He'd gotten the money. I was just awestruck. Steve is a doer and a salesman. Ironically enough, says Gluckstern, his training as a teacher helped him in the sales part of his business. You have to convince them how important it is to them to do this algebra thing when it's not apparent to them that it has any meaning at all.
Business is a lot easier than that.
Gluckstern and Palm's corporation, Centre Re, based in Bermuda, was formed in 1988. If their losses were lower than anticipated, they got a percentage of their fee returned. It is now an industry standard. It holds the money in trust. It took all the actuarial stuff out of the equation.