Thank you Buffalo Business First. Starting a fintech startup at 49 was the last thing in my mind 5 years ago.
We had just got the law passed in New York to allow structured settlement experts to work pro bono for victims of terrorism. A professional win.
Then I had a client come into my office who I had built a structured settlement for in 2004, and he admitted that he had sold all of his payments in the secondary market to the companies that advertise on TV. He got about 30% of what he had originally invested. He was broke. And wanted a loan to keep from losing his house which he could no longer afford.
I was mad. I raged at a system that allowed a fellow citizen to be taken to the cleaners, someone I had worked hard to protect when his lawsuit first settled.
Selling structured settlements have been law since 2003, and the industry has done nothing to protect the people they benefit from having as financial customers.
Never before has there been a professional who creates structured settlements, get into the business of unwinding them.
I committed then to figuring out how to ethically launch a company that would respect and have compassion for people who, for all of life’s difficult circumstances had to face the daunting task of selling their structured settlement.
Today, we’ve been at this work for 3 years, we’ve self funded our tech, and have been advertising using google adwords to let people know there is a company whose founders care about the outcomes of people post litigation. Our “marketplace”, and online service essentially brings buyers and sellers together. People with money, helping people without it.
It feels great to still be doing good in this market. http://Www.crowfly.com
A West Point graduate where he served as captain and military aviator, John Bair continues his commitment to our country through his efforts within the settlement planning industry. He has represented families of victims lost in the Flight 3407 crash, offered pro bono services to the families of 9/11 victims and drafted the first consumer protection bill for plaintiffs (H.R. 3699).