Spring Consulting group

Spring Consulting Group provides actuarial services relating to risk management, insurance, and health benefits from boutique companies, mid-level companies, and large corporations.

They divide their assistance process into three separate phases; the vision phase, the insight phase, and the results phase. During the vision phase, they try to find practical, cost-effective solutions to fit the needs of individual companies. They run different scenarios to understand the potential outcomes of using various insurance models, benefits programs, and investment risk analysis. During the insight phase, they find the best combination of insurance and risk policies that fit the unique needs of a company. During the results phase, they implement the program they develop with the client and make recommendations and adjustments.

Spring Consulting group offers a series of insurance services and breaks down the benefits and risks associated with each type of insurance. Using the risk financing continuum, they offer fully insured or partially insured options as well as self-funded self-insurance and captive formal funding options. The company advocates for its Spring Care system (Captive Analytical Risk Evaluation), which addresses the different ways that a company can use captives in combination with other types of insurance. They outline the benefits of captives such as reduced costs, custom benefits programs, added cash flow, and reducing risks for finance. If the risk and expense of a single captive is overwhelming for a company, they also offer ways to bundle with other companies to create a collective group captive. This type of joint management lowers the cost of insurance services and reduces the need to purchase reinsurance protection.

Similarly, the agency offers RRG (Risk Retention Group) services to cover other aspects of the business, such as compliance management, developing custom benefits packages for employees, and avoiding redundant services and litigation. Spring is even a partner with BSwift, an H.R software that provides custom dashboards, self-service shopping benefits management, reporting, and compliance management, as well as Cobra and billing tools.

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