM
(#42701105)
Their financial reports have the numbers plain as day: https://www.allstateinvestors.com/static-files/d61a8007-647a...
Page 2 has their premiums collected and their claims paid. They are down 5 billion in 2022 and 2023. Haven't seen the full results for 2024 yet.
For an explanation of why, Warren Buffets letters to investors explain the insurance industry as a whole pretty well (page 7): https://www.berkshirehathaway.com/letters/2013ltr.pdf
Pretty consistently, the industry as a whole loses money on policies.