Ultimate Review of Milliman Inc.
Milliman is an international actuarial and consulting company that is based in Seattle, Washington. The company’s main business involves consulting practices in healthcare, investment, financial services, employee benefits, and life insurance.
The company also provides data analysis and predictive analytics services. Apart from their team of consulting actuaries, the firm has many other specialists ranging from economists to clinicians.
History
The company was founded in 1947, by Wendell Milliman and Stuart A. Robertson. The company was first started as a consultancy by Milliman in the Pacific Northwest. Robertson later joined him to establish Milliman & Robertson Inc.
The company was initially centered on assessing business risk and pension issues. In the retirement plan industry, Milliman mainly provided services in consulting on compensation and care, actuarial consulting, retirement outsourcing, etc.
During the 1950s, Milliman & Robertson founded the first health insurance benchmarking tool for the United
States healthcare.
At this time, the company began to expand to other states in America. It also began offering other services like employee benefits plans and pensions, and new forms of annuities.
The company opened its first international office in Tokyo, Japan in the 1990s. This was later followed by international offices in several other foreign markets. The first foreign insurance consultancy assignment to be given was in the People’s Republic of China.
Corporate Affairs
Milliman is an independent company with 59 offices worldwide. The company is owned and managed by approximately 350 principals, the senior consultants whose selection is based on their technical, professional and business accomplishments.
The company was previously branded Milliman & Robertson until it was changed to Milliman.
It has employed more than 3,000 employees.
The company headquarters is based in Seattle, Washington, U.S.
It is led by Stephen A. White as the Chief Executive Officer and Ken Mungan, an actuary as the Chairman.
Milliman was also the former owner of MCG Health (formerly known as Milliman Care Guidelines).
Bottom line
Milliman is one of the best and largest providers of actuarial and related products and services. They have a mission to help their clients protect their health and financial well-being.
Despite experiencing an impressive growth within the past seven decades, the company still operates according to the guiding principles of its founders Milliman and Robertson.
They maintain their rigorous standards of professional excellence, peer review, and objectivity.
The firm remains committed to developing innovative tools and products and providing expert solutions to their customers. This makes it earn the trust of many of its clients. If you were planning to seek actuarial services, Milliman Company would be a better option.
References
http://us.milliman.com/about/
https://en.wikipedia.org/wiki/Milliman