ICO REGA Risk Sharing

Our crowdsurance platform should play significant role in unlocking the blockchain technology potential for insurance industry. It will allow people cover and manage the variety of risks without excessive and inefficient chain of intermediaries.

Peers may finally get the opportunity to manage their own risks at their own price without intermediary risk carriers receiving all upside of risk premiums. The platform just takes a flat fee for providing the technological solution to the market, peers receive all the benefits and prolonged risk coverage.

Through our platform more cost-efficient and risk-manageable distributed financial products will be created. We started from delivering our own risk-sharing products to the market, creating value through filling the existing gaps in microinsurance sector, where the competition among traditional insurance companies is low. Our current solution for pet owners (Lexi Club) helps them to save on vet services and pay only 20% on bills. Next step, we will use our expertise and disruptive technology to deliver mass market crowdsurance products to the market. Finally, we will create user-friendly interface for community members to develop and manage their own peer-to-peer risk-sharing products, solving common chicken or the egg problem. Our platform is open-source software elaborated on Ethereum blockchain, that makes product design process and financial transactions traceable and transparent.

This new approach will finally lead to social role of insurance and provide solution for old conflict of interest between insurance profit gains and claims adjustments. Crowdsurance will finally become the community development driver rather than the source of profit from unrealized risk for insurance companies. Getting rid of intermediaries will make insurance more cheap and affordable. Insured person will become part of the community, which should play significant role in his life and expose moral hazard phenomena to reduce risk on the platform. Peers get additional benefits by sharing risk coverage with those who cannot afford to get insurance products creating reputation based social networks.