Employee Benefits Actuarial Services
USI’s employee benefits practice is designed to optimize benefit plans through comprehensive cost containment, best-in-class pricing, regulatory compliance, and superior account service.
Underwriting and Analytics
- Our actuarial services focus on analyzing data from multiple sources to manage and negotiate your health plan costs to meet the needs of both your employees and your organization.
We take a comprehensive approach to underwriting and analytics, incorporating data beyond the traditional claims information, including corporate culture and objectives, utilization metrics, and industry norms to evaluate your healthcare program, review alternative models and funding methodology, and develop recommended plan design alternatives.
Specific capabilities and areas of our underwriting and analytics services include:
- Audit of plan performance and contractual features
- Claims risk analysis
- Renewal projections
- Market review/carrier negotiations
- Contribution analysis
- Fully insured equivalent rate development
- Network analysis
- Regular financial reporting
Employee Benefits Administrative Solutions
USI's employee benefit services offers a broad and deep set of measurable employee benefit solutions that help our clients use their employee benefit offerings to attract talent and improve retention while maintaining an efficient and affordable cost structure.
Human Resource (HR) Services
- We provide administration platforms, employee service centers, and service calendars to ease HR’s administrative burden. Areas of focus include:
- Company-branded communications campaign
- Content and curriculum creation
- Provide media, including onsite promotional material, resources for managers, benefit brochures, and employee on-demand presentations
- HR Technology Consulting
- Online communication and enrollment capabilities
- Benchmarking of Benefit Plan designs
Compliance & Healthcare Regulation
- USI makes it our business to keep up with benefit-related regulations, employer responsibilities, and state and federal law changes—and to communicate any relevant information to clients. Our network distributes compliance update emails monthly and when an event requires immediate action or attention. Services include but are not limited to:
- Updating clients on legislative compliance issues
- Monitoring insurance company solvency
- Assisting in contract/legislative interpretations
- Assisting with questions related to federal law, including ERISA, COBRA, HIPAA, etc.
- Assisting with the preparation of Form 5500
- Providing periodic bulletins on healthcare reform and statutory updates
Healthcare Management and Wellness Services
USI’s team of benefit consultants provides detailed analysis and deploys innovative solutions to reduce healthcare costs for employees without sacrificing quality of care.
Population Health Management (PHM)
- We help our clients understand effective population health management and partner in developing a long-term strategy. USI consultants:
- Integrate health management into a comprehensive benefits strategy
- Design strategic incentives to increase participation
- Utilize data warehouse tools to identify intervention opportunities
- Identify and supervise vendors, offering preferred vendor pricing
- Assist with program implementation and evaluation
Care Intervention
- Our team of consultants and clinical experts provide detailed analysis and deploy innovative solutions to reduce healthcare costs without sacrificing quality of care. We help clients:
- Reduce unity cost/frequency for care
- Evaluate alternative reimbursem*nt strategies
- Reduce gaps/risks in care
- Evaluate alternative care settings
- Implement ROI analysis/modeling
Pharmacy Benefits Management (PBM)
- Our pharmacy tools provide innovative, transparent, cost management capabilities to reduce pharmacy spend and enhance offerings, including:
- Pharmacy trend, benchmark, and performance analysis
- Rx pricing strategies/program management
- Specialty program review
- Our analytical approach incorporates data such as historical utilization metrics, detailed claim utilization by medical category, large claim review, plan financial position, corporate objectives, and predictive modeling.
Ancillary Benefits
- We review ancillary benefits to measure plan effectiveness, maximize value and employee satisfaction. USI helps define needs, identify providers, establish performance goals, and monitor results. Programs include:
- Disability, Dental, Life
- Return to work strategies
- Supplemental & voluntary plans
Property & Casualty: Risk Management and Insurance Services
We provide risk management and insurance solutions on broad risk exposures such as workers’ compensation, property coverage, general liability, auto liability, umbrella/excess, executive and professional risk, cyber and privacy liability, environmental, product liability, international, claims and risk control, and more. We serve across industries, helping clients with operations both domestic and abroad.
As a broker service for “leading edge” risk management, we also act as an outsourced risk management unit, helping protect assets, reduce liability, and lower cost of risk. We work closely with clients to understand risk tolerance, financial goals, and help them make better decisions about risk via our research and analytics team.
We identify and analyze client risks and find solutions to help eliminate or minimize them. We also quantify risk to let clients weigh the trade-offs between risk assumption and risk transfer, as well as evaluate risk funding options.
Services we offer include but are not limited to:
- Risk identification and assessment
- Program design
- Insurance procurement
- Contract review and alignment with insurance coverage
- OCIP and CCIP capabilities
- International risk management
- Risk control and claims management
- The USI Account Management team also assists with certificate management, handling all certificate-related questions and adhering to an insurance turnaround time of 24 hours. We also invest in resources to produce secure paperless web-based tools that allow us to communicate electronically with clients.
With the financial clout to secure the pricing and terms that align with your financial goals, we provide access to worldwide insurance markets and the leverage needed to fully represent client interests with strong underwriters.
Property & Casualty: Analytics and Placement
Property Analytics & Placement
We utilize industry expertise, modeling tools and analytics to assess risk exposures, design coverage, set pricing, develop underwriting specifications and create custom program options, establishing the “ask” of the market for optimal results.
Casualty Analytics & Placement; Alternative Risk Solutions
Using proprietary actuarial tools to analyze loss trends, historical/future exposures, cost projections, collateral impact, accruals and market receptivity, we take control of the placement process and designing the optimal coverage and risk financing program, including loss sensitive programs and captives.
Executive & Professional Risk Solutions
Our Executive & Professional Risk Solutions (EPS) Practice is staffed with more than 35 professionals who average more than 20 years of experience. Our expertise extends to publicly traded, privately held and not-for-profit organizations (including municipalities) across all industries.
We align our expertise with USI’s industry vertical specialization to deliver bespoke brokering and claims solutions in the following risk areas:
- Directors and officers liability (D&O)
- Employment practices liability (EPL), including wage and hour and workplace violence
- Fiduciary liability (ERISA)
- Crime and fidelity bonds
- Special Crime (Kidnap, ransom, and extortion)
- Errors & omissions (E&O)/ Professional Liability
- Cyber risk and liability, including privacy, network risk and technology E&O
- Media liability
- Transactional risk, including representations and warranties
- Specialty areas: Financial institutions, general partners liability (GPL)
Specialty Lines – International, Environmental, Aviation
International Practice
USI’s international practice provides international expertise and service to clients operating globally. Located across the U.S., our International Practice teams are dedicated to helping clients address their risk exposures, providing technical expertise in multi-national program design, implementation, regulatory compliance, and client service delivery through our network of 200 brokers across more than 120 countries.
Environmental Practice
We provide targeted, exposure-specific solutions to develop risk transfer & loss control programs, including program analysis & benchmarking, placement, contract reviews, due diligence, risk strategy on transactions and claim advocacy.
Aviation Practice
As former underwriters and active pilots, the USI Aviation team provides first-hand, comprehensive knowledge of the aviation sector. We analyze exposures and design comprehensive aviation insurance programs across all facets of aviation risk management including aircraft, helicopters, airports, flight schools, manufacturers, maintenance/repair and refuelers.
Risk Control Solutions and Claims Advocacy & Consulting
USI’s property and casualty team addresses risk exposures and financial challenges for organizations, advising clients on managing risk in targeted, systematic ways that focus on technical issues, administrative concerns, risk management and risk financing. Our commercial P&C insurance resource team is comprised of dedicated technical experts networked nationally and embedded in local offices. Their skills span a variety of disciplines including casualty analysts, property analysts, claim advocates, risk control specialists, executive liability MPS/D&O specialists, marketing specialists, international experts, consultants and account managers from around the country.
Risk Control Solutions
- We believe that employees are an organization’s most valuable asset. We understand the importance of ensuring employee safety, while maximizing the use of insurance in a cost-effective manner. We normally suggest the following risk control strategies:
- Exposure assessment
- Ergonomic evaluations
- Business interruption analysis
- Business continuing planning
- Regulatory compliance
- Training on environmental, health, and safety topics
- Fleet site safety evaluations and safety training, workplace safety training to mitigate risk, online training through Risk Management Center
- Workplace violence workshops
- Return to work/modified duty consultation
- Seminars and workshops including OSHA courses
- We also provide regulatory consultation and code compliance review of safety and health programs, including catastrophe perils modeling, property valuation services, emergency planning, property protection assessments, coordination of carrier loss control services, and advocacy and cost-benefit analyses surrounding carrier loss control recommendations.
Claims Advocacy & Consulting
- We deliver high-impact advocacy and consulting services with the primary goal of optimizing claim outcomes in the event of a loss, mitigating a client’s overall claim costs, and maximizing claim recovery.
Our approach blends the attentiveness of expert professionals with seamless access to pan-regional and national resource depth and specialization. Our objective is to complement and support your overall risk management objectives by providing advice and deploying resources to support those objectives.
Personal Risk Services
As a top five privately held personal risk brokerage firm, USI’s Personal Risk Practice has developed an innovative approach for personal risk solutions; real-time, interactive, and customized for each client to identify exposures and tailor coverage to meet their needs. We are focused on delivering actionable, measurable risk solutions that protect income and wealth, enhance coverage, control costs, and provide more efficient investment of premium dollars. USI’s expertise provides protection across the economic spectrum serving individuals, families, emerging wealth and Family Offices.
Solutions include:
- Property, Homeowners, Farm & Ranch – Protection for damage to real and personal property including ensuing loss for diminished value and loss of use.
- Automobile – Specialized offerings to complement a wide range of vehicles and driving needs for auto policies with a companion home policy.
- Umbrella – Additional layers of protection from potential lawsuits that keep pace with wealth accumulation and earning power.
- Recreational – Insuring the recreational vehicles that come with your success: jet skis, ATVs, snowmobiles, watercraft and aircraft.
- Workers’ Compensation for household staff – Statutory benefits for workers in the home as directed by the law of the State of residence.
- Directors & Officers/Executive Risk – Protection from the risk of legal action for non-profit board service.
- Specialized products such as family office group excess, kidnap and ransom, identity theft, cyber coverage and private collections.
Retirement Consulting
USI Consulting Group is an industry-leading, full-service retirement plan consulting and benefits administration firm. Our integrated team of highly skilled professionals provides specialized expertise in defined contribution [401(k), 403(b), 457] and defined benefit pension plans. Our innovative, flexible solutions enable employers to drive positive outcomes for their organization and employees:
•Offer cost-effective, competitive plan to attract & retain talent
•Secure protection & mitigate risk through fiduciary oversight
•Ease administrative burden, saving time & money
•Enhance employee education & improve retirement readiness
Key services include:
- Investment Advisory* - Independent, high-level investment strategy and consulting services to help clients meet investment objectives and fulfill fiduciary obligations.
- Plan Design & Benchmarking - Design and optimize the retirement plan using our proprietary benchmarking analysis to improve employee participation, pricing, technology, investments and service.
- Regulatory & Compliance Support - Team of experts analyze the potential impact of legislative and regulatory changes, simplify complex compliance issues, ensuring plan is compliant and mitigate risk.
- Recordkeeper Provider Search - Specialized team and proprietary database to evaluate and determine best fit while reducing fees.
- *Investment Advice provided to the Plan by USI Advisors, Inc. Under certain arrangements, securities offered to the plan through USI Securities, Inc. Member FINRA/SIPC. 95 Glastonbury Blvd., Glastonbury, CT 06033 | 860.652.3239 | Both USI Advisors, Inc. and USI Securities, Inc. are affiliates of USI Consulting Group.
