Home Maintenance Insurance
Proposed as a new solution to Maintaining a home takes a lot of work.
The problem with home maintenance is that the involved parties have disjointed incentives:
- Homeowner wants to maintain the house as perfect to increase value and comfort
- Insurance doesn't want to pay for maintenance
- Contractors want to milk the situation and make more money
So, what if we create a Home Maintenance Insurance company that has a small equity stake in the house in exchange for maintaining it in tip-top shape? The homeowner can buy the equity ownership if he/she wants at any time or pay partially for maintenance.
Using Machine Learning, we should be able to underwrite the premium = equity as closely at possible.