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Is there anyone building a Life Insurance company in the DeFi space?
My curiosity as a thread
My curiosity as a thread
2/ My first job after college was selling life insurance for Northwestern Mutual.
I was the number one salesman amongst my peers my first year out of school. I talked to people about their death a lot.
"If you can sell life insurance, you can sell anything." - Zig Ziglar
I was the number one salesman amongst my peers my first year out of school. I talked to people about their death a lot.
"If you can sell life insurance, you can sell anything." - Zig Ziglar
3/ Selling for a Mutual Company gave me an advantage, I could offer policyholders the ability to participate in the dividends that our company distributed every year, unlike publicly-traded insurance companies.
They could take it as cash or reduce their premiums.
They could take it as cash or reduce their premiums.
4/ The more I've dug into DeFi, the promised of token-holders owning and participating in the upside of the rebuilding of the financial market place, the more I saw the Mutual model being the CeFi version of participation.
But in a very limited way compared to what Defi offers
But in a very limited way compared to what Defi offers
5/ The best Mutual Companies share a 5-8% dividend each year with policy-holders.
While consistent, it is also far less than what it could be if the efficiencies and transparency of being on-chain were brought to the entire insurance process from application to claims.
While consistent, it is also far less than what it could be if the efficiencies and transparency of being on-chain were brought to the entire insurance process from application to claims.
6/ The idea of bringing those efficiencies and that participation to a native DeFi Life Insurance company strikes me as a really interesting opportunity.
Do you know anyone who is working on that?
Do you know anyone who is working on that?
