> What if your car insurance was more expensive because your last name was associated with an ethnicity that happens to have more car accidents than others?
But why is it fair to charge men more than women? AFAIK car insurance is more expensive for men
Back to the point of regulation, the fact that we're able to have a conversation about the factors that are/aren't allowed to be taken into account relies on the pricing model being relatively transparent about its inputs. Unrestricted machine learning leads to better predictions but often at the expense of transparency about what exactly is going on. If you feed first and last names into a model for example, it might learn things that correlate very closely with ethnicity
But why is it fair to charge men more than women? AFAIK car insurance is more expensive for men