.@ianmsyme @mellojonny Yes, good piece. Except "But no one has concerns about the report" bit of course @amcunningham.
Not strictly no one..
@atm0spheric @amcunningham @ianmsyme @mellojonny It is, but in this case, only 1 player gets to assess risk - public just get told the price
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@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 -
@C7RKY@amcunningham@ianmsyme@mellojonny Shorthand. Perhaps it's more accurate to say less data or less well founded data. -
@atm0spheric@amcunningham@ianmsyme@mellojonny Yes. Less well-founded data, meaning they get it wrong slightly more often, thus paying out -
@atm0spheric@amcunningham@ianmsyme@mellojonny With this data they refine that position, avoiding more claims/providing cover in 1st place -
@atm0spheric@amcunningham@ianmsyme@mellojonny At v least charge more if they see new risk. Profits go up, payouts go down...public lose!
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@C7RKY@amcunningham@ianmsyme@mellojonny Which is why I believe the analysis should be done by the NHS & published, not sold for best bid. -
@atm0spheric@amcunningham@ianmsyme@mellojonny Published for who to use? If you still intend to let insurance companies see it, then no. -
@atm0spheric@amcunningham@ianmsyme@mellojonny Not unless it's to help them introduce cover for a new condition (to them) because they > -
@atm0spheric@amcunningham@ianmsyme@mellojonny have yet to establish any claims experience for that. Morally justified then. Not otherwise
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@atm0spheric@amcunningham@ianmsyme@mellojonny And that's assuming they aren't excluded because of insight this data provided to insurersThanks. Twitter will use this to make your timeline better. UndoUndo
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@C7RKY@amcunningham@ianmsyme@mellojonny That doesn't justify poor data! But I agree - public should be given the same information. -
@atm0spheric unfortunately many poor people couldn't afford to move somewhere which would reduce their premium@C7RKY@mellojonny -
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@amcunningham@atm0spheric@mellojonny You think this is just about where you live? This is SO much more than that. So much... -
@C7RKY@amcunningham@mellojonny Yes - the philosophy is a transferrable abstraction. The specific report was about wealth and environment.
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