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Hexxx
Minmatar
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Posted - 2011.06.06 22:09:00 -
[121]
Originally by: Rhivre To Whom it may concern!
It has come to my attention via national newspapers that your fine insurance company has recently reduced its premiums.
As a long-standing valued customer, I demand that I be given the new rates, or an additional discount on my next premium!
Yours faithfully,
Disgruntled of Jita!
You're actually getting a rebate of approximately 11 million ISK.
I was talking to Sencnes about it earlier when we were discussing adjusting the ratio to be a bit more aggressive on pricing and we figured that since this is a beta, and we do love the people who are taking a chance on a beta, that we should "adjust" the pricing retroactively for early adopters like yourself.
So, later tonight I'm going to manually update our ledgers and credit your account with 11 million ISK. If you could, make sure you withdraw that money once it's credited to your cash account. We haven't had anyone do a withdraw yet since we launched beta and I'd love to have it put through the paces.
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Brock Nelson
Caldari T2 Technologies Unlimited SRS.
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Posted - 2011.06.06 22:20:00 -
[122]
Why be more aggressive with pricing if you're the only one in this market?
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SencneS
Rebellion Against Big Irreversible Dinks
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Posted - 2011.06.06 22:51:00 -
[123]
Originally by: Brock Nelson Why be more aggressive with pricing if you're the only one in this market?
We're not the only insurance company, and the other guy has an unlimited supply of ISK, does their transactions INSTANTLY on ship destruction, and has been a part of EVE since before it was available to the public.
On a more serious note, over the weekend I did do some in-game talking with Mining corps etc. It appeared while they thought it was a great idea and liked the fact if they lost their ship they'd get most of it back. They did feel it was a little steep, so Hexxx and I talked today about it and I ran some numbers. We both feel this might be best served to make the price a little better if anything just to get some more customers. While this Beta project doesn't have a defined end-date having it run on forever due to lack of customers/data wouldn't exactly be wise either.
That said, depending on the results the policy rate might return to it's original ratios, it might even get better. We're more then willing to sweeten the pot a little to get some data to help us determine things like Ratios etc.
Amarr for Life |
Hexxx
Minmatar
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Posted - 2011.06.06 23:30:00 -
[124]
Edited by: Hexxx on 06/06/2011 23:30:24
Originally by: SencneS
Originally by: Brock Nelson Why be more aggressive with pricing if you're the only one in this market?
We're not the only insurance company, and the other guy has an unlimited supply of ISK, does their transactions INSTANTLY on ship destruction, and has been a part of EVE since before it was available to the public.
On a more serious note, over the weekend I did do some in-game talking with Mining corps etc. It appeared while they thought it was a great idea and liked the fact if they lost their ship they'd get most of it back. They did feel it was a little steep, so Hexxx and I talked today about it and I ran some numbers. We both feel this might be best served to make the price a little better if anything just to get some more customers. While this Beta project doesn't have a defined end-date having it run on forever due to lack of customers/data wouldn't exactly be wise either.
That said, depending on the results the policy rate might return to it's original ratios, it might even get better. We're more then willing to sweeten the pot a little to get some data to help us determine things like Ratios etc.
Just thought I'd add a bit to this...I'm buying some GTCs to supplement our reserve fund so that we can 100% cover all insurance policies, even if every single person gets blown up and files a claim.
The beta is a period of time where we want to collect data...and we are absolutely prepared to pay for that data.
edit: if the community would like to pick an external auditor to validate anything we say, i'm still happy to accommodate that
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EFSI SencneS
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Posted - 2011.06.07 18:25:00 -
[125]
Rhivre was the first person to request a withdrawal and have it processed. So congratulations to Rhivre for being the first bona fide customer :)
This withdrawal required a small mechanical change to process Rhivre's request, which prompted Hexxx and I to reevaluate how we look at withdrawals. As a result of that change, the withdrawal system which was attached to the (for lack of a better term) "banking" module, will be separated and given it's own module.
This change will allow additional "divisions", which may fire up later, to handle withdrawal requests, and possibly 3rd party withdrawal processing and management for non-Solar related projects. So if you ran a business which took on deposits and processed withdrawals such as an Exchange or 3rd party website for gambling or an IPO which took on deposits and allowed withdrawals etc. Solar could handle not only your Ledgers with FIFO Standard accounting practices, but manage withdrawal requests. This is not so much an EVE Insurance update but an update to the software which manages EVE Insurance's financial reporting and payment system.
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Xeoniya
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Posted - 2011.06.08 01:42:00 -
[126]
Just a thought but mineral trading (down the road as you mentioned on one of the earlier pages) might eventually make a very convenient hedge against price rises. Granted mineral costs are only a portion of t2 prices but if we get another destroy it and collect fade - mineral prices should go up and partially cover the payouts. Additionally mineral trading would help to soften the price fluctuations. Or you could help out the mineral fund and buy there instead of holding actual minerals.
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Shawnclay
Gallente Center for Advanced Studies
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Posted - 2011.06.09 18:46:00 -
[127]
How is this venture being funded and when do you plan to launch?
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Magnu Stormhawk
Stormhawk Enterprises
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Posted - 2011.06.10 09:10:00 -
[128]
Originally by: Shawnclay How is this venture being funded and when do you plan to launch?
Beta stage is in progress and it is being funded/underwritten by SencneS. No date is set for full launch.
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Utemetsu
Caldari
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Posted - 2011.06.10 22:33:00 -
[129]
Commercial is online.
http://youtu.be/zv_daT3tCKk Please re-size your signature to the maximum allowed of 400 x 120 pixels with a maximum file size of 24000 bytes. Zymurgist |
Billyboy Joe
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Posted - 2011.06.11 04:03:00 -
[130]
I remembered this years ago. Too lazy to actually do anything about it, like i am with everything arround my life really.
Really nice idea though, i'm sure it'll work.
Good luck!
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Roguehalo
Caldari Roguehalo Ship Brokers
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Posted - 2011.07.08 17:48:00 -
[131]
Edited by: Roguehalo on 08/07/2011 17:49:40
Do you think it's wise to advertise that you 'only' have 2b capital for the beta test.
Las Vegas casinos operate on the basis that their pockets are deeper than their customers are.
Shouldn't you be doing the same?
I think this will stand or fall on the basis of how stringent your anti fraud measures are. I'm not sure that 2b(approx 300 policies) is enough to allow you any workable anti fraud policy |
EFSI SencneS
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Posted - 2011.07.08 19:33:00 -
[132]
Originally by: Roguehalo Do you think it's wise to advertise that you 'only' have 2b capital for the beta test. Las Vegas casinos operate on the basis that their pockets are deeper than their customers are. Shouldn't you be doing the same? I think this will stand or fall on the basis of how stringent your anti fraud measures are. I'm not sure that 2b(approx 300 policies) is enough to allow you any workable anti fraud policy
If the goal of the beta test was to generate profit and run indefinably than I would have to agree with you. Going in with the idea that every ISK of that 2B ISK will be lost but the data we'll have gathered, and actually testing of the system in a controlled production type environment is worth more to us than 2B ISK.
The beta test was initiated for the purpose of testing software, reports, making sure checks and balances are in place, determining demand of the service, initial data collection on claim rates etc. as well as a myriad of other things. It's actually been very helpful in the detection of usage bugs and possible scenarios in which can come up outside of EVE. Such as policy price adjustment refunds for active policy holders etc.
EBANK started without any real public testing and usage, and part of it's failure is recognized as the inability to perform good audits and reports. While EVE Insurance is not a bank that same mistake is not going to happen again. Opening up with a very small limited running capacity, and setting a pre-defined shutdown scenario of total loss of capital is more wise then dumping 100B into it running it in a state in which bugs in the system are still be found and fixed.
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