Reality TV viewing for underwriters: Keeping up with the insured
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Making controversial news this week is John Hancock Insurance Co.’s proposal to lower life-insurance rates for people who choose to wear a fitness tracker.
Meanwhile, 8% of Americans would be OK with their insurer installing video cameras in their homes, according to the results of an online survey conducted by the student-loan firm LendEDU from August 2017 to August 2018 in which 1,000 people were interviewed.
The survey results, released Tuesday, aimed to highlight a growing concern with insurance companies accessing private information and data on risk before issuing policies.
In total, 72% of respondents were against insurance companies accessing private data. But for a small group, if access comes with a cheaper policy, then so be it: While 8% are OK with video recordings of daily life, 11% would allow a biometric device to be installed in their body, and 18% say they would permit access to DNA.
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