Introduction & Overview
One2One Risk Solutions is a comprehensive web-based administrative platform designed to help you fund and manage accidental loss and damage to your school-issued 1:1 electronic devices. This innovative program brings your administrative team the tools they need to manage the enrollment, inventory, claims, and financial management functions of your 1:1 risk management program–all in one, integrated cloud solution.
One2One Risk Solutions was developed by Arthur J. Gallagher & Company’s Scholastic Practice, the leader in education risk management, serving over 3,500 public school districts throughout the country. We worked closely on this project with one of our valued clients who was later awarded the International Association of School Business Official’s 2013 Pinnacle Award for innovation in school business management for the design, financing and administration of his school’s 1:1 program.
The result? One2One Risk Solutions brings together three main strategies to help you fund and manage your loss and damage program in the most organized and cost effective manner:
Self-Funding - Parent Damage Waiver - Integrated Platform
Rather than purchase conventional insurance to protect devices issued to students, the exposure presented to your school in a 1:1 program is well-suited for a self-funded model. Insurance is best purchased where a low frequency of claims is expected, but high severity is possible. In other words, insurance makes sense when a potential loss might not be affordable or where it could have a significant impact on your budget. Self-funding is the opposite. It works best when claims may be higher in frequency, but the risk of an expensive claim is limited. 1:1 losses normally come one device at a time and when multiple devices are damaged in a single event such as a storm, fire or theft, your school’s existing, master property insurance policy will cap the financial loss.
2. Parent Damage Waiver
Parents are directed by your school to the One2One Risk Solutions website to purchase a damage waiver, much like a collision damage waiver in the rental car industry, and that money is used by the school to fund losses as they occur. It takes wonderful advantage of the cost efficiency of the self-funded model and also provides your school with a reasonable source of capital to pay for losses when they happen. And by having individual families retain financial responsibility for the device, the risk is held by those who are in most control of how the device will be treated–a proven risk management principle.
So, what do families receive in exchange for purchasing a damage waiver? In the event of a loss, they will cap their financial obligation to a reasonable deductible set by your school, instead of bearing the full weight of the loss or damage. This model has been working exceedingly well across the country and it is our experience that parents both understand and can appreciate that they have a fiscal responsibility to keep the device safe.
Electronic device manufacturers will normally provide a one-year warranty for internal defects and breakdown. Your One2One Risk Solutions funding program will then wrap around the manufacturer’s internal breakdown warranty and provide coverage for accidental loss and damage, not covered by the warranty, for the full life of the device. But the funding program can also be designed to fill in where the manufacturer’s internal breakdown warranty leaves off after year one, providing even more savings over the purchase of an extended warranty. No matter how One2One Risk Solutions is used, substantial savings can be seen through self-funding accidental loss and damage versus purchasing commercial device insurance, and even furthersavings can be realized by forgoing any extended warranty through the manufacturer.
And all types of electronic devices can be covered by the program. Since it is self-funded and completely flexible, it doesn’t matter as much what is being covered, as much as how the loss program is being funded.
3. Integrated Platform
There are many benefits to implementing a self-funded, parent damage waiver model, but those advantages grow substantially when a web-based administrative platform is added that allows your team to manage all aspects of the program with one system. This is the One2One Risk Solutions advantage.
It offers cloud-based administration from collection of the parent damage waivers, to claims management, to financial accountability and controls – all in a completely paperless environment designed to enhance IT productivity.
The platform also offers complete flexibility and control over details of the damage waiver and deductibles with many schools opting to adjust terms for students in the free or reduced lunch program.
Third party payment collection shifts the burden of collecting parent damage waiver and deductible payments over to the system where credit card, debit cards and online checks are accepted. An innovative pre-paid card system can also be utilized for parents who may only pay with cash.
There are many financial rewards available through implementation of the self-funded model and financial responsibility is appropriately assigned to parents and students where control of the device lies.
One2One Risk Solutions minimizes the expense of the program to parents over passing on the cost of traditional device insurance. It also gives them peace of mind that damage to the device will be covered after just a modest deductible.
The program encourages student responsibility and citizenship through the financial investment involved in purchasing a damage waiver and application of a reasonable deductible in the event of a loss.
It supports academic success by minimizing device downtime, providing more opportunity for student engagement, and leaving school officials with more time to focus on the academic side of their 1:1 initiative.
The system also has inventory and tracking features that may serve as a school’s primary 1:1 device inventory and includes access to its robust administrative functionality and reporting.
And the claims system built into One2One Risk Solutions offers IT administrators a platform to manage and track claims, and automatically bills parents the agreed deductible through a system email. The email simply directs them back to the website where they finish processing their claim and pay the deductible online.
Putting It All Together
Combining the three strategies of self-funding, use of a parent damage waiver, and making it all work through a seamless, integrated system, gives you the best model, delivered by a proven company, and with the technology our clients love.
If our proven solution seems like it may fit well with your school’s 1:1 initiative, or you just have questions, please do not hesitate to contact us for more information or an exploratory conference call. Let us show you what One2One Risk Solutions can do to enhance what you are building.