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UK Auto Insurer Will Use Facebook Data To Set Premium (thestack.com)
An anonymous reader writes: Major UK insurer Admiral has announced that it will use data garnered from Facebook profiles to help set insurance premiums for first-time drivers. The company intends to examine Facebook data including likes and posts for safe driver indicators: writing in short, concrete sentences and making concrete plans with friends using specific times and dates, rather than just 'tonight', for example, can show that a person is conscientious and well-organized, as can the use of lists. These traits are associated with safer drivers, who are less likely to file a claim with the company. Yossi Borenstein, the principal data scientist for the project, noted that the indicators of safe drivers are constantly evolving. "Our algorithm for calculating what 'safe' looks like is constantly learning, as we match social data to actual claims data." The program has already caused a storm of controversy, with some privacy rights activist groups noting that the program violates Facebook's Platform Policy, Section 3.15, which clearly says,"Don't use data obtained from Facebook to make decisions about eligibility, including whether to approve or reject an application or how much interest to charge on a loan."
When Facebook says you’re being too evil, that should be a wake up call. . .
The insurance cartel would probably convince the government that this would be insurance fraud or something stupid; I wouldn't put it past them.
I remember the good old days, when insurance companies used myspace to set insurance premiums.
Now get off my lawn!
I remember the days when my driving record set my premium!
Bull crap! American companies better not start doing this too. I'm one of the few people who does not use Facebook, or any social media for that matter. If a company starts using Facebook data to determine things about me, they better ASSUME THE BEST or it is downright discrimination. So for auto insurance, I better get the best rate, as if I had everything they were looking for on my non-existing Facebook account.
Just like how they assume the best about you when you apply for a mortage and have no credit history because you don't use credit cards, and use a pre-paid phone, etc?
Good luck with that.
On the upside at least, if your someone who doesn't use facebook, you can hire someone to create a profile for you, and have them go around liking 'seatbelts'*1, non-alcoholic beer *2, MADD, Volvo Wagons *3, and making periodic posts saying you will be picking up the milk, bread, cheese, and organic lettuce, at the whole foods*4 at 321 Main Street, at 4:35 pm (*5), unless it is raining*6
*1 - safety!
*2 - non drinker
*3 - boring and safe
*4 - healthy!
*5 - organized and precise
*6 - because you don't make unnecessary trips if it is raining.
* (indicating your are very health conscious)