Benefits Advisory

Achieved through
using a proprietary
approach free from
insurance industry
and vendor conflicts.

The Problem

After being spun-off from a Fortune 50 company, this new organization with 2,000 employees was challenged to rise up from the shadows of a massive entity and improve upon procurement and plan management protocols. This task was made more challenging given healthcare cost increases and a mandate not to shift cost to employees.  The company was faced with a headwind increase of $1.5M.  They expressed dissatisfaction with their long-standing, top-five, national management consultant.  The consultant felt that the increase was in-line with industry norms and acceptable, rather than challenging the status quo.

The Risk International Solution

RIBA immediately deployed their Benefits Advisory services and Check 173™ diagnostic tool in order to optimize benefits costs and identify savings initiatives. They guided the senior executives through an objective evaluation of their benefits plans and vendor arrangements. This drove an elimination of waste and excess cost, which led to cost mitigation strategies yielding an overall savings of $5M, without disrupting services to the company or employees.

The Results: Client saved $5 Million in benefits plan savings

RIBA’s blend of insider expertise and industry independence created true alignment and guided the appropriate combination of market solutions and negotiated arrangements; minimizing cost and maximizing impact.