Car insurance is making its way towards variable pricing on how much and how well you drive. Health insurance will inevitably start to care about what you eat and how much you exercise. Technology enables much more accurate and precise assessment of risk, and businesses with a lot of money riding on good risk assessment (banks, insurance companies) would be stupid not to take full advantage of that. If markets tend towards efficiency, this will happen.
And I'm not sure that's a bad thing. Being young and male, I pay for the sins of my demographic category in car insurance premiums. I'd much rather pay for my actual driving style. Similarly, credit risk can probably be assessed by actual spending behavior rather than history.
If you find it uncomfortable that lending institutions and insurance companies might act in the most rational, efficient manner, consider whether you're really comfortable with capitalism.
And I'm not sure that's a bad thing. Being young and male, I pay for the sins of my demographic category in car insurance premiums. I'd much rather pay for my actual driving style. Similarly, credit risk can probably be assessed by actual spending behavior rather than history.
If you find it uncomfortable that lending institutions and insurance companies might act in the most rational, efficient manner, consider whether you're really comfortable with capitalism.