Insurance is not a current product offering? I think you're trying to pitch a financial product without a deep enough understanding of finance as a concept and perhaps as an industry.
If, for example, Hertz wanted to stop requiring a $250 deposit on vehicles and instead take a $22 fee, they could approach any large insurance company and find out if they would underwrite it. That company's actuaries would assess the risk of a typical Hertz customer and either say that, yes, $22 is enough to cover losses, or no, it needs to be higher.
In fact, Hertz may already do this. A $250 deposit is incredibly low for someone renting a $20-40k vehicle with nothing more than a driver's license and credit card.
If, for example, Hertz wanted to stop requiring a $250 deposit on vehicles and instead take a $22 fee, they could approach any large insurance company and find out if they would underwrite it. That company's actuaries would assess the risk of a typical Hertz customer and either say that, yes, $22 is enough to cover losses, or no, it needs to be higher.
In fact, Hertz may already do this. A $250 deposit is incredibly low for someone renting a $20-40k vehicle with nothing more than a driver's license and credit card.
Source: I'm a partner in an insurance startup.