Allstate's Car Insurance Algorithm: How Insurance Algorithm Squeezes Big Spendersby@TheMarkup

Allstate's Car Insurance Algorithm: How Insurance Algorithm Squeezes Big Spenders

tldt arrow
Read on Terminal Reader
Read this story w/o Javascript

Too Long; Didn't Read

Allstate Corporation told Maryland regulators it was time to update its auto insurance rates. The insurer said its new, sophisticated risk analysis showed it was charging nearly all of its 93,000 Maryland customers outdated premiums. Allstate said the goal of this new customer “retention model” which it was rolling out across the country, was to limit policy cancellations from sticker shock. The Markup and Consumer Reports conducted a statistical analysis of Allstate’s price-adjustment algorithm. It resulted in a suckers list of Maryland customers who were big spenders.

People Mentioned

Mention Thumbnail

Companies Mentioned

Mention Thumbnail
Mention Thumbnail
featured image - Allstate's Car Insurance Algorithm: How Insurance Algorithm Squeezes Big Spenders
The Markup HackerNoon profile picture

@TheMarkup

The Markup


Receive Stories from @TheMarkup

react to story with heart

RELATED STORIES

L O A D I N G
. . . comments & more!
Hackernoon hq - po box 2206, edwards, colorado 81632, usa