Auto Insurance: a GBA+-specific example

1 - Introduction

The GBA+-specific option focuses on either women or men, or a particular group among the diversity of women or men.

Measures are taken to meet the needs of a group with a particular disadvantage, including a historical disadvantage. Measures are also taken to prevent a group from being negatively impacted.

In this example you will see that insurance companies use the GBA+-specific approach to target those drivers who are at highest risk of accident or injury with higher insurance premiums. If they did not take this approach, and all drivers paid equal premiums, safe drivers with a lower risk of accident or injury would in effect be subsidizing the insurance premiums of the higher-risk drivers.

Insurance premiums are based on an individual's particular combination of sex, gender, age, marital status, geographic location, driving record and the kind of car being insured.

Take a look at how Chantal’s and Shankar’s auto insurance rates will change depending on the depth of the GBA+.

Visit the profiles tab to learn about Chantal and Shankar.