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Milliman Incorporation is an international actuarial and consulting organization based in the United States. The organization was established in 1947 by the diligent work of Wendell Milliman and Stuart A. Robertson at 914, Second Avenue, Seattle, Washington D.C. in the United States. The association offers an extensive range of professional consulting services for various types of Benefits and insurance services for example, healthcare, financial services, investment, employee benefits, life insurance, and property and casualty insurance.
The First Health Insurance cost benchmarking tool of the Milliman Incorporation was launched in 1950s which became the most respected pricing tool in those days. The consultants employed by the Milliman Incorporation developed new designs for employee benefit plans and annuities during 1960s that further helped in the construction of the first health maintenance organizations (HMOs) across the nation.
The organization started providing its services in the international market during 1990s, by establishing an office in Tokyo. Milliman Incorporation helps to apply various mathematical and statistical methods to assess risk in various industrial fields for example, insurance, finance and many others. Privately held organizations, financial institutions, trades unions, educational institutions, government organizations, and non-profit organizations are the various organizations included in the client list of the Milliman Incorporation. Retirement funding, risk management, regulatory compliance, health-care financing, data analytics and business transformation are the various issues included in the business areas of the Milliman Incorporation.
Milliman Incorporation is engaged in developing various innovative tools and products to protect the public interest by promoting competency and ethical standards. The organization additionally operates more than 54 branch offices around the world to provide expert actuarial solutions. It Likewise has employed more than 1,300 consultants, actuaries and customer support executives to provide a comprehensive range of quality products and highest level of customer service.
As per the records of 2010, Milliman Incorporation had a Revenue of more than 676 million U.S. Dollar's. The organization is owned and operated by approximately 350 principals who are selected by their professional, technical, and business achievements. Various specialists, clinicians, economists and leading professionals are included in the administrative section of Milliman Incorporation. The organization is being operated by its headquarters located in Seattle, Washington D.C. in the United States.