So would you say insurance companies are here to stay? They kind of just leech off everyone's hard work and try to avoid paying out as much as possible.
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So would you say insurance companies are here to stay? They kind of just leech off everyone's hard work and try to avoid paying out as much as possible.
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It will be revamped completely. Tesla looking at bringing their own insurance out is the first leak in the system.
With the advancement of data, it is hard to envision the present system remaining in place. We can establish one with data and algorithms that operate much better.
Also, imagine the changes that will be taking place in the automotive (self driving) and healthcare (personal monitoring) industries.
These are two big areas for insurance.
And who knows, we might see decentralized models be constructed.
Why couldnt we establish and insurance pool on DeFi that pertains to certain assets that we are protecting.
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Seems complicated. I think I need to see some actual details before I believe it. Honestly I think lower costs are better but if accidents start piling up then costs need to stabilize somewhere.
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DeFi can definitely work in that field too I guess . Don't you think ?
Also I hate insure companies to the core lol.
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I am not so sure. I think the idea of the pool's value dropping every time an accident occurs doesn't seem appealing to me.
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