Hello Leo Mor,
Are you saying that one of the problems of Mutual insurance is that the investments assets that can chosen by a few people to invest into? Why is that a problem? What are you proposing? Are you proposing that all REGA users invest the premium pool?
Are you saying that REGA will invest its premium pool into Bitcoin and Ethers? Bitcoin has had 4 bubbles. Nobody knows if this if the 5th bubble. It went down for 2 years in 2014 and 2015. What if that happens again? How will REGA pay its claims if it loses 40-50% of its premium pool?
You wrote: The excessive funds are returned back to the community by paying premiums back. Mutual insurance companies do this already. Even then, rarely are they or other insurance companies able to pay premiums back. Thats why mutual insurance companies are small in numbers.
When an insured makes a claim, an adjuster physically visits the insured, inspects the damage and tries to prevent insurance fraud by customers. Are you going to have a fleet of adjusters? How will you build this staff and manage them? How will they be paid?