Depends what kind of company you’re talking about. I can tell you from first hand experience that insurance companies are extremely slow in adopting new technology. Advertising companies, tech companies? Yes, processing data will be very cheap for them. Insurance companies and similar companies (think large financial/investment institutions) will be a while before they adopt that technology.
I'd turn all of these options off AND disconnect the modem. Why would they even list insurance-related data as an option? Our freedom is being taken from us, folks, a little at a time, baited by lies about useful benefits by opting in. Mark my words, the end game is non-ownership; rather subscriptions/ leases for everything. What is the single most important difference between the two major global ideologies? Frogs in a cooking pot.......I wanted to point this out just as an FYI for the current moment, I recently got a new APIM on my Shelby, and had to set things up again, so I went looking at the ford pass under settings and under connectivity setting this is what I saw, This is either disabled or off, either way I didn't touch it nor had any itching interest, but it is off/disabled by default, so be aware.
Throw away your phone and computer that you’re typing on too then because it’s tracking way more of what you’re doing than your car is. And don’t ever use a credit card or debit card again either, because that data is also tracked. If you’re going to go down the rabbit hole, go all the way down.
I think we’ll have to agree to disagree. I left a large, public insurance company 18 months ago (was there for about 18 years) and they were incredibly slow to adopt any new or semi-new technology, including something as simple as Microsoft Office products. And the executives are fairly young as far as large, public financial institutions go (early/mid 50’s). Currently work for a large, multinational investment management company that operates in a similar fashion. They just move at a glacial pace and are often times afraid of their own shadow. I have friends at the large, money center banks. Same thing there. It’s like turning the Titanic, there are so many layers things have to go through. Think Ford v Ferrari and specifically the scenes where Shelby is sitting in Ford’s waiting room watching the firing papers change hands a million times and then in Ford’s office with the team of executives hanging around Mr. Ford and the way Leo Beebe inserts himself in between Ford and Shelby as head of operations for LeMans and the race team. That is exactly the way these large institutions function
If I ever become this paranoid, I'll make sure to wear that tinfoil hat and make my home 20ft deep under earth with 12 inch think metal walls, this way when I'm dead no one will ever know.
And this is part of the reason I believe the option is there, to do away with the dongle and tap directly into your car, Mine will ALWAYS be off, and the day it turns on without my permission is the day I will own Ford and Lexis Nexis along with Verisk.
Agreed, give me the option to turn it off and if I do choose to turn it off, it better not mysteriously turn itself back on. The day a manufacturer (or company) no longer gives me the option to turn something like that off is the day I no longer support that company with my dollars. I’m not a fan of big government but I’d be in favor of some kind of legislation that would never allow companies to take that choice away from us the consumer (maybe it already exists?).
Roger that, Mark. Learned that factoid a long time back. As Yogi used to say,
Odds are, that's true, Jaymar but I think the "when" is all about how much the data-hungry insurance companies are willing to pay the auto manufacturers. For sure they (the OEM's,) won't lose money and unless those fees continue to increase, your hypothesis may very well come true.
I think there may be a bubble as you suggest, FS, but like Mark said about insurance companies, Wall Street moves at a similar speed. Plus, those ADHD money crunchers are watching the markets around the clock and have no doubt already begun changing their software tools and investing in the stocks/funds that are at the leading edge of innovation, (read AI.) It's for that reason that I don't think FakeBook kind of instant fortunes will be a thing.
And that is THE question, Craig, which of course only has one answer, it's because the law says they have to inform you first, (and this is where the "sneaky" factor comes into play,) before they can start stealing your information. I see new, even sneakier tricks all the time, they are getting better at deception.
Very true, Mark but remember, none of the other data thieves one might run into on the Web (at least that I can think of,) have control of your auto insurance bill.
Yep, that's why I don't think there will be anything near the huge, short-term profits made during the first tech boom.
I agree except all old, stodgy people were once young and idealistic. When you're young you're poor so you want to stick it to the man and fight the institutions but eventually you start making some of that money and become the institution. Nothing will really change as yesterday's hippies become tomorrows yuppies.
Very true. Although sometimes the ramifications can be even higher (identity theft, of which I’ve had to fight twice now due to large corporate data breaches). That’s a little different than a company collecting data and selling it for advertising or what have you. But eventually it’s likely to end up in the wrong hands, as we’ve seen on numerous occasions now. The less these companies know about you, the better.
A BIG "AMEN" on that, Mark!
