Are there platforms offering insurance for ICO investments? -searched but couldnt find one.
Is it possible to build a platform that will accept such insurance payments?
More detailed:
1)ICO investor spots a solid hyped project but as crypto is risky, she wants to protect her stake and drops some crypto into the insurance fund
2)the ICO project is succesful and issues tokens - the insurance fund gets to withhold the insurance premium and profits.
-or the ICO project busts, scams and runs away with the ££$$, then the insurance fund settles the payout to the crypto investor.
Would that work or is a terrible idea? just a thought..
By default, insurance companies don't cover high risk investment areas and ICOs at the moment are one. At the moment the idea is nice but its not practicable to a large extent because if a company would want to insure your investment in a particular project, then they would have a perfect understanding of what its about to the extent that they would recommend such investment in that case it could be interpreted to mean endorsing ICOs which can be exploited and the moment one burst, that would be the end of the insurance company.
If the insurance won't go for the above option of having to verify before having to cover for losses, they would then only be able to cover some portion in percentage of the amount invested and not total amount while the premium might be high and in this case would not be accepted to crypto enthusiasts but hopefully in the near future, this might take a new shape as I see as a new business area ready to be tapped.
