Megaphone
More often than not you simply MUST buy an insurance policy. If
you want to drive a car you MUST be insured. If you have a mort-
gage on your house you MUST have an insurance policy to protect
a bank whose money you borrowed to buy yourself a home in the
first place.
The stark contrast between 99% of all industries, on the one hand,
and the insurance industry, on the other hand, can be succinctly
described as the difference between consensual sex and consensual
rape.
A
s recently as ten or twenty years ago there
was a number of relatively legitimate reasons why
this “consensual rape” concept seemed to have no
viable alternative. Only ten years ago the most ubi-
quitous words of today such as “sharing economy”,
“peer to peer”, “cloud storage” and “decentralised
databases” were just funny buzzwords echoing from
the tech community but with no immediate major
impact on any major industry.
Fast forward to today and all these buzzwords are
no longer buzzwords but the mainstays of the world
we live in:
We use Uber, keep our videos in a cloud and some
of us are even so foolish, or so smart (depending on
your appetite for risk and tech savviness) to play
with crypto currencies which at the moment hap-
pen to be the most hyped embodiment of blockcha-
in technology.