That seems like an insanely good opportunity for people with actual actuarial expertise to profit off any retail investors/gamblers in the market btw. That seems like a market that would professionalize extremely fast.
Nexus Mutual offers insurance against smart contract hacks, coin depegs, custodial provider withdrawal issues, etc, and they've been operating fine for several years. The one advantage I really appreciate is the transparency it enables over the decision making process.
There's no reason this couldn't be expanded for other use cases, including home, car, etc. It really isn't limited to just smart contract data as you suggested.
Don't you still need the claims adjudicator to assign a dollar value to the damage to your insured asset? It's not like a smart contract can figure out how much to reimburse you after your house gets flooded w/o input from a trusted, human authority. I'm not really sure what value the smart contract is adding here.
Well, it’s quite telling that the majority of big crypto hacks are uninsured. And they like to play tricks just like normal insurance companies (1). And the CEO got hacked like any random person would’ve (2).
>That seems like an insanely good opportunity for people with actual ~actuarial~ expertise to profit off any retail investors/gamblers in the market btw.
