A law-breaking society can't support civilized security-----Insurance Premiums Spike As Companies Deny Claims, Pay Out Less

Insurance Premiums Spike As Companies Deny Claims, Pay Out Less - Jathan Sadowski

"...as premiums for everything from home insurance to car insurance skyrocket, more of us are being forced to dwell on the opaque and convoluted insurance industry.

• In the past year, real-estate developers have reported rate increases of up to 50%, and auto insurance has spiked 17%. 
• And the home-insurance crisis is so bad, more people are forgoing coverage each year.

...The direction the industry is heading is to use this flood of data to optimize pricing to the extent that your insurance policy is dynamic and constantly changing. 

For example, insurers are testing new business models like on-demand insurance: Rather than purchase an annual contract for something like car insurance, every time you drive, your insurance would activate, and when you aren't driving, it would deactivate. 

Each of these activations would be treated as a new transaction with a new contract — and a new price.

Driving to get groceries on a sunny weekend morning might cost less than, say, picking up your kids during rush hour on a rainy evening. 

This emerging model is spreading as insurers experiment with new products such as single-day heat insurance that you can activate using a mobile app..