decentralized insurance could have a huge market after stories of denial of coverage, centralized mismanagement

- users pool funds for insurance payouts
- algorithmically adjusted year over year
- percentage of payments refunded for customer loyalty
- users vote on policies
- no centralized actor to deny coverage

onchain app dev, builder, and regen. I help my clients build, launch, and improve web3 products

Denying coverage is how insurance makes money tho

Gamer, educator, dev translator | building tabletop.xyz | Writings, memes, thoughts, and mints in /nerdery | lead /tabletop /gaming /sobriety

fair enough, I’m just saying there’s gotta be a way to develop a better value prop than some WW2 era business models that clearly aren’t working for the people they claim to serve

yea man I mean idk what the answer is I do feel there’s ways to potentially structure things where ins companies can still be profitable with a new business model, I’m convinced crypto could at least be an attempt to innovate an area that’s been stagnant (at least from my perspective) for 80+ years

Capitalist goal is to make money, not protect people. So require ins to not be for-profit companies. 

Imagine the startup capital costs are insane for ins co.s bc you're basically betting on human lives, like what's the vig on you not needing cancer treatment for the next year?