There is an ongoing debate about the legal admissibility of new insurance products based on individual data analytics - such as telematics insurance or Generali's Vitality programme - in the German market (and similar in other jurisdictions). Especially, individualised tariffs based on insureds' individual data are often criticised in terms of data protection and regulatory requirements.
Much of that criticism seems exaggerated and fuelled by a general scepticism of (admissible) use of personal data. Certainly, I agree that innovation needs to abide by the applicable regulation, including in the field of data protection such as the new GDPR, but I don't think this creates general obstacles and find it difficult to follow arguments that such new products are not insurance as the nature of the risk transfer is not changed. Rather, I believe that the success of such products depends most on transparent products and wordings – and especially of building and protecting the necessary relationship of trust with customers.
Datenbasierte Tarife im Angebot deutscher Versicherer werfen rechtliche Fragen auf, warnte der Jurist Christoph Brömmelmeyer auf der Wissenschaftstagung des Bundes der Versicherten. Seiner Ansicht nach ist es möglich, dass das Vitality-Programm der Generali mit dem Verbot versicherungsfremder Geschäfte kollidiert. Bei Telematik-Tarifen stelle sich die Frage, ob die gesammelten Informationen als personenbezogene Daten im Sinne der Datenschutzgrundverordnung einzustufen sind.
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