Four mainstream Australian insurers say they avoid deliberately inflating premiums for customers predicted to be more likely to tolerate higher price renewals, contrasting with allegations levelled against major provider IAG.
But a couple of insurers, including major operator Suncorp, refuse to clarify whether they use such an algorithm in their premium setting.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au