Big data technologies are no doubt recalibrating the insurance industry.
This expanded form of modeling by insurers is incredibly dynamic having an almost limitless range of new variable assumptions and branched connections that will significantly improve and revolutionize how insurers measure risk.
Yes, this means that some will pay less and others more, but with an added chance to get these costs offset via direct sales that eliminates the broker and underwriting expenses. Regardless, it will arguably be more equitable because everyone gets charged a cost closer to their actual risk.
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