Q&A with Wade Eyerly
Co-founder and CEO
Principal Series:
EIC (The Education Insurance Corporation) is pioneering a novel insurance product that guarantees college students earn more money by graduating college. Higher education is the largest uninsured investment market in the world, and Wade Eyerly and his team have developed the first insurance product to hedge that risk offering college graduates a guarantee that has never before been possible.
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What is he problem you seek to solve?
Colleges face more competition than ever before and are coming to terms with a scary fate: insolvency and closures.
Since 2016, there have been 131 major college closures and 800 are now facing “critical strategic challenges” reported by E&Y.
The coming 10-12% drop in college-going students will add significant competitive pressure to an already tight market for students.
What is the EIC solution look like?
Our American Dream insurance works with universities to guarantee their students increased earnings in the years following graduation.
How does EIC work
Universities buy our policies to cover their incoming class, are able to market the guarantee and we reinforce to students that they have a guarantee on earnings, if they simply graduate. Students then send proof of graduation and 5 years of W2/ Tax Returns. If students haven’t out earned their coverage level, we pay them the difference.
Wade Eyerly
- Founder, SurfAir
- Built airlines on both coasts, raised multiple rounds of venture financing and scaled a rapidly growing airline
- Economist at Pentagon
- U.S. Intelligence Officer, served one tour in Iraq
- Served on Mitt Romney’s National Finance Committee
- Advance Representative for U.S. Vice President