Other Info:
- Discord Link: https://discord.gg/V2jV8uJ
- Website: https://jettinsurance.wordpress.com/
- Get a free quote: https://jettinsurance.wordpress.com/quote/
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No ingame entities or mechanics to enforce this. The only way this would scream “not a scam” is if it was being ran by a trusted 3rd party. You’re a random nosepicker off the eve forums trying to offer “insurance” of things in the game. So…yea, scam.
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White Frog Insurance covers hull and collateral for Red Frog pilots as long as they are flying within guidelines. It is mandatory - common risk pool - and they have the actuarial data to do it properly.
With opt-in insurance, there will be a selection bias - you’ll get the high risk pilots. Hard way to make money!
I’m not sure you thought this all the way through… Insurance irl is based on thousands, if not millions of small premium payments. What are your premium rates and for what hull sizes? How do you tie in collateral?
If you were charging say, 5 Million ISK for every 100 Mill covered you would need at minimum 20 pilots to cover that first 100 Mill of that first single pilot. To cover 1 Billion ISK you’d need 200 pilots to cover that 1 single pilot…
So again… are you sure you thought this through?
Let the man do his thing, EVE is meant for all possibilities whether it is legit or not but should be able to do so without harassment and criticism.
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@Otto3d None of the above are harassment or criticism, All the questions above are valid if you are thinking about using his service. Seeing as how @Rocket_Hellfire posed a valid question 30D ago but there has been no reply to address the simple math he presented, pilots can now draw better assumptions on the service that @Jeff_the_Barber is offering.
@Otto3d thank you for your support, but don’t worry about the negativity. From day 1 of this idea I knew without a doubt that it would be an uphill battle against public opinion, and I’m not bothered by it.
@Adrian_Motsu You’re right, aside from the first comment, the rest aren’t really an issue in terms of harassment, and the criticism is well received. I actually responded to both the second and third comments, but later removed my responses. I’d rather this not be an argument thread, but I guess we’re a little past that. I’ll reproduce what I remember from my responses here…
@Do_Little I am actually interested to see how these numbers play out. I have considered and been warned many times that my business plan has inherent selection bias towards those more inclined to take risk. We’ll see what happens!
@Rocket_Hellfire There are now price estimates posted here . I don’t know what you mean by collateral. There is no collateral required from insured pilots. Only the agreed-upon monthly payment. 5 million isk for 100 million covered is a 5% base rate. My base rate before premium/discount calculation is actually 2%, so far below your estimate.
As for your math question, you said it yourself, insurance IRL is based on a lot of payments. EVE insurance, for the purposes of this business plan, is based on far fewer than thousands and thousands of small premium payments. TLDR: yes I have thought this through. Thank you for your concern.
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Interesting. A few questions if I may.
Is this only for high sec/low sec?
Do you have any current clients reviews? Any current clients someone could reach for a referral?
Great questions, and thank you for asking.
Insurance is only offered in high security space, where a suicide gank is required to kill someone illegally. I have pipe-dreams about expanding services in all kinds of ways, but there are financial and technical reasons not to cover wars, suspect/criminal flags, and low/null sec at the moment.
I do have current clients, but none that have filed claims yet. It may seem counter-intuitive, but for the startup, I want to have to pay out some losses so that I can direct those pilots to come here (with alts, to avoid having their mains targeted, this is EVE after all) and post reviews. This is a volume problem at the moment. That said, I have expanded business to mining barges and exhumers. Seeing as the barges cost less than 1m/month to insure, I am hoping to get a good flow of business going on that end, and hopefully see some claims, and subsequent reviews to further the snowball.
Thank you very much for asking, and I hope that was mildly coherent.
1,333,620,000.00 isk worth of assets currently insured.
We can’t protect you from deciding to go through Uedama, but we can make it hurt a little less when you do
Burn Jita 2019 has passed, and the financial reports for February are out!
Exciting News!
Still open and available.
We can’t protect you from deciding to go through Uedama, but we can make it hurt a little less when you do
That’s because white frog has been around for years.
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