Here is some food for thought for the ones who don't believe in the business model:
I think that the most valuable part of this project is not the initial insurance product we promise to provide, but the working model of fully distributed on-blockchain insurance company. After we have proof of concept we can apply it to multiple markets, like catastrophe bonds, flight, medical and other stuff. We have picked crypto exchanges as the first target just because this is a major problem for the most of the investors in the first round.
I think the platform for creating the fully distributed on-blockchain insurance company exists already. As I wrote before, it's name is Augur. It has not been launched yet but it is in beta testing stage now. Augur + Voting Sytem + insurance fund = your business model. Not absolutely the same but very close. Any insurance company can try their strategies and run their business using the above approach. The so-called DAO is not necessary for the insurance companies to run their businesses. I don't think many of them will need it. To summarize, Augur + Money + Math model = insurance business on blockchain. Fully decentralized, transparent and trustless. Payments will be guaranteed to the clients by the smart contracts, insurance company won't be able to decline the payment for any reason.
The event resolution time can be as low as 3 days, not months.
Your platform will be different of course and will have its own advantages and disadvantages.
But I bet if we develop the prototype we'll have a queue of insurance companies lined up with offers to acquire all the intellectual property. And all investors will get pretty quick reward in case of acquisition.
You are talking about the absolutely different business model. You mean you create the platform and sell it. There was no a single word about such an approach in your presentations. It's not what ICO investors expect I suppose. Real investors wait to receive the stable yearly profits from a working business and take decisions concerning the business management. They don't need one-time reward.
Actually, the DAO should take the decisions on acquisition or similar matters. I don't understand why you need the DAO if you are going to sell the company. At the same time I don't understand why people would like to participate in the DAO if it will be sold at the end. In general, I hardly imagine what acquisition may look like in the case of the DAO controlled structure. What if some DAO member won't wish to sell their shares (tokens)? What is some of them won't wish to loose control on the key management decisions?
The business model that can be built based on your offer is good and much better than the one described in your whitepaper. I didn't perform any calculations and can't say anything about the numbers. But developing the insurance platform, selling and supporting it may be a good business I suppose. In terms of the whole idea only, numbers should be considered too. Another advantage is that you won't need to develop the DAO part of the platform. Insurance companies can run their businesses without the DAO part I think.
Just develop the platform, sell it and support it. Unfortunately, your initial business model is absolutely different and includes running your own insurance business.
There's one more interesting point here. You are mentioning the intellectual property. AFAIK the smart contracts in Ethereum are visible to everybody and can be used by anyone. The core of your platform are smart contracts. How are you going to protect them from copying?
