You've missed the point of big data, Red. Insurance is a calculated risk (gamble, if you prefer). Your PERSONAL circumstances are irrelevant. Insurance, like bookies & the roulette wheel, is an over-round book. It doesn't matter that the bet is nonsensical, either way, on an individual basis. It matters that the bookie / casino / insurance company walks away with a profit.

You are one odd-shaped grain in a silo full of grains. To offer you x or y rate makes sound financial sense. They may win from you personally; they may lose from you personally. But in the long run, from everyone, the insurance companies win i.e. make a profit.