Kevin Tawil

We're no longer traveling to Houston, we're traveling to Nashville to get this up and running.

And there was a big aha within a month or two, because essentially, round numbers, the customer paid $3 a month for this insurance, and you give 50 cents to the carrier as a billing collection fee.

And then $2.50 of that would go to basically the underwriter who managed everything.

And that $250, the Merrimack Group only got 50 cents of it.

The other $2 went to the underwriter to pay for claims, to pay for the logistics of getting those phones to the customers, and to pay for profits that they would get.

Even though the $250 was managed by the Merrimack Group.

Whoa, hold on.

We're managing it.

We know everything.

We know the economics of this.

We know the risk.

We understand the risk better than anybody else, better than the underwriters themselves, because we see it real time.

And so the first move we make, which changed everything, was, no, no, we capture the 250, and that becomes our revenue, not the 50 cents.

We didn't know that before.

We brought in an insurance expert who basically quickly told us, no, no, no, you don't need the insurance company.

You can rent their licenses.

And so immediately, instead of them taking the risk and controlling all that, we took that on and we rented their insurance license for a few percentage points, maybe five at that point, and now it's a lot less.

But that gave us control of everything.

And now we're like, okay,

Yeah, sort of game on.