This is privacy advocates' worst nightmare. Okay, nazi-style mass murder of people with certain thoughts and opinions enabled by the scarlet letter that is all the data Google keeps on all of us is privacy advocates' worst nightmare. But this is how it starts.
When Google eliminates the middle men, do you think prices go down? Only for some, and then only for a very short while until the competition is out of business. And this process is accelerated by high rates for high risk individuals. High risk for payouts that is, which is not always the same as high risk for society. For example:
* Visit a lawyer's website recently. You're more likely to sue when we underpay your claim. Let the competition have you.
* Liked something by Ron Paul on Google+? Some Google analyst thinks he found a correlation between that and higher claims. Your rates go up.
Big Data makes insurance rates in the best case arbitrary (when they misidentify factors that supposedly relate to insurance risk) and in the worst case discriminatory and a method for punishing people financially for behavior we all supposed was constitutionally protected (when they accurately identify behavior, like advocating for tax reform that actually benefits the middle-class, that those who control the few big companies with the big data don't like). Hopefully the ACA will prevent this in the health insurance market by mandating a rate based only on geography, age and smoker status. But I'm sure they can easily marginalize people who oppose their ideas using just auto, homeowners and liability insurance.
They say we should vote with our dollars. But we're obviously far outnumbered in such a battle. And the very wealthy don't so much vote with their dollars as they wage outright war with them. Imagine your homeowners and auto insurance rates quadrupling because of the places you go, websites you visit and company you keep (online and otherwise). While less explicit, the end result isn't much different than the Nazi's Nuremberg Laws or or laws limiting property ownership to white males with family histories.
Thanks for nothing, first amendment. Soon we'll have to exercise #2 instead.