As 1:1 student device programs become more prevalent, self-funding for damages and losses to district-issued devices has become the common practice among school districts. Gallagher’s K–12 Education practice has developed a solution that delivers a flexible, value-driven option compared with purchasing a traditional insurance policy that streamlines administration through an integrated web-based platform.
One2One Risk Solutions brings together three primary strategies to help you fund and manage your loss and damage program in the most organized, cost-effective manner compared with a commercial insurance policy:
Self-funding
One2One Risk Solutions brings a new, innovative approach that completely eliminates direct costs to your school district. Instead of purchasing 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. One-to-one losses normally come one device at a time, so 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.
Parent damage waiver
Families earn substantial savings through self-funding accidental loss and damage versus purchasing commercial device insurance, and even further savings can be realized by forgoing any extended warranty through the manufacturer. 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. It also provides peace of mind that damage to the device will be covered after a modest deductible.
Integrated platform
Our cloud-based administration platform streamlines collection of parent damage waivers, claims management, financial accountability and controls—all in a completely paperless environment designed to enhance IT productivity. The platform also offers complete flexibility and control over the details of damage waivers and deductibles with many schools opting to adjust terms for students in the free or reduced lunch program.