Tag: ethical considerations

Texas Files Lawsuit Against Allstate Over Alleged Illegal Data Collection Practices

G. Turner
Allstate data collection

Allegations of Unauthorized Tracking The state of Texas has launched a lawsuit targeting Allstate, one of the nation’s major insurers, accusing the company of illegally collecting and utilizing driver data without consent. This lawsuit, filed by Attorney General Ken Paxton, asserts that Allstate created an extensive “driving behavior database” using data obtained from over 45 million Americans. This database, reportedly developed by Allstate’s data analytics subsidiary, Arity, allegedly relied on tracking technology embedded into mobile applications without users’ knowledge. The complaint further claims that Allstate profited by leveraging this data…

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Gen Z’s Truth About Lying: A Tech Revolution in Insurance

G. Turner
Gen Z - Masks

In an unexpected twist, the high rate of insurance application falsifications by Gen Z has become a catalyst for technological advancements within the insurance industry. NerdWallet’s 2024 Insurance Dishonesty Report reveals that 42 percent of Gen Z-ers have admitted to lying on insurance applications to secure better rates. This trend, while initially alarming, is driving significant innovation in how insurers handle data and assess risk. Generational and Gender Perspectives on Insurance Dishonesty Emerging trends highlight a generational and gender divide in attitudes towards insurance dishonesty. Men are generally more inclined…

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Revolution or Invasion? Automakers Sharing Driving Data with Insurance Companies

Live Insurance News
driving data insurance

In the recent article titled, “Automakers Are Sharing Consumers’ Driving Behavior With Insurance Companies,” by the New York Times,  the argument unfolds around the alliance between automakers and insurance firms. The central tenet of the paper uncovers a practice where car manufacturers transmit driving behavior data to insurers. This article explores the potential ramifications on insurance premiums, privacy concerns and consumer habits. The Impact on Insurance Premiums The sharing of driving data stands to revolutionize the insurance industry. On one hand, it can be a boon for safe drivers who…

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