The privately held national insurance brokerage and risk management firm Risk Strategies has announced the acquisition of Massachusetts-based Corporate Benefit Audits (CBA).
CBA has operated since its founding in 1992 and provides outsourced claim auditing services to clients including stop loss carriers, managing general underwriters, reinsurance companies and self-funded employers.
Risk Strategies will hope to broaden its employee benefits capabilities in a deal that sees them acquire a company known for creating a unique claim analytic tool, in response to rising cost pressures.
CBA’s emphasis on early identification and management of catastrophic risk issues has driven an expansion in service offerings and an increase in firms seeking their sophisticated talent, resources and technologies.
Steve Kurkul, founder and president of CBA, commented, “We’re excited about joining the respected Risk Strategies organisation, They have a strong, national reputation as smart, technical experts in the employee benefits space, and we see our capabilities and business aligning perfectly with their collaborative culture and direction.”
“Today’s health care delivery system is incredibly complex, making it difficult for all stakeholders to understand if claim obligations are being managed in a cost-effective manner,” said John Greenbaum, Risk Strategies employee benefits practice leader. CBA brings unmatched expertise to this issue that will greatly benefit our client base and add a new service dimension to our practice,” Kurkul concluded.