Insurance Agency Singapore | Commercial Insurance and Personal Insurance

  • Products
    • Commercial Insurance
      • Work Injury Compensation
      • Public Liability
      • Foreign Worker Medical
      • Foreign Worker Bond
      • Fire/Burglary Insurance
    • Personal Insurance
      • Motor Insurance
      • Travel Insurance
      • Home Insurance
      • Personal Accident
      • Domestic Maid Insurance
  • Support
  • Contact Us
  • Blog
  • About Us

Auto Insurance Premiums Based on Facebook Posts? No, Says Facebook

6 December 2016 By admin Leave a Comment

fbpic

Facebook put the kibosh on a planned application from U.K. insurance firm Admiral that would have determined auto insurance premiums based on information gathered from customers’ posts on the social network.

The insurance company billed its firstcarquote service as “insurance for the digital generation,” saying on its website:

firstcarquote is a new insurance service created by Admiral to help people who are buying or driving their first car. As well as helping new drivers get cheaper car insurance, firstcarquote can help drivers who haven’t bought a car yet figure out which make and model will be cheapest for them to insure.

New drivers are often quoted much higher insurance premiums as they have little driving history, zero no claims bonus and are viewed as “high-risk.” But we want to help make sure safe drivers aren’t penalized and get the best price possible.

Admiral’s plan for firstcarquote had been to prompt users to grant it access to their data on the social network via Facebook Login, and then use an algorithm to determine their safe driving potential and base their premiums on that information, but that plan has apparently been scrapped.

In the frequently asked questions section of the firstcarquote, a revised description now appears:

I heard that your algorithm would scan my posts and page likes to assess whether I’ll be a safe driver, and give me a larger discount based on that analysis. A previous version of firstcarquote allowed you to share additional data with us. However, the current version of the product does not have this feature. We do not have access to customers’ Facebook data, and never had access to anything that customers didn’t voluntarily share with us.

See full story at  www.adweek.com

Share this:

  • Facebook
  • Twitter
  • LinkedIn

Filed Under: Happenings Tagged With: auto insurance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Categories

  • Domestic Maids
  • Golf
  • Happenings
  • Health
  • Homepage
  • Industry
  • Interesting Stuff
  • Products
  • Tips
  • Uncategorized

Contact Us

  • 1 Soon Lee Street #02-43, Pioneer Center, Singapore 627605
  • Tel: 68978226
  • Fax 68978086
  • Business Hours:
  • Mon – Fri: 8am – 6pm

Our Location

At the west side of Singapore, our office sits on the second floor of the building.

1 Soon Lee Street
#02-43, Pioneer Center
Singapore 627605

Our Products

  • Fire/Burglary Insurance
  • Foreign Worker Bond
  • Foreign Worker Medical
  • Public Liability
  • Work Injury Compensation
  • Domestic Maid Insurance
  • Home Insurance
  • Motor Insurance
  • Personal Accident
  • Travel Insurance

Find Out More

We would love to hear your insurance needs. Tell us all about it by filling up our contact form.

If not, give us a call at +65 6897 8226
or email us at enquiry@credence.agency

Copyright © 2023 | Credence Agency