Milliman, formerly Milliman & Robertson, is an international actuarial and

consulting A consultant (from la, consultare "to deliberate") is a professional (also known as ''expert'', ''specialist'', see variations of meaning below) who provides advice and other purposeful activities in an area of specialization. Consulting servic ...

firm based in

Seattle Seattle ( ) is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest region o ...

, Washington. The company was founded in 1947, by Wendell Milliman and Stuart A. Robertson and operates 59 offices internationally, with over 3,000 employees. Milliman is owned and managed by approximately 350 principals. The firm's primary business includes consulting practices in

employee benefits Employee benefits and (especially in British English) benefits in kind (also called fringe benefits, perquisites, or perks) include various types of non-wage compensation provided to employees in addition to their normal wages or salaries. Insta ...

healthcare Health care or healthcare is the improvement of health via the prevention, diagnosis, treatment, amelioration or cure of disease, illness, injury, and other physical and mental impairments in people. Health care is delivered by health pro ...

investment Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is ...

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the dea ...

and

financial services Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, ...

, and

property Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, r ...

and

casualty insurance Casualty insurance is a defined term which broadly encompasses insurance not directly concerned with life insurance, health insurance, or property insurance. Casualty insurance is mainly liability coverage of an individual or organization for ne ...

. The firm also provides data analysis and

predictive analytics Predictive analytics encompasses a variety of statistical techniques from data mining, predictive modeling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events. In busine ...

History

In the late 1940s, actuary Wendell Milliman started a consultancy in the Pacific Northwest. He was later joined by Stuart A. Robertson to establish Milliman & Robertson, Inc. The firm was initially centered mainly on assessing business risk and pension issues. In the retirement plan industry, Milliman provided services in actuarial consulting, consulting on compensation and care, retirement outsourcing, and others. During the 1950s, Milliman & Robertson established the first health insurance benchmarking tool for the US healthcare market. During this time the company began expanding to other states and began offering other services, such as new forms of annuities, and employee benefit plans and pensions. The company’s first international office was opened in Tokyo during the 1990s, which was followed by international offices in several other foreign markets, and the first foreign insurance consulting assignment to be given in the People's Republic of

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...

Milliman indices

Milliman produces economic indexes for the American healthcare and insurance markets, including the Milliman 100 Pension Funding index. The Pension Funding Index examines the liabilities and assets of the top 100 pension funds in the US, establishing the funded status of the group overall. The company also releases an annual Milliman Medical Index, first published in 2001. The Medical Index calculates the total annual cost of healthcare for an American family of four covered by employer healthcare coverage. Between 2002 and 2015, it has shown an increase of 267% in healthcare costs to these family units.

Milliman care guidelines

Milliman Inc. previously owned MCG (formerly known as Milliman Care Guidelines and now known as MCG Health), which has been producing evidence-based clinical guidelines for healthcare organizations since 1990. In 2012, the

Hearst Corporation Hearst Communications, Inc., often referred to simply as Hearst, is an American multinational mass media and business information conglomerate based in Hearst Tower in Midtown Manhattan, New York City. Hearst owns newspapers, magazines, telev ...

acquired MCG.

References

External links

* {{Consulting Financial services companies of the United States Consulting firms established in 1947 Actuarial firms Companies based in Seattle 1947 establishments in Washington (state)