> Insurance that is able to quantify risks precisely and set prices individually based on that is useless.

This is simply untrue.

This may be true for health insurance, because there is a strong moral case to be made that is unfair and illiberal to make people pay more for genetics or simple bad luck that result in them being likely to need more health care.

It is not true for home insurance, where people can choose where to live and choose what kind of housing to live in.

The purpose of home insurance is to reduce time-based variance for disaster, not for people in low-risk properties to subsidize people in high-risk properties.

It is not "solidarity" for someone in a steel-and-concrete house with a metal roof who clears brush and trees from around their house to subsidize someone who lives in wooden mansion who doesn't take any fire precautions. It is a perverse incentive.

> If it has to make any profits - or at least pay salaries - it's guaranteed to be a bad deal for everyone.

Again, it is not the purpose of insurance for it to be positive expected value for people in high risk homes! It is expected for insurance to be negative expected value. The point is to reduce variance.