Just had a look on the LIPS website and because I cannot find that they have underwriters, for the main product they offer, started to look in their costs structure.
At current 9 claims, 1 under investigation
According to themselves 64 pilots required to cope with 1 successful claim: 576 pilots
Overhead:
4 committee members, which receive 6000 aed per month: 61 pilots
2 office staff and an office would it be fair to scale this at 15000: 38 pilots
Membership fees for Harvey Watt: ???
Brokarage Fees for Mondial: ???
Insurance fees for Life Insurance and Legal Insurance: ???
With the above uncertainties counted as zero pilots LIPS needs 675 pilots to be cost neutral, which is a more then a third of the current membership according to the website.
All other products mentioned above most probably have the same or even a bigger cost structure, but are underwritten, which means even if the money in the bank account is gone, you will still get your assigned claim payed out.
Just a financial birds eye few, will dive in the terms and conditions after some sleep...