Moving insurance more back to the way it was before computers

Reader comment on: Health Insurance and Smoking

Submitted by Lyle (United States), Apr 30, 2013 23:44

Before computers insurance tended to have fewer rates and rating because the human computers involved were very expensive compared to todays silicon ones. As a result insurance was more of a share the risk than today. Actually community rating moves back to this somewhat where all pay the same rate and share the risk. The complexity of insurance today is IMHO at least partly an unintended result of the computer revolution making slicing and diceing of data to get more rate categories much easier.

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