Sythe Insurance Service - Idea

.closed.

 

No support.

So many flaws, I can't list them all. One being, this could be setup between users so easily. I.E; User A pays the fee for protection, gets his friend to make a sythe account, sells him gold. User B (his friend), charges back. User A get's his payee protection money, and get's his paypal funds/RSGP returned as-well.

 

This will never happen BUT it's a very interesting idea. The problem is that this is a huge endeavor and very easy to fraud, aka I can just send my friend money and dispute and he can file a claim through the sythe insurance.

It is definitely interesting to think about. You could put a cap on the trade amount ($250 for example), you can refuse to pay out on trades with newcomers or other high-risk individuals. Theoretically it's doable. But insurance companies have a huge huge team of people who process claims, verify claims, sell the insurance, price the insurance, etc. and really I don't think anyone has the time or willingness to create all that.

One of the more interesting ideas I've seen on this site

 

Thank you, it is a nice idea if implemented correctly

To SellerMan:
That's exactly my point, this idea would only work if a bullet proof system against fraud can be crafted.

 

It is actually quite a good idea. I really can't see the staff wanting to see this happen though. I really don't think they'd want to moderate it or run it themselves.