Names New CEO
Names New CEO
Risk International President Todd Miller to become CEO; Move positions company for double-digit growth in risk management, actuarial and benefits sectors
AKRON (April 4, 2017) – Risk International, a leading risk and benefits management firm, announced today the appointment of Todd R. Miller as the company’s CEO. Miller, who has served as the company’s president since 2016, will continue in this role and assume the added responsibilities effective July 1. Michael Davis, the company’s CEO since 2009, will remain with the company as its vice chairman and will be largely focused on business development. The announcement was made by David O’Brien, chairman of Risk International.
“We are a much different company today,” says O’Brien. “In the past five years, we have quadrupled in size, adding benefits advisory and actuarial services, as well as RiskOptics, which leverages our risk management success with large Fortune 500 companies and adapts it for the middle market. Michael was a big part of this growth and will continue to play a key role in taking us to the next plateau as he will now be freed up from the day-to-day operational responsibilities and able to focus on new business and complementary service offerings. Todd is ideally suited to take over the role of CEO because of his strong leadership and communications skills that are necessary to effectively manage a larger organization. Plus, he brings specific experience in the middle market, as well as in benefits consulting—both two new focus areas for our company.”
Miller joined Risk International in 2015 as chief growth officer and executive vice president. Previously he held various leadership positions at Oswald Companies for more than 15 years.
“This is an exciting time to be at the helm of this company,” says Miller. “In an industry in which double-digit growth is practically unheard of, our company has experienced a 341% revenue increase in the past five years. That says a lot about the quality of our work and results we’ve achieved on behalf of our clients. As a fully independent consultant that offers unbiased advice and analysis to optimize our clients’ total cost of risk, we’ve saved clients more than $1 billion.”
Since Miller joined Risk International, the company has, among other things, significantly expanded its footprint in the private equity market and is marketing its newer services in the areas of benefits management and actuarial services to middle market companies.
“When we first brought Todd on board, we felt he possessed the right industry knowledge and leadership skills to manage the rapid growth of the company and all the changes and challenges that come with that growth,” says Michael Davis, current CEO of Risk International. “So in 2016 we put in place a year-long transition program that allows us to leverage all of Todd’s skills—not just his gift to connect with people and quickly assess their needs, but also his technical skills that enable him to put in place the necessary systems and processes to accelerate the company’s growth over the next five years.”
Miller is a double alumnus of Miami University. In 2013, he was recognized as Risk & Insurance® Power Broker™ for his expertise in integrated healthcare strategies, total cost of risk, healthcare reform and alternative healthcare funding strategies.
Although Risk International traces its roots back to 1986, the company’s greatest growth and transformation have occurred since O’Brien led a management buyout of the company in 2012. In 2014, under the leadership of O’Brien and Davis, Risk International acquired Bartlett Actuarial Group to provide actuarial services primarily for captive insurers. In that same year, the company formed Risk International Benefits Advisors to help employers more efficiently negotiate and manage healthcare benefits plans and eliminate wasteful spending.
According to O’Brien, the company just completed another record year of growth and is expecting even larger gains in 2017, particularly in the benefits advisory and actuarial services areas. Headquartered in Fairlawn (just outside Akron), Risk International also has offices in Charlotte and Charleston in the U.S., along with offices in London and Ho Chi Minh City. It is ranked as one of the top three risk management companies in the U.S. by Business Insurance Magazine.