“…three of the state’s largest auto insurers charge blue-collar workers significantly more than college-educated professionals with the same driving record.”
This is very true and completely sad. In most states the segment the rates based on territory. In places like NY the only way to properly segment the market is through education. Insurance Scoring was tough to swallow, but at least you can see a correlation. Good or Bad credit can be a good indicator of risk.
But education is an unfair use of statistical discrimination, especially when two individuals have the same exact driving record.
“…three of the state’s largest auto insurers charge blue-collar workers significantly more than college-educated professionals with the same driving record.”
This is very true and completely sad. In most states the segment the rates based on territory. In places like NY the only way to properly segment the market is through education. Insurance Scoring was tough to swallow, but at least you can see a correlation. Good or Bad credit can be a good indicator of risk.
But education is an unfair use of statistical discrimination, especially when two individuals have the same exact driving record.