Risk Strategies Acquires Cambridge Advisory Group
Actuarial and benefits consulting firm adds to firm’s leading national employee benefits practice
BOSTON, March 17, 2022 -- Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced it has acquired Cambridge Advisory Group, a pharmacy, actuarial and benefits consulting firm based in Pennsylvania. Also included in the purchase was the associated entity Health and Productivity Consulting, Inc. Terms of the deal were not announced.
Fundamentally a data analytics firm staffed by industry leading specialists in health, welfare and retirement consulting services, Cambridge Advisory Group was founded in 1999 and is today headquartered in King of Prussia, Pennsylvania. Experienced across a variety of industries and supported by advanced proprietary data tools, Cambridge’s differentiated capabilities produce a unique model that informs the findings of data analytics with state-of-the-art subject matter expertise.
“Cambridge Advisory Group’s expert, holistic consulting is right in step with our specialist approach to solving complex client challenges,” said John Greenbaum, Risk Strategies National Employee Benefits Practice Leader. “Its information-driven model and skill in interpreting the data with actionable guidance is a great fit for our business and our clients.”
Isolating exceptional cost drivers is one way Cambridge builds highly effective strategies to reduce client costs and manage risk. Using large data sets sourced from client claims files, health insurers and pharmacy benefit managers, Cambridge employs proprietary data analysis tools to help its practitioners, including actuaries, accountants, clinicians, and revenue cycle enhancement specialists identify non-obvious causes of increased medical, prescription drug, and retirement plan costs.
“A business as specialized as ours needed a national-scale partner with a similar focus on expertise-driven, client-first innovation,” said Stuart Piltch, Founder & CEO of Cambridge Advisory Group. “Risk Strategies offered a unique opportunity for us to dramatically scale up our business in an organization of like-minded specialists eager to collaborate on complex problems.”
The Cambridge team adds new depth and strengthened capabilities to the company’s employee benefits practice including in its actuarial analysis, and data analytics for captive management. Risk Strategies’ National Employee Benefits Practice is uniquely positioned to help today’s organizations stay in compliance with an ever-changing regulatory environment while controlling costs and maintaining benefit plans that attract and retain the talent needed to compete.
Risk Strategies continues to acquire complementary companies that have a unique and compelling value proposition and are additive to the Risk Strategies family. Over 100 organizations, each with specialty expertise and capabilities, have joined the company since its founding in 1997.
To learn more about Risk Strategies, please visit www.riskstrategies.com
About Risk Strategies
Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles, and San Francisco. RiskStrategies.com.
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