Insurance is available only when the Law of Large Numbers is observed. With a large number of participants, risks can be shared across the pool. Premiums paid by people who do not have sustained loss to cover people who do. For now the ability to form a large pool of participants in an insurance model is limited to insurance companies. It runs with private probability model which is data-mined from credit cards, RFIDs, loan records, browsing records, medical records etc. Our futures are simulated and predicted without out acknowledgement and consensus. Today, with the networked society, the Law of Large Numbers can be achieved by intelligence of the crowds in milliseconds. A probability model can be constructed and shared in the public domain. The Shadow Market is a resilience to the institutionalized insurance industry, one of the most substantial industry in City of London.
