Yep, it would penalize those who have high risk markers but are nonetheless actually safer. Seems to be the same problem as charging more to an individual 16 year old who is actually a safe driver.
They charge the 16 year old more today. Better data collection would lower his rates.
They already do in the UK, lots of young drivers can only afford to drive if they have a "black box" fitted to their car by the insurer to track their driving behaviour.