Home Page Home Page Newsletter Contact Us Get A Quote Life Insurance Employee Benefits Business Insurance Personal Insurance
Get A Quote

 

            Whether or not you agree with the data-gathering practices of the government and private and publicly held companies, there is no doubting the fact that various entities want to know as much about us as possible. Insurance companies, of course, feed on data that helps them assess risk. For example, the more auto insurers know about drivers’ specific behaviors, the better they are able to properly price premiums. Even now, some insurance companies are collecting data about driving habits by analyzing the data collected by sensors in policyholders’ vehicles. These sensors are able to record information about what routes are driven, the number of miles driven, the time of day, speed, and braking patterns. Call it “custom risk assessment.”

 

NOTE: By comparing the driving data of one person with statistical information of similar drivers on similar routes and similar times, insurance companies may be able to tell if a chosen driver is an above- or below-average risk, and charge accordingly.

Posted 12:27 PM  View Comments

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
JED Insurance and Financial Service Agency, Inc I 30 Mechanic St. Ste 5 I Foxborough, MA 02035                                                 Powered by Insurance Website Builder
                                                                                                                                                
Privacy Policy  &  Terms of Use     

 

© Copyright 2013 J.E.D. Insurance and Financial Services, Inc. All Rights Reserved.

 

 

Home Page About Us Our Services Newsletter Get A Quote Contact Us Home Page Like us on Facebook LinkedIn