[steepben]

According to page 128 of their S-1 filing [0], their claims bot "AI Jim" processes claims without human intervention in a third of cases, including automatically denying claims. So either the second tweet in the thread is a lie, or their S-1 filing is a lie. This was pointed out by Rachel Metz [1].

[0]: https://sec.report/Document/0001047469-20-003416/#cy40510_bu... [1]: https://twitter.com/rachelmetz/status/1397625251257753606?s=...

[perl4ever]

I think the real story will be that their nature is a financial engineering free lunch that is going to blow up spectacularly.

They say they are different because they reinsure most of their risk. So why doesn't everybody do this, print money and let someone else take the risk? Just skimming the S-1 makes me think of Greensill. It's some sort of arbitrage that makes it hard to put your finger on where the risk is.