Allstate Insurance CEO Tom Wilson says that in the future the corporation will seek to sell customer driving data, similar to how Google sells data from people who use its search engine. He says it’s one way that the company will adapt to a future with self-driving vehicles, when auto insurance may not be as necessary due to decreased traffic accidents.
Insurance companies are already analyzing customer habits to better understand risks and adjust insurance premiums. Some companies are even collecting data on driving behaviors via aps that drivers download. If the driver conducts safe driving behaviors, he or she may receive a lower insurance premium. Unsafe behaviors may result in a standard or even higher premium, though.
Wilson stated that advertisers may be interested in consumer travel behaviors over time, to see when they are on the road and where they go at different times of day. He suggests that in addition to an extra source of income for Allstate, that selling that data to advertisers may provide an enhanced value proposition to Allstate customers. What do you think? Is an insurance company selling information about where and when you drive an added value to you?