Car Insurance Company Sniffs Facebook Posts To Set Customer Premiums

first_imgWhat you post on social media reveals a great deal about what kind of person you are. And now there’s an insurance company that wants to use those revelations to set prices.Admiral, one of Britain’s largest insurance companies, believes that their algorithms can tell whether or not customers are responsible drivers just by analyzing their Facebook posts. It’s all about word choice. According to an Admiral spokesperson who sat down with the Guardian, using words like always and never — which might indicate that you’re an overconfident person. That’s a red flag when it comes to driving.They’re not using what they find on Facebook to penalize customers or deny coverage. Instead, Admiral says that they’ll only use the data to offer discounts. Decent ones, too. Admiral’s customers can reportedly save up to $430 a year on their premiums by letting the company check our their Facebook activity.This might sound creepy to some, and there may be people out there who see it as an invasion of privacy. Admiral is quick to point out that the service — which they call firstcarquote — is an opt-in thing. They’re also trying to be as transparent and discrete as possible.Admiral doesn’t continuously track you once you’re on board, either. It’s a one-time thing, they say, and all they’re looking at are likes and posts. They don’t do any kind of analysis on photos or videos.For a teen who’s just received his or her license, the possibility of saving a few hundred dollars may be all the incentive they need to give Admiral access. It’s not like they have any driving history to prove that they’re responsible on the roads.Admiral says they’re blazing a trail with firstcarquote. They feel like it’s something that could transform the insurance industry, and they’re absolutely right. If it improves the bottom line for Admiral, it won’t be long before other insurers start turning to Facebook to assess their customers. I’m picturing companies that insure smartphones being very, very interested in doing something like this.last_img

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