The only way insurance becomes pointless is under absolute certainty of future events. If you merely have personalized calculated risk using all the information

The only way insurance becomes pointless is under absolute certainty of future events. If you merely have personalized calculated risk using all the information available, insurance still makes sense. For example, you have total information about yourself, and there's a minimum price you'd be willing to sell car insurance to a copy of yourself, and it makes sense for you to buy it, too.