Does this company have a track record? What assurance is there to an investor this startup will actually pay out? Also, I'm rather curious about the math behin

Does this company have a track record? What assurance is there to an investor this startup will actually pay out? Also, I'm rather curious about the math behind the business. (Note: I am a programmer. I could best be described as having a low and/or dangerous level of knowledge about investing). If assure.li has 7 customers buy insurance for their $100k investment at 15% (so +$15k insurance premium), they are making $105k. If one of those companies "fails", assure.li now pays out $100k and now are left with $5k. If two customers fail, assure.li is now down $95k. It's pretty widely cited that nine out of ten startups fail. assure.li seems to be betting that 90% succeed: even splitting the difference and saying 50% succeed, it seems to me this company will run out of money very quickly. An insurance company with no ability to pay claims is not a very useful insurance company. Or am I completely missing something here?