insurance companies using price optimization for the first time. This is when an insurance company strategically raises prices on only some of its existing customers, hoping that the price hike is not so large that the consumer picks up and leaves. The rub is that the price increase in, say, auto coverage, is not actually based on how risky that particular driver is. The higher price is based on the kind of consumer the company thinks he is: whether he's likely to shop coverage and switch if hit with an increase.
Monday, June 22, 2015
Monday, June 8, 2015
Recently, he lost his job. In a climate of shrinking education budgets, this sort of thing can happen regardless of how good of a teacher you are. Even though we graduated over a decade ago, we still talk regularly. And these days we chat about the different directions his career might go in, now that he has this transition moment.
Being self-centered, the next thought I had was about how this sort of thing might affect me.