If you thought #caredata couldn't possibly get any worse, you were wrong: …http://wishfulthinkinginmedicaleducation.blogspot.co.uk/2014/02/politicians-badly-briefed-about-data.html … HT @amcunningham
@atm0spheric @amcunningham @ianmsyme @mellojonny It doesn't follow that best data = best deal. In fact, far from it. Helps avoid risk/payout
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@C7RKY@amcunningham@ianmsyme@mellojonny It's better if they all have the best data than if only those making big profits do. -
@atm0spheric@amcunningham@ianmsyme@mellojonny They combine claims experience/use actuaries to achieve that anyway. This is stacking deck. -
@C7RKY@amcunningham@ianmsyme@mellojonny It is important that customer also knows risk factors. -
@atm0spheric@amcunningham@ianmsyme@mellojonny It is, but in this case, only 1 player gets to assess risk - public just get told the price -
@C7RKY@amcunningham@ianmsyme@mellojonny Others would say if all insurers have best data then market will ensure price reflects risk. -
@atm0spheric@amcunningham@ianmsyme@mellojonny Market? Let's remember it's financial svcs regulation we're talking about. Track record? -
@C7RKY@amcunningham@ianmsyme@mellojonny Yes! But leaving them with poor data won't tame that jungle! -
@atm0spheric@amcunningham@ianmsyme@mellojonny What poor data? Where's this poor data come from? They've plenty of their own, quality data - 4 more replies
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@atm0spheric@amcunningham@ianmsyme@mellojonny Re risk, this is the same argument as whether we shd let the banks go bust. What say you?Thanks. Twitter will use this to make your timeline better. UndoUndo
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@C7RKY@amcunningham@ianmsyme@mellojonny Best data best helps them to do what they do. Customer decides whether (s)he likes what they do. -
@atm0spheric@amcunningham@ianmsyme@mellojonny This is a 2 player game. Help insurers win, guess who loses? Every contract is only a 'bet'
End of conversation
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