In these plans people would save money without being taxed on the earnings

These are just acouple of ideas on howto make insurance consumer friendly. As people feel more secure and can save more, their property will go up in value increasing not only pride of ownership but also increasing the tax base of their community We give big business tax breaks; let's give some incentive to the low income people. I would even recommend matching contributions from the government for low income families to help them establish these accounts. As an incentive to low income families, they could use some of the funds to do regularly required upkeep of their homes (new roof, new siding, upgrade electrical wiring are a few examples). How far is it driven? Is it driven to work every day or used in employment?

It would be like the HSA rules for health insurance, but applied to all types of individual insurance. How is the vehicle used? Do they have any young drivers? As your savings account grows, you could increase your deductible which would lower your premium and give you additional savings.

The money could be taken out to cover deductibles for covered losses. Next, allow people to have tax deductible Insurance Savings Accounts (ISA). How many other people in the household will be using the car? Accidents? Do they have any speeding tickets?

You might look at their driving record. Do they drive their car to work every day? Then you have to evaluate the individual customer to determine the probability of that customer. Rates are usually determined by trying to do two things: first, evaluate the risk, and second, anticipate what the ultimate claims might be, so you'll know what the losses may be. That is one of the ways companies can differentiate themselves. Every company takes its own strategic approach as to how it is going to set rates. Would you agree that saving money and better understanding will lead to better value? If these ideas are implemented, twenty years from now people will be saving more and they will better understand what their insurance does for them. In the big picture, they both make a ton of sense because they are good for the customer and promote competition. We would need some form of national standards or rules over insurance and financial services for them to be implemented.