Back in the mid 90’s through 2003 I worked for a nationwide comparative rating vendor that had several lucrative contracts with Progressive. In that capacity I worked closely with and am still friends with several people at Progressive. I remember them talking about this monitoring project since as far back as ’95 at least. They would love for it to take off so they can dispense with the agents and their commissions, but it just has never has gained the public traction needed to be viable.
At the end of the day it is still the same size pie. Whether its credit scoring, short or long annual, rated by age or zip code or territory, it is still the same pie. Losses are losses, and are payable. Where else does the money come from? Are they printing it while sitting in traffic in the swamps of jersey?
First of all I had no clue New Jersey had the highest rates for car insurance. Second, this device really seems to be pushing the envelope as far as intruding on people’s lives. For now it’s voluntary but at what point will it be required?
Well the way people drive in NJ no one will be getting discounts. You either drive 20 miles over the limit or get run over or you sit in bumper to bumper traffic hitting you brakes every 5 seconds. No win situation for drivers there!!!
Big Brother. We are looking at the future and the future does not look bright. Why not have the health carriers put moniors on our bodies to check physical activity, calories eaten, alcohol and drugs consumed and number of hours sleeping and doing other things. This is not what technology was created for.!!! Don’t sit back and let it happen.
This is indeed troubling. Right now it’s private and voluntary and that’s fine but what if government adopts this technology in the name of public safety?
“IF” the citizenry was serious about controlling insurance costs it would support the following:
1. allow insurance carriers to manage the vehicle repair process through “direct repair shops”. After all, the average Joe (or JoAnn) knows jack about car repairs. And there is no conspiracy among insurance carriers to screw the public by condoning crap repairs.
2. damages for bodily injury should be limited to pecuniary damages only. Medical expenses, “extra expenses” incurred as a result of the injury, and lost wages. No more “general” damages aka profit. You assume a risk by getting behind the wheel. Money doesn’t make you heal faster for feel better. It would clear the backlog of personal injury suits and thin out the “herd” of personal injury attorneys.
Metered services in general don’t seem to be very well accepted. The phone company tried it without success and the cable companies looking to limit/monitor internet usage aren’t faring well. Power companies tried it in the name of load management and it seemed to have fizzled.
One thing’s for sure – this will be rolled out in the name of ‘saving the children’ or by the ‘number of lives’ that would be saved. Big brother indeed.
Heath insurance monitorin devices? I love that idea. Why am I paying more for my insurance to offset the costs of the rest of you and your self-destructive behaviors.
If you’re fat, smoke like a chimney, drink like a fish, sit around watching Oprah and eating 3000 calories a day you SHOULD pay more for insurance.
Similarly, if you’re driving like you’re on the autobahn while drunk off your butt at 3AM every night you should pay more too.
Similarly, if you have a car that you use only on weekends to go to church and the grocery store then you should pay less.
C’mon here. It’s common sense. This is just another way to determine actual risk.
Oh sure, we COULD just ask our customers if they’re morons but they’re going to lie. I’ve written a policy for a truck that I saw in my parking lot with a business name stenciled on the doors and more tools and ladders than I’d ever seen. The guy told me it was just his weekend car and I almost laughed in his face.
Although it is true that the device may intrude on the way you drive, if you actually drive the proper way by keeping a good following distance and not excelerating to fast you will not have to worry. But, there are times when you may have to brake hard will your insurance go up because some one cuts you off?
I don’t like it. There’s no need for this unless you are a terror of the highway suspect and then it should be the courts thatimpose it. It starts out voluntary and before long cause of the law of adverse selection everybodys insurance company requires it. Same thing progressive did for credit rating and insurance scores.
Back in the mid 90’s through 2003 I worked for a nationwide comparative rating vendor that had several lucrative contracts with Progressive. In that capacity I worked closely with and am still friends with several people at Progressive. I remember them talking about this monitoring project since as far back as ’95 at least. They would love for it to take off so they can dispense with the agents and their commissions, but it just has never has gained the public traction needed to be viable.
At the end of the day it is still the same size pie. Whether its credit scoring, short or long annual, rated by age or zip code or territory, it is still the same pie. Losses are losses, and are payable. Where else does the money come from? Are they printing it while sitting in traffic in the swamps of jersey?
First of all I had no clue New Jersey had the highest rates for car insurance. Second, this device really seems to be pushing the envelope as far as intruding on people’s lives. For now it’s voluntary but at what point will it be required?
Well the way people drive in NJ no one will be getting discounts. You either drive 20 miles over the limit or get run over or you sit in bumper to bumper traffic hitting you brakes every 5 seconds. No win situation for drivers there!!!
Big Brother. We are looking at the future and the future does not look bright. Why not have the health carriers put moniors on our bodies to check physical activity, calories eaten, alcohol and drugs consumed and number of hours sleeping and doing other things. This is not what technology was created for.!!! Don’t sit back and let it happen.
This is indeed troubling. Right now it’s private and voluntary and that’s fine but what if government adopts this technology in the name of public safety?
“IF” the citizenry was serious about controlling insurance costs it would support the following:
1. allow insurance carriers to manage the vehicle repair process through “direct repair shops”. After all, the average Joe (or JoAnn) knows jack about car repairs. And there is no conspiracy among insurance carriers to screw the public by condoning crap repairs.
2. damages for bodily injury should be limited to pecuniary damages only. Medical expenses, “extra expenses” incurred as a result of the injury, and lost wages. No more “general” damages aka profit. You assume a risk by getting behind the wheel. Money doesn’t make you heal faster for feel better. It would clear the backlog of personal injury suits and thin out the “herd” of personal injury attorneys.
Metered services in general don’t seem to be very well accepted. The phone company tried it without success and the cable companies looking to limit/monitor internet usage aren’t faring well. Power companies tried it in the name of load management and it seemed to have fizzled.
One thing’s for sure – this will be rolled out in the name of ‘saving the children’ or by the ‘number of lives’ that would be saved. Big brother indeed.
Heath insurance monitorin devices? I love that idea. Why am I paying more for my insurance to offset the costs of the rest of you and your self-destructive behaviors.
If you’re fat, smoke like a chimney, drink like a fish, sit around watching Oprah and eating 3000 calories a day you SHOULD pay more for insurance.
Similarly, if you’re driving like you’re on the autobahn while drunk off your butt at 3AM every night you should pay more too.
Similarly, if you have a car that you use only on weekends to go to church and the grocery store then you should pay less.
C’mon here. It’s common sense. This is just another way to determine actual risk.
Oh sure, we COULD just ask our customers if they’re morons but they’re going to lie. I’ve written a policy for a truck that I saw in my parking lot with a business name stenciled on the doors and more tools and ladders than I’d ever seen. The guy told me it was just his weekend car and I almost laughed in his face.
Hey Anon, I don’t watch Oprah!.
Although it is true that the device may intrude on the way you drive, if you actually drive the proper way by keeping a good following distance and not excelerating to fast you will not have to worry. But, there are times when you may have to brake hard will your insurance go up because some one cuts you off?
I don’t like it. There’s no need for this unless you are a terror of the highway suspect and then it should be the courts thatimpose it. It starts out voluntary and before long cause of the law of adverse selection everybodys insurance company requires it. Same thing progressive did for credit rating and insurance scores.