Insurer now says it can’t mine Facebook data to determine premium rates
Admiral has rowed back from its fanfare launch of a new policy that used Facebook data to set premium levels for first time drivers.
After opposition from the social media giant, Admiral says its firstcarquote scheme won’t have access to customers’ Facebook accounds and won’t hold Facebook data to set prices for its customers.
The original plan was for first-time insurers to give Admiral access to their Facebook accounts so the insurer could assess the young driver’s safety profile and set an appropriate premium. Admiral pointed to the fact that premiums for young drivers are extremely high and often unaffordable.
Now, Admiral says drivers will be able to “voluntarily share some social data with insurers for a simple and discounted quote”.
”Admiral does not have access to customers’ Facebook data and does not hold social media data to set prices for its customers,” the insurer said.
”Following discussions with Facebook the product is launching with reduced functionality, allowing first time drivers to login using Facebook and share some information to secure a faster, simpler and discounted quote.”