Laka will provide a platform turning insurance as we know it on its head. Laka aims to reverse the trust relationship with retail customers by only earning fees when acting in their best interests, settling claims. There are no upfront payments or premiums, instead at the end of each month claims are settled for a group (risk pool) plus a fee. The cost for each individual member is capped by a reinsurance contract (meaning that any cost over a certain limit will be paid by the reinsurer). Thus, the consumer has confidence that the maximum they will ever pay will be the same as a traditional insurance policy but if claims performance is better than expected everyone will share in that improvement. Consumers are also incentivized to behave in the right way, reducing the number of claims.