Consumers Will Submit To Tracking To Obtain Lower Insurance Rates, Study Finds

Insurance shoppers are just as conflicted about privacy as other consumers, judging by a new study conducted by Mike Brown, director of communications at insurance technology (insurtech) company Breeze.

On the one side, 56% say insurance companies should not be allowed to use Big Data — i.e., personal daily health data, consumer purchases — to determine insurance pricing. 

People ages 35-44 are most likely to say yes to this, and those over 55+ to give an emphatic no.

But insurance shoppers are remarkably willing to provide information to insurers through regular tracking. For instance:

  • 55% would wear a biometric tracker such as a Fitbit to track their health and fitness. 
  • 52% would let a pet insurance company track their pet’s activity and eating habits. 
  • 52% are willing to have a tracking device installed in their car to monitor driving activity & safety.
  • 52% would be fine with a company monitoring their in-home equipment — i.e., their Nest thermostat and carbon monoxide reader.
  • 51% would allow an insurance company to monitor their pharmacy prescriptions & other medical adherence behaviors.
  • 42% are fine with an insurance company accessing and analyzing their DNA
  • 42% are agreeable to an insurance firm monitoring their personal activity and purchases (grocery receipts, gym activity, Amazon purchases, etc.).
  • 34% are open to n insurance company installing a camera in their home to monitor their everyday activity — say, eating and exercise habits.
  • 34% don’t mind if an insurance company monitoring their internet & social media activity.



Again, these findings depend on the age group. For instance, 89% of people ages 55+ oppose installation of a camera, as do 70% of those in the 18-24 cohort and 66% of those who are ages 45-54.

The report also states 85% would trust an established insurance carrier over a newer insurtech startup when shopping for a policy. That includes 91% of those age 55+ and 82% of the 18-24 age group. 

And, 53% would choose in an insurer with a completely online process that uses data to price policies instead of an in-person medical exam.

Breeze surveyed 1,000 U.S. consumers, according to Brown. 


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