Will Google Enter The Insurance Industry?

Re:Will Google Enter The Insurance Industry? by zaroth on Sunday June 22, 2014 @02:52AM (#7927116)

I think the more you reduce your pricing based on being able to exclude buyers using secret criteria, the more you run the risk of failing to exclude the riskier population, and under-pricing your product as a result.

If the conditions for purchase are stated in the contract, then in a sense, you know exactly what you are getting, and you can price more accurately.

If pricing is based on something like secret tracking or user surveillance, these are necessarily factors the buyer hasn't explicitly agreed to disclose to you.

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Re:Will Google Enter The Insurance Industry? by droopyEyelids on Sunday June 22, 2014 @03:20AM (#7927150)

I'm super curious about the limitations of information an insurance company can use to profile you. Do you have to agree to every factor explicitly? Or could Google throw in something like "...and factors based on your interaction with Google products"

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Re:Will Google Enter The Insurance Industry? by zaroth on Sunday June 22, 2014 @03:37AM (#7927176)

I'm going to bet you won't see Google peeking at your bathroom scale, without telling you first, and using that to give you better life insurance.

Now, I would bet that they let you OPT-IN to sharing that data, in order to qualify for a discount, which is effectively changing the price curve.

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