Researcher from University of Chicago Provides Details of New Studies and Findings in the Area of Information and Data Technologies (Privacy Protection, At What Cost? Exploring the Regulatory Resistance to Data Technology in Auto Insurance): Information Technology – Information and Data Technologies

2023 SEP 11 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Data detailed on information and data technologies have been presented. According to news reporting from Chicago, Illinois, by NewsRx journalists, research stated, “Regulatory and sociological resistance to new market-driven technologies, particularly to those that rely on collection and analysis of personal data, is prevalent even in cases where the technology creates large social value and saves lives.”

Our news correspondents obtained a quote from the research from University of Chicago: “This article is a case study of such tragic technology resistance, focusing on tracking devices in cars which allow auto insurers to monitor how policyholders drive and adjust the premiums accordingly. Growing empirical work reveals that such “usage-based insurance” induces safer driving, reducing fatal accidents by almost one third, and resulting in more affordable and fair premiums. Yet, California prohibits this technology and other states limit its effectiveness, largely in the interest of privacy protection.”

According to the news reporters, the research concluded: “The article evaluates the justifications fueling the restrictive regulation vis-a-vis the loss of lives resulting from this regulation. It concludes that the social benefits of the tracking technology dramatically outweigh the privacy and related costs.”

For more information on this research see: Privacy Protection, At What Cost? Exploring the Regulatory Resistance to Data Technology in Auto Insurance. Journal of Legal Analysis, 2023,15(1). (Journal of Legal Analysis - https://academic.oup.com/jla). The publisher for Journal of Legal Analysis is Oxford University Press (OUP).

A free version of this journal article is available at https://doi.org/10.1093/jla/laad008.

Our news editors report that more information may be obtained by contacting Omri Ben-Shahar, University of Chicago Law School, 1111 E. 60th St., Chicago, IL 60637, United States.

(Our reports deliver fact-based news of research and discoveries from around the world.)