Google Street View image predicts car accident risk
Google Street View image predicts car accident risk
Author(s): Kinga Kita-Wojciechowska, Łukasz KidzińskiSubject(s): Methodology and research technology, ICT Information and Communications Technologies, Transport / Logistics
Published by: Wydawnictwa Uniwersytetu Warszawskiego
Keywords: Generalized Linear Model; risk modelling; insurance pricing; satellite imagery; Google Street View;
Summary/Abstract: Road traffic injuries are a leading cause of death worldwide. Proper estimation of car accident risk is critical for the appropriate allocation of resources in healthcare, insurance, civil engineering and other industries. We show how images of houses are predictive of car accidents. We analyse 20,000 addresses of insurance company clients, collect a corresponding house image using Google Street View and annotate house features such as age, type and condition. We find that this information substantially improves car accident risk prediction compared to the state-of-the-art risk model of the insurance company and could be used for price discrimination. From this perspective, the public availability of house images raises legal and social concerns, as they can be a proxy of ethnicity, religion and other sensitive data.
Journal: Central European Economic Journal
- Issue Year: 6/2019
- Issue No: 53
- Page Range: 152-163
- Page Count: 12
- Language: English