Tag: ethical considerations

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…

Read More

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…

Read More