Quote from: jlp on October 19, 2017, 12:13:27 PM

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?

It is not a problem. It is just old fashioned way of financial industry to work. New technologies bring new capabilities and efficiencies.

REGA users will pool risk premiums together and decide on payments if smth happens to community members.

I wouldn't call Bitcoin movement as a bubble, rather corrections. Nothing will happen to risk pools as the risk is distributed, all risks shouldn't realise at once. The volatility with currency happens all the time, for example some foreign currencies depreciated twice in some countries. We expect crypto volatility will decrease with time.

Mutual insurance companies lack technological efficiencies as insurtech solutions have.

Claim adjustment in crowdsurance is done by expert voting on the platform, they vote with their tokens. Tokens will be traded on the exchanges, anyone can become an expert and recieve incentive from part of premiums they process. Sorry you missed that point, cause didn't care to go deeper inside the concept.