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  #1  
Old 12-09-2015, 02:30 PM
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Default Why will this fail?

http://techcrunch.com/2015/12/08/seq...orm-insurance/
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  #2  
Old 12-09-2015, 02:48 PM
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They were introduced by a mutual friend.
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  #3  
Old 12-09-2015, 02:52 PM
gooseygrand gooseygrand is offline
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Not that it will fail, but you need to charge others more if you're going to pay out claimless pools. Unless they have a target market that they can soak or a way to really trim down expenses, I don't get it.
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  #4  
Old 12-09-2015, 04:23 PM
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Vorian Atreides Vorian Atreides is offline
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An interesting assumption that's posited as a "fact":

Quote:
Since insurers use non-payment of claims as a profit center, the scales are weighted for the insurers to screw their customers out of contracts from the beginning. It’s this issue that Lemonade and its European counterparts are aiming to change.
So . . . claims that are not "covered" and subsequently denied translates into "profit"?



Also, another claim that's not substantiated:

Quote:
The company cites estimates that the property and casualty insurance industry generates $1 trillion of gross margins annually, and those numbers are hard for investors to ignore.
Apparently, they're not prepared to cover the costs of a Katrina or Sandy type events . . . Or a Joplin, MO . . .
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  #5  
Old 12-09-2015, 04:41 PM
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Sounds like they've been talking with Robert Hunter
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  #6  
Old 12-09-2015, 04:41 PM
tommie frazier tommie frazier is offline
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will they be authorized to write business in enough states? how will the ultimate insurer (standing behind the groups of friends) be capitalized? are the friends required to be in same state (increasing concetration risk for property)?
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  #7  
Old 12-09-2015, 04:52 PM
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It's all good until Dave has 5 claims in one period and burns through all the pooled money. **** Dave. Now you have n-1 friends.
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You should learn to communicate in a serious manner before you expect a serious answer.
Spoiler:
Quote:
Originally Posted by Kangaz wit Attitude View Post
Force of habit, 2pac's been typing "88" a LOT since Trump got elected.
Quote:
Originally Posted by JMO View Post
You ought to see the bush. It's impressive.
Quote:
Originally Posted by Pikachu
10:53 pm: some ppl dont take advices well
Quote:
Originally Posted by mayo fan
9:45 pm: ao fan would be hot covered in mayo!
Quote:
Originally Posted by Snikelfritz
if you'd like I can come visit and dress up like a girl and get in some fights
Quote:
Originally Posted by Kaner3339 View Post
i think everyone needs to do this type of thing to get a dose of reality and straighten people up. it's kinda like going to the mountains and becoming a monk except it's with hundreds of potatoes and a lot of stoners with tattoos in a kitchen
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  #8  
Old 12-09-2015, 05:18 PM
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Sounds nice but there are obvious solvency issues within the pools. And if the p2p company is going to pay the excess how is this different than regular insurance?
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  #9  
Old 12-09-2015, 05:36 PM
jas66Kent jas66Kent is offline
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That article is hilarious.
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  #10  
Old 12-09-2015, 06:13 PM
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Quote:
We are building an insurance company fully vertically integrated from the ground up to rethink some of the building blocks of the industry
I've been in corporate america for a few years now, but it still makes me do a double take when people talk like this outside of a Dilbert cartoon.
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