Signature Services
Delegated Global
Benefit Management
Alta personnel are qualified to assume any and all technical tasks to implement global benefit governance initiatives at HQ level. Delegating to Alta allows corporate HR and benefit staff to concentrate on more strategic, value-added activities.
Alta provides a range of centralized technical services that can be included in a customized package and designed to meet the intricate needs of each client. Our services include:
Global Benefit
Optimization
Alta is an independent consulting firm, ideally positioned to assist our clients in securing the best local vendors at each international location.
The traditional employee benefit risk management strategy, to negotiate global arrangements with global carriers, brokers and consultants, generally produces marginal savings in vendor fees, but is adversely affected by a number of structural barriers.
Alta's services can overcome this with:
Fully Integrated Captive Solution
Global companies face many challenges financing insured employee benefits outside the US. Fragmentation of staff counts over many countries leads to lack of leverage. Alta offers a fully integrated solution using a captive structure owned by the client with a full range of services from feasibility studies, to captive organization, to on-going management support.
Alta's FICS solution would include the following services:
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Organization of strategic foundation – development or update of the client’s global benefit governance model (plan design, financing and operations guiding principles)
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Development and periodic updates of global benefit inventories
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Technical reviews of benefit initiative proposals from the client’s subsidiary units
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Global pension coordination: Defined benefit plans reporting and disclosure under US GAAP or IFRS. DC plan reporting
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Global coordination of local brokers: Group policy renewal coordination. User satisfaction and performance review
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Stewardship of global benefit principles
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On-going management of multinational pools
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Brokerage of globally mobile staff benefit insurance
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Benefit plan cost assessments and budget projections
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Advisory services and coordination support for M&A projects
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Assistance with selection and evaluation of global benefit vendors (carriers, actuaries, brokers and consultants), including support in development of RFP, scorecard for evaluation, coordination of tender process, bid review, and contract negotiation assistance
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Setup of project management office for implementation – local RFP’s, assistance with transition of incoming carriers, brokers and consultants
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On-going global coordination of the deliverables provided by the selected local vendors (e.g., policy renewals, actuarial valuation reports)
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Consolidated reporting under a common format agreed with our clients
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Periodic surveys of client satisfaction and vendor performance
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Annual meeting for review and planning
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Initial discovery and captive feasibility study
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Initial implementation including a menu of services to address company-specific circumstances
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Captive management services
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Fronting carrier coordination
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Global broker/TPA and benefit consulting on the ground in the countries involved
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On-going assistance for policy renewals, and continued fitness for captive financing
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Underwriting and actuarial services for pricing and reserving from Alta actuaries
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Annual reinsurance recalibration advice