Alera Group, a top independent, national insurance and wealth management firm, today announced the acquisition of Related Risk, a third-party administrator (TPA) that helps insurance companies and employers generate new premiums and profits by accelerating product speed-to-market while ensuring compliance with emerging and evolving statutory disability and paid family leave benefits.
“Under the leadership of Dave and Shep Sepaniak, Related Risk is an exciting addition to Alera Group. We look forward to leveraging their expertise in leave and absence management services across our entire benefits platform. As we work to enhance the experience of our clients, Related Risk’s flexibility, agility and the ability to offer leading edge solutions are a welcome addition,” said Alan Levitz, CEO of Alera Group.
Serving New York, New Jersey and clients nationwide, Related Risk helps enterprises and organizations quickly and seamlessly deploy new products and programs, enter new markets, and expand existing offerings in weeks-to-months instead of months-to-years. The company delivers credible and compelling leave of absence products and services that establishes an effective pricing model and go-to-market strategy for their clients. Their integrated, end-to-end administration crosses four core program components: policy, premium, claims, and financial operations.
“Insurance companies, associations, and large employers trust us because we provide a high-touch, high-quality integrated service that outperforms their existing solutions, generating more revenue for their business sooner, with less cost and liability,” said Shep Sepaniak, Managing Partner at Related Risk. “From advisory services to compliance, administration and risk, our team is dedicated to providing integrated, end-to-end, customized service and we’re thrilled to join Alera Group and expand our offerings.”
The Related Risk team will continue serving clients in its existing roles. Terms of the transaction were not disclosed.
About Alera Group
Alera Group is an independent, national insurance and wealth management firm with more than $650 million in annual revenue, offering comprehensive employee benefits, property and casualty, retirement services and wealth management solutions to clients nationwide. By working collaboratively across specialties and geographies, Alera Group’s team of more than 2,000 professionals in more than 100 offices provides creative, competitive services that help ensure a client’s business and personal success. For more information, visit www.aleragroup.com, or follow us on LinkedIn or Twitter.