4 ms·
The concept of social impact bonds is not used often enough, but not new [1]. I first read about them about a decade ago, tried to get some politicians and civ
by wjnc 8y ago
The concept of social impact bonds is not used often enough, but not new [1].
I first read about them about a decade ago, tried to get some politicians and civil servants engaged but alas.
And then in 2017 my firm, regular profit-seeking listed insurer, suddenly participated in one... I was amazed.
We give a subset of insured the option of a different treatment with regards to working while dealing with cancer (we insure the employer), a university takes care of the experiment and experimental power, other business partners deliver interventions and the banks have structered a SIB. All in motion right now. I got together with my colleague: his biggest take away: structuring a deal like this takes two to three years. He pulled it of partially because we had investments in the business partners and hence a better relation to start with.
If they can make that time to market go down, the amount of possibilities are endless. Most entrepreneurs don't have the time navigating literally 4+ different tables (banks, corporations, university, government agencies) all with agendas at the same time.
[1] https://en.m.wikipedia.org/wiki/Social_impact_bond https://en.m.wikipedia.org/wiki/Social_impact_bond