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Brokerage Services for CBIZ Employee Services Organization
17.
Describe your underwriting and actuarial resources.
At the corporate level CBIZ employs numerous actuaries and underwriters. This team is headed by Dave
Rubadue, FSA, MAAA, CLU whose bio sketch is included in question 6.
In Atlanta the PIKE team is supported by two underwriters, Ron Deterding and Joe Shorter (See bio sketch
shown in question #6) and one consulting acutuary Howard Hyman (See bio sketch shown in question #6).
18.
Describe your experience supporting clients with mergers and acquisitions, including the duediligence
process and integrating the acquired company’s benefits plans with the client’s benefit plans,
communications to employees, etc.
The Atlanta CBIZ team has had considerable experience in this area. We have performed due diligence
valuations and integration processes for both large Fortune 500 companies as well as mid market employers.
The complete process consists of:
a)
Due Diligence
i.
Receipt of all target company’s policies, contracts, rate/fee history, plan design and change
history, claims experience and premium history, enrollment by plan-by-tier-by month for the
last 24 months, IBNR Reserve calculations for the last 2 years
ii.
A full compliance audit
iii.
A review of any pending litigation
iv.
Full report to the acquiring company of current target company’s costs, liabilities, strengths,
challenges and a one to three year proforma
b)
Synergy Savings
i.
Presentation of the most effective plan for integration to meet the acquiring company’s target
synergy savings
ii.
Quantifying the results of their plan’s implementation
iii.
Reviewing the plan with acquiring company’s CFO and HR to determine any potential downside
from a recruitment and personnel retention stand point
c)
Communication and Enrollment
i.
Developing a clear, concise message to be communicated to both the target company and
acquiring company’s employees
ii.
Production of a video that highlights the positives attendant to the merger, changes in benefits
and costs if any, new systems and programs improving the employee experience, etc.
iii.
Developing an enrollment strategy that would include both a web based enrollment platform
and a call center to assist the newly acquired employees