This morning, LendEDU published the results of our study of 1,000 Americans to find out how consumers felt about the rapidly increasing trend of insurance companies using personal data to determine risk before issuing a policy.
Check out the full results here: https://lendedu.com/blog/insurance-companies-using-data-survey/
A few key findings included:
- Only 15% of respondents believe insurance companies should be allowed to use big data to determine risk in a potential insurance policy. 72% do not think this should be allowed.
- 55% of respondents think insurance companies accessing private data is just as threatening as tech companies like Facebook doing the same.
- 18% of respondents would be OK with insurance companies accessing their DNA if it led to them getting a cheaper policy. 8% would allow a camera to be installed in their home, while 11% would allow for a biometric tracker to be installed in their body...
This may seem like a crazy premise, but this is becoming the new norm for insurance companies. Not long ago, ProPublica published an article detailing how insurance companies are predicting health costs by things like how much TV you watch or what you like on social media.
We just took the concept a step further and put actionable data behind it, and I encourage you to share that data with your readers.
