Hop in the (Risk) Pool!

With the summer heat, who doesn’t want to head to the water to cool off?

We do it in our personal lives, why not do it in business, as well?

Want to cool off your operational expenses (OPEX)?

Hop in the pool!

The risk pool, that is.

Insurance companies have been using this strategy for a very long time. They bring together “lives” that are similar in risk profile and insure them in a “pool,” allowing them to reduce exposure via aggregation.

This allows for drastically lower expenses, which means lower prices for their clients (often 20–25% savings).

The best news?

Other companies are adopting this strategy to become more competitive.

For example, when you buy a piece of equipment…let’s say a desktop computer…the vendor not only prompts you to sign up for a maintenance agreement, but practically makes it seem as if it’s the only option.

False.

The service portion of equipment (any equipment with a service/warranty applies) can be broken out into a separate buying process.

This used to be reserved for large organizations with, for example, thousands of desktop computers or a dozen MRI machines.

However, there are now companies who are aggregating and pooling their risk allowing small organizations to lump their equipment maintenance agreements into a “consortium.” Often delivering 25%++ in savings!

Just because you can’t see the gold shimmering at the bottom doesn’t mean it isn’t there.

Hop in the (risk) pool and stop wasting money!