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MSE News: Car insurance company's plans to offer discounts based on social media...
Former_MSE_Lucinda
Posts: 46 Forumite
Facebook has put the brakes on Admiral's discounted quotes to first-time drivers based on social media posts...
Read the full story:
'Car insurance company's plans to offer discounts based on social media posts are blocked by Facebook'
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'Car insurance company's plans to offer discounts based on social media posts are blocked by Facebook'
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Comments
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a Facebook spokesperson said: "Protecting the privacy of the people on Facebook is of utmost importance to us.
Uh, huh...
Unless it involves themselves collecting data, for advertising or selling, that is.
For example: http://www.huffingtonpost.com/2014/06/12/facebook-ad-profiles_n_5487372.htmlConjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
To be fair to Admiral (and I don't work for them) they have come up with potentially an innovative way to offer cheaper insurance for selective risks that they want to target.
They have said that they won't use this to put up prices, just discount those they want on their books. Yes I know there are ways of saying things and most definitely there are ways around that, but if it helps lower some new drivers cost of insurance then that's a good thing.
Insurers are limited by the question sets of the comparison sites, they have to find new ways to stay ahead and offer competitive rates for the right risks.
The general public would be very surprised to know of all the data that is used by insurers when calculating a risk, did you know your supermarket loyalty card stores data on spending and shopping habits and insurers use that?
Which is worse, rating on your social media or rating on how often you shop at certain places?
I'm just trying to provide balance to the article.0 -
paddyandstumpy wrote: »Which is worse, rating on your social media or rating on how often you shop at certain places?
Which is more open to gaming?
It was a bad idea from the get-go.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
How can they relate facebook likes/comments to your driving? Unless you use facebook whilst driving or brag about racing someone and driving in a dangerous manner?
Cynical me thinks they are just going to collect your user data and sell it on and then use some of that money to reduce your premium.
Too cynical?Censorship Reigns Supreme in Troll City...0 -
Maybe they'll judge you by what you have as your profile, eg if you're a boy racer with a car as your photo.
Or if you hang out with the "lads" and go on the slash all the time.0 -
martinlewisjunior wrote: »Maybe they'll judge you by what you have as your profile, eg if you're a boy racer with a car as your photo.
Or if you hang out with the "lads" and go on the slash all the time.
Are you referring to stabbing or weeing? Would seem harsh to load your insurance for a weak bladder...All matter is merely energy condensed to a slow vibration, we are all one consciousness experiencing itself subjectively, there is no such thing as death, life is only a dream, and we are the imagination of ourselves.0 -
Going back to the original article:
Even the 'watered down' scheme should cause some pause for thought...Admiral to launch watered-down social media scheme
Admiral is now preparing to unveil a more basic version of the First Car Quote app, whereby new drivers and first-time car owners will be offered a discount for verifying their identity through Facebook.
A solicitor's firm suggests a way that this info might be used by insurance companies...In relation to road traffic accidents, social media is used to investigate claims which are suspected to have been deliberately set up or ‘staged’ to prove the alleged fault, non–fault party and/or witnesses knew each other before the accident. This is easily done by searching through peoples ‘friends’ or ‘contacts’ if a social profile is open for public viewing.
http://www.bottonline.co.uk/blog/social-media-the-internet-and-insurance-companies
I guess it's good if it helps catch the (more naive) fraudsters.
But on a broader level, it's worth bearing in mind that if you make a claim, your insurer might be reading through your social media to check you out.0
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