Admiral Insurance to use algorithms to set insurance prices based on customers' Facebook posts

Facebook, it is said -- much like Big Brother -- is watching you. Privacy groups have long warned about the potential for information shared on the social network to be misused, and now an insurance company is planning to make use of the status updates customers post to determine the type of drivers they are. The controversial move finds Admiral Insurance using an algorithm to analyze the posts of new drivers in a bid to determine the type of people they are. By linking 'likes', writing style and other factors, Admiral believes the system -- called firstcarquote -- can be… [Continue Reading]