This is a nice idea, and maybe one day Insurance will be handled on the blockchain, but I don't think it's practical at the moment.
I'm not sure how far down the line they are with their offering/service, or which regions they serve, but [for example] in the UK you are required by law to take out an Insurance policy if you're driving on the road. And saying you have a blockchain policy would not cover you - so you'd be breaking the law.
Yes, in theory, you could insure you mobile phone on the blockchain, and may get your claim answered, and a payment if you need it, but I wonder how foolproof the voting system is.
Are users of the service/app going to spend their time reading through claims, and decide on who gets paid, and who doesn't? If so, what are they basing this decision on? Insurance fraud is huge "business" and that's why the Insurance companies employ claims handlers & investigators - it's not just your word goes!
This is a nice idea, and I really hope that one day this can become a reality, and disrupt the Insurance industry (which really, REALLY needs disrupting), but I don't think we're quite there yet. But, I really do hope to be proven wrong!
Nice hunting :)
Thanks a lot!