Having worked for one big insurance company and having had a couple
others as clients I wanna' add my two cents.
Think of insurance companies as bookies. They're making book on your
health, life span, driving skill etc.
(They also make an enormous of money by counting on consumer's being
idiots and buying insurance for expenses they know they will have. i.e.,
routine dental or optical care, braces etc. The real winner for them is
insuring cars that aren't collateral for a loan. Statistically speaking,
people who own their cars clear have an incredibly low claim rate.)
Now remember these guys are bookies. All they care about is eliminating
downside. So in terms of cars it's an easy game. Don't write policies on
cars that are owned by people that are going to use them. When the car
is in the garage that's the Zen Moment for these people because then
it's a homeowners policy claim.
By getting your name on a web site that covers what happened when you
used your car they can identify you as someone that ACTUALLY uses your
car for more than commuting & groceries, maybe even as someone who may
use said car more than average. More use leads to more risk. Risks could
cost money and bookies hate to lose.
AND here's why this list cares about all this. Progressive, PGR, is a
very widely held public company. If you've got a pension or mutual fund
you probably are a stock holder and thus you benefit by their
risk-averse behavior.
Now back to our regular programming.
e
#72 FP
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