Actuarial consultant Amy A. Kim is an expert in identifying, measuring, and quantifying risk. Recently she demonstrated an extraordinary gift for taking risk. Leaving behind a steady job where she handled actuarial duties for some of the largest companies in the world, she launched Beneprise Employee Benefit Solutions, a full service employee benefits consulting firm in Philadelphia.
The freedom to serve clients in the most cost-effective way regardless of profit motivation led Ms. Kim and Beneprise co-founder Bill Alex to make the move from their previous employer. “It was a great place to cut our teeth, and it allowed us to gain expertise with sophisticated technologies and systems used to serve Fortune 100 companies,” explains Kim. “But the pressure is always on to pay for large overhead costs and satisfy stockholders. The needs of small to mid-size companies can best be addressed by a smaller, more agile consulting firm that can provide very personalized solutions without the overhead or multiple management layers of a larger firm.”
With resurgence in the middle markets, Kim and Alex’s timing couldn’t be better. “Growth among mid-size businesses is a welcome sign, but HR and Finance managers and business owners who aren’t sure this is yet the time to hire are under pressure,” explains Kim. “Having downsized in order to survive over the past few years, they’re already asking their remaining staff to work harder and longer. Experienced employees who feel overworked and undervalued are tempted to look for greener pastures. Excellent benefit packages improve retention rates but costs can put desirable benefits out of reach.”
Finding creative ways to lower costs is a Beneprise hallmark. For Kim and Alex, out-of-the-box thinking can result in significant savings for clients. Considered a boutique firm, Beneprise delivers the best value to businesses ranging in size from 200 to 5,000 employees because it gives small to mid-size companies the same attention other consulting firms reserve only for their largest clients. “If we can’t find savings, we tell our clients up front,” says Kim.
Recently, a manager of a mid-size company called on Beneprise to help reduce healthcare costs. The solution involved obtaining tax-exempt status, a difficult feat for a smaller group. “The standard way of doing calculations would never get them there,” says Kim. “We found a way and now the company is saving thousands. And the manager, who is now CFO of the company, is a hero to the administration and his co-workers alike.”
Employee Benefit Solutions, LLC
866-364-7049 • 484-883-2855
Amy A. Kim, Managing Partner, Beneprise Employee Benefit Solutions, graduated from Penn State University. She is an Associate of the Society of Actuaries (ASA) designee and a member of the American Academy of Actuaries.
Amy also authors Chick Clique Philly (www.chickcliquephilly.com), a social networking site for women in the Greater Philadelphia area.