This article touched on the fact that additional information these sensors provide is interpreted in a traditional context.
"Early company surveys of people’s interest in usage-based insurance revealed that about 40% of people had a viewpoint that was some variation on “No way in hell.”
followed by
"Progressive concluded Snapshot was overestimating the potential for accidents from midnight to 4 a.m. driving on week nights, and now considers late-night driving to be high-risk only on weekends."
That's why people don't want to tell their insurance company anything more than the minimum. The insurance companies thought driving at night was risky and it wasn't until they had snapshot telling them that just because someone works 3rd shift isn't an inherently higher risk did they not pull their head out of their butt. So now, via snapshot they can offer competitive rates to people on 3rd shift whereas before they'd just have jacked the rates on the few that were unlucky enough to file a claim for something happening in the evening. Um, hooray?
"Early company surveys of people’s interest in usage-based insurance revealed that about 40% of people had a viewpoint that was some variation on “No way in hell.”
followed by
"Progressive concluded Snapshot was overestimating the potential for accidents from midnight to 4 a.m. driving on week nights, and now considers late-night driving to be high-risk only on weekends."
That's why people don't want to tell their insurance company anything more than the minimum. The insurance companies thought driving at night was risky and it wasn't until they had snapshot telling them that just because someone works 3rd shift isn't an inherently higher risk did they not pull their head out of their butt. So now, via snapshot they can offer competitive rates to people on 3rd shift whereas before they'd just have jacked the rates on the few that were unlucky enough to file a claim for something happening in the evening. Um, hooray?