Our consultants have been helping insurers succeed for decades, from solving their biggest strategic challenges to addressing small issues one detail at a time—and everything in between.
Success in insurance is a dance between mastering details and envisioning the future performance. Our consultants are schooled in those steps. We work with insurance companies, managed care organizations, Blues plans, long-term care insurers, and disability insurers. Our strategic advice is grounded in details and our technical work always references the business imperatives. We bring this discipline to help our clients deal with change: diversification, consolidation, global competition, consumerism, and technology.
Getting it right means knowing the business
Our work not only gives answers and solves problems, it opens a window into your organization. From rate filings to medical management to outstanding claim liability calculations, Milliman provides both the right answers and a valuable discernment that helps our clients excel.
Client example: Insurer turns to Milliman to reverse losses
Too often, insurers wait to ask for help until they need a turnaround plan. As with a sick patient, the key to the cure is an accurate diagnosis. A large insurer experiencing significant losses turned to Milliman. Our actuaries evaluated the insurer’s portfolio of product design and pricing against its competition; our clinicians and operations experts reviewed medical and network management; and our IT consultants examined compliance with fee schedules and outlier claims handling.
We integrated the findings of our broad approach to create a prioritized action plan and demonstrated the financial value of each action. This approach allowed the insurer’s executives to choose an effective course and gain agreement from management and staff.