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« on: March 05, 2014, 04:25:34 pm »
Not sure if this is possible, but could the role of Adjustor be decentralized in some way too? Instead of a single person in the role of adjustor, could the approval of claims and the determination of the payout amount be crowd sourced?
For example, could multiple people purchase something like "Adjustor Shares" in an insurance DAC, which would grant them voting rights towards how each claim is handled? They could vote on things such as whether a claim is fraudulent, whether or not a claim should be approved, the amount of the award to be paid out, etc. Final payout amounts could be determined by averaging the amounts recommended by all adjustors, or something similar.
Participation could be encouraged by splitting fees only amongst the shareholders that actively voted on each claim. People that held "Adjustor Shares" but do not actively participate in voting over a length of time, could be "fined" a portion of their shares which could be awarded to the people that DO participate.
Fairness could also be encouraged by awarding Adjustors a percentage of the fees for each claim, based on how closely their votes were to the final average. People that cast far outlying votes (like voting for $0 payout on every claim) could also be "fined" a portion of their shares, which could be awarded to the "good" adjustors. Those fines should eventually weed out bad actors.
Could something like that work for an insurance-type DAC?