"Efficiently priced insurance": do you mean so the insurance company can set your premiums based on a more-accurate estimate of your risks?

The whole point of insurance is (or was) pooled risk. The more the insurance company knows about my risk (even risks I don't know about), the less point there is in me buying insurance; I may as well just put my premiums into a private sinking fund.

Exactly. If an insurance company has perfect knowledge of each individual's risk and charges accordingly, it ceases to be insurance.

So even if your insurance worked out cheaper you would now see it as not worth buying because it’s too accurately priced? Literally what are any of you talking about, this is crazy talk. You buy insurance to hedge against risk, that’s it, if the cost accurately represents the risk then that’s a good thing. If you have unlimited money then it’s always financially better to not buy insurance, that’s correct right now… People don’t have unlimited money to spend on massive, unexpected acute financial obligations, that’s why people buy insurance… ITT: people not even understanding why they’re spending money on insurance every month, this is mind blowing to me.