After a fast reading of your WP, I think the theory behind the concept is interesting, but...
You talk a lot about servers and possible attacks against servers. So this idea of yours is more like a semi-centralized one, right? Its not fully decentralized P2P.
Correct, the technology behind the insurance is semi-centralized.
But the insurance it provides is fully P2P. One pays directly to their peers and gets paid the same way.
And no attack on the server can result in loss of users' funds.
And BTW, when dealing with Insurance you deal with high risks, how do you intend to face that risks using a volatile cryptocurrency like Bitcoin or any other altcoin?
One doesn't need to bind significant amount of funds to our system. In big teams it will be "pay as you go" amount of money.
Wouldn't be better using pegged altcoins like Nubits for a high risk experiment like that?
We do our testing in Bitcoin's testnet. So should our users that want to try out the system.