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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."
Too bad facebook blocked it because it makes for a great business opportunity:
You pay me to run a bot that rewrites all your facebook posts to conform to whatever scoring system the insurance companies use to decide that you should get the cheapest possible rates.
If these companies are going to be stupid enough to take data that I have control over and use that to make business decisions that can benefit me, I'm sure as shit going to use that channel to exploit them for every penny I can. Those assholes will get what they deserve.
Step one: Make a Facebook profile (either your first or an additional one) and add a few friends.
Step two: Post lots of short updates matching their expected "safe driver" ruleset.
Step three: Point your insurer at that account and enjoy lower premiums.
I think this is an excellent idea from the insurers, and I encourage anyone I'm about to borrow money from to use the same process. Please.
Dewey, what part of this looks like authorities should be involved?
And it's free for anyone wanting to take it because I'm, to be honest, too lazy to carry it out.
Facebook optimizer.
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We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.