Insurance discounts for sharing data and allowing tracking

How much of your data are you willing to share and what do you expect to get in return?

BHPian NG_EV recently shared this with other enthusiasts.

I was listening to an EV podcast where the host asks a question weekly. 2 weeks ago, he asked a question regarding data sharing and discounts. This was because there was a discussion going around Rivian offering insurance on their own. According to an article, Rivian states that this will allow shorter turn around times and a lower premium than third party insurance. In addition to this, Rivian also offers discounts to those customers who opt in and use "driver aids". But these driver assistance features are through connected car services and require that the company tracks how often these features are used.

The question that the host asked was as EVs are mostly connected cars and have a lot of smart technology in them, how much of your data are you willing to share and what do you expect to get in return? Are you ok with discounts such as those offered by Rivian?

These discounts are not new in insurance industry. Apollo Munich was offering a discount of up to 8 or 9% if an app was installed and that app allowed tracking of the user's physical activity.

My answer to this question would be no. I do not want a discount in exchange for tracking. I am okay with minimal connected car experience. When I purchase an EV, the only thing I want monitored is battery health. Some companies offer remote battery health monitoring and alert users if there is anything wrong with the pack. I feel that such information should be available on-board the car itself and should not require any remote monitoring.

What are the community's opinions on this? Please do reply.

Podcast link

Rivian insurance news

Here's what BHPian warrioraks had to say on the matter:

Insurance companies are typically good at finding ways to reject claims. Giving them more data is like digging your own grave when it comes to insurance matters.

Not saying that we should hide data but I would share only on need to know basis.

Here's what GTO had to say on the matter:

No way would I be comfortable with that. Warrioraks put it well. Plus, there are times when I drive hard & push the car hard. I don't want that to be held against me in an unrelated car accident although - *touches wood* - I haven't crashed a car in almost 30 years now. Plus, it's a bit freaky knowing that a 3rd-party insurance company is tracking your every move.

Here is BHPian Rajeevraj's insurance coverage with telematics thread (tracking) and BHPian Locusjag's thread on usage-based insurance.

Check out BHPian comments for more insights and information.