Spring’s employee benefits actuaries work with clients across all employee benefits, including health, life, disability, pension, and other employee benefit programs. Our team of actuaries bring their deep expertise and skills to help our clients solve complex and unique challenges. We work with broad sets of data in our financial modeling and leverage data driven insights to help our clients make better, informed decisions. Spring provides a full range of strategic and technical employee benefit consulting and actuarial services to employers, strategy and product development advice to insurance and financial institutions, and overall consulting on financing and funding solutions for benefit programs to governmental regulators, and other private and public sector organizations spanning a wide variety of demographics.

Employer Benefits Plan Services

Spring’s full service actuarial team tackles all actuarial components of a well-run employee benefits program. Below are some of the biggest ways we assist our clients.

Captive Feasibility Studies and Ongoing Captive Work

Perform captive feasibility studies for both new captive prospects and companies with existing captives looking to optimize their captive program. For ongoing captives, we provide annual regulatory reserve development and review, funding analyses and pricing/premium development.

Financial Projections

Spring’s team has extensive experience with providing the required expected and adverse pro forma financial projections for insurance entities, captive and risk retention group structures. Our simulation experts also run proforma simulations and develop results at various confidence levels to address required captive capital, probabilistic loss outcomes and other financial metrics at different confidence levels.

Reinsurance/Risk Transfer Testing

We have significant experience with the various reinsurance structures utilized by captives, commercial carriers, and self-insureds. Our reinsurance risk transfer work starts with the review of a reinsurance agreement and then tests the agreement and underlying data for transfer of risk.

Retention Analyses and Total Cost of Risk Analyses

Understanding the level of expected loss and allocated loss adjustment expenses at various retentions is a key factor in being able to minimize the total cost of risk for an insured’s risk management program while providing insight into the risk versus reward relationship. Obtaining carrier quotes at the various deductible/self-insured retention levels being assessed is also an important factor in the final decision-making process. Total cost of risk considers total captive and carrier premiums, retained losses, related loss adjustment expenses and other direct/indirect risk related costs.

Regulatory Support

Spring’s actuaries routinely work with state departments of insurance to review the work of other actuaries. This includes captive application reviews and financial examination reserve reviews.

Simulation Analyses

Simulation techniques are often used by our team to forecast financial outcomes at various probabilistic outcomes (i.e., confidence levels). We also utilize simulation analyses for reinsurance risk transfer testing.

Statement of Actuarial Opinion

Spring provides Statement of Actuarial Opinions on the adequacy of loss reserves for insurance companies, captive insurers, and risk retention groups. A loss reserve analysis is generally performed to support our opinions.

Our diverse actuarial experience and expertise provides us with the depth necessary to tailor unique, innovative, and holistic solutions for your financial and risk management needs. We deliver attention to detail, fresh thinking, and creative strategy to translate your vision into turnkey results. We help our customers address the challenges they face around actuarial analyses and risk financing by introducing them to innovative and integrated solutions that ensure overall interests.

We bring the following to the table

• Thought Leadership
• Objectivity and Independence
• Advice Based on Data Driven Insights to Support Decisions

Speciality Areas

• Healthcare plans
• Pension plans
• Life insurance plans
• Short-term disability and long-term disability plans
• Paid leave programs
• Voluntary benefits
• Captives