I looked into this before. I just don't get it. There is definitely a trusted 3rd party in play which to me breaks the consensus model of having something decen

I looked into this before. I just don't get it. There is definitely a trusted 3rd party in play which to me breaks the consensus model of having something decentralised. Maybe you can have many trusted 3rd parties and they all agree I don't know. But then insurance is a lot trickier than just paying out automatically when your flight is delayed. How do you even know the person took the flight. Maybe that doesn't matter. But lots of other questions probably do e.g. If we have a major event which delays worldwide flights would that bankrupt the insurance scheme. What capital must the decentralised insurance hold to be liquid. Who can recapitalise it if there's a black swan event. I am not against these decentralised models I just know there are a multitude of very difficult questions which insurance companies have already answered. P2P, decentralised and smart contracts can't be the answer alone?