Insurance Price Optimization
Published
Aug 08 2018 at 2:00 PM GMT
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- MoneyTipsIt makes sense that if you have a car accident, your insurance premium could go up.
- What doesn't make sense is that if you don't have an accident, you could also end up paying more, for no reason at all.
- The explanation behind such price hikes is that more and more insurance companies are adopting a practice called "Price Optimization.
- This involves analyzing data on consumers to find out who will shop around and who won't.
- If a computer algorithm estimates that you aren't likely to be a savvy sho.
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- Published Aug 8, 2018 2:00 PM GMT