Risk Strategies Expands National Employee Benefits Practice with Acquisition of National Insurance Consulting Group
Latest addition adds to company’s presence, practice lines in Florida and Georgia
BOSTON, August 20, 2019 -- Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced it has expanded its presence in the Southeast United States with the acquisition of National Insurance Consulting Group, LLC (NICG), an employee benefits and human capital consulting firm. Terms of the deal were not disclosed.
Founded in 2014 by Zain Hasan and named one of the 2019 Inc. 5000 fastest-growing private companies in America, NICG offers benefits consulting, outsourced benefits administration, human capital management software delivery, and outsourced HR. With locations in Atlanta, GA and Fort Lauderdale, FL, the firm specializes in creating alternatively funded employee benefits programs for middle market businesses in a variety of industries and providing mid-market organizations consulting expertise, previously reserved exclusively for large, national-scope firms.
“The uncertainty in today’s benefits environment requires specialists who can expertly combine innovative funding approaches with technology to deliver great programs that control costs,” said John Greenbaum, Risk Strategies’ National Employee Benefits Practice Leader. “NICG has proven abilities in both areas and will be a great fit in our practice.”
NICG has made significant inroads into a number of specialty industries over its five years of operation that match-up well with those served by Risk Strategies, including family offices, private equity, professional services, technology firms, charter schools and higher education institutions.
“NICG’s proven approach turns health plans into a competitive advantage with better benefits and quality of care,” said Zain Hasan, NICG’s Founder and CEO. “As part of Risk Strategies, our clients will have access to similarly effective risk and liability management capabilities for virtually any aspect of their operations.”
In addition to crafting alternative funding strategies and tailored, insurance-based employee benefits programs, NICG supports its clients by deploying solutions as part of a multi-year strategic benefits planning process. The firm also delivers holistic well-being program development, analytics-based insights and benchmarking relevant to both industry and geography.
Risk Strategies’ employee benefits practice has grown steadily in recent years with strategic acquisitions intended to bolster expertise both in core benefit plan design areas and in those that help clients effectively manage a rapidly evolving benefits environment. In 2018, for instance, Risk Strategies acquired Corporate Benefit Audits (CBA), a Boston-area firm providing claim outsourcing and audit services to the medical stop loss, managed care and self-funded industries.
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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