>> The whole point of insurance is to manage risk by spreading it across all consumers.
Yes, but this does not imply that customers with (potentially vastly) different risk profiles should pay the same rates.
The canonical example is that 18-year-old single males with previous speeding tickets pay more for auto insurance than married 40-year-old women with clean driving records.
Yes, but this does not imply that customers with (potentially vastly) different risk profiles should pay the same rates.
The canonical example is that 18-year-old single males with previous speeding tickets pay more for auto insurance than married 40-year-old women with clean driving records.