The Voices of Risk Management The Lucrative Industry of Insuring Collectible Items With Richard Vinhais
Richard Vinhais is the Chief Executive Officer at WAX, an insurance company that protects rare collectible items. Richard shares how you can insure half of a collectible item, what he looks forward to in the expansion of the business, and why it really takes an “insider” to truly understand the pain points collectors go through when it comes to insuring some of these precious items.
Key Takeaways:
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A little bit about Richard and what he does for WAX.
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WAX is a much-needed service in the collector space because the everyday insurer doesn’t understand the true value of some of these unique collector items.
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Richard shares why some of these collectible items are so important for people like himself.
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How did Richard discover risk and insurance?
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Richard shares what it was like working at EY and why the experience was so diverse.
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A lot of times, Richard would work on a project for a few months before moving on to the next project. He loves the variety and being able to experience different industries during those 15 years.
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Did you know ticket stubs are very rare and collectible?
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Why did Richard take a chance and get into entrepreneurship?
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Richard wanted to push himself and try something new, exciting, and scary.
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How does Richard think about insurance within this collectible industry?
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Richard conducts focus groups to better understand what people truly care about.
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In Richard’s spare time, he likes creating art and giving it away to friends.
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What are some hot collectible items on the market right now?
Mentioned in This Episode: