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Insurance is naturally a ponzi scheme (which isn't a bad thing). You hope people pay you more in premiums than they claim. The hard part is getting the math rig
by t0 13y ago
Insurance is naturally a ponzi scheme (which isn't a bad thing). You hope people pay you more in premiums than they claim. The hard part is getting the math right. You want to be able to cover all claims AND offer the lowest premiums AND still profit.
- HorizonXP 13y agoWhile people generally look for the lowest insurance rates, do you think that the OP's idea may warrant charging a higher premium?
- kbelbina 13y agoI'd pay higher premiums if I knew I was going to get the least painful and most transparent experience when I actually USED the insurance. Knowing how much things will cost and why ahead of time would be fantastic, among other things.