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Industry still a 'bastion of male dominance'

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Australian Broker | 22 Nov 2012, 06:00 AM Agree 0
The financial services industry is still disappointing its participants when it comes to active efforts at gender diversity, according to a new survey
  • Carlos | 12 Jan 2013, 06:39 PM Agree 0
    There are two sides to this story. Charging people with low cridet higher rates enables companies to charge people with better cridet lower rates. Since there is a statistical relationship between poor cridet and accidents, it makes sense to charge more. There are companies that do not run cridet. You can ask when you get a quote. Those companies are a bad deal to people with good cridet, but a good deal to people with bad cridet (or any of the other factors). Actuaries, who figure out how to set up risk pools in insurance, have to strike a balance between polocies that enable companies to differentiate between different types of drivers and polocies that will drive to many people away. As a result, different companies set up different risk pools. This is why insurance rates differ so drastically from company to company. I once asked for several quotes and found out the my premium would be 400$ higher at some places. This is because of risk pooling.In the end, I like existing policy because it means that good deals are out there. Under a pure driving record system, insurance rates would be similiar accross the board. This would make it eaiser to shop for insurance, but harder to find good deals.
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