Milliman
| Company type | Private |
|---|---|
| Industry | Actuarial and consulting services |
| Founded | 1947 |
| Founder | Wendell Milliman, Stuart A. Robertson |
| Headquarters | Seattle , United States |
Area served | Worldwide |
| Products | Consulting on employee benefits, healthcare, investment, life insurance, financial services, property and casualty insurance; data analytics; predictive analytics |
| Owner | Approximately 350 principals |
Number of employees | 3000+ |
Milliman, originally known as Milliman & Robertson, is a global firm specializing in actuarial and consulting services, with its main office located in Seattle, Washington.
Established in 1947 by Wendell Milliman and Stuart A. Robertson, the company maintains a presence through 59 offices worldwide and employs over 3,000 professionals. Ownership is held by roughly 350 principals. Milliman’s primary service areas include consulting related to employee benefits, healthcare, investment, life insurance, financial services, as well as property and casualty insurance. The firm also has expertise in data analytics and predictive analytics.
History
Actuary Wendell Milliman founded a consultancy in the late 1940s focused on business risk management and pension-related matters, soon partnering with Stuart A. Robertson to create Milliman & Robertson. Initially, the company specialized in actuarial consulting for retirement plans, covering areas such as compensation, healthcare, and outsourcing services.
In the 1950s, Milliman & Robertson introduced the first health insurance benchmarking tool in the United States. The firm expanded both its geographic footprint and service portfolio by adding new annuity products and employee benefit plans. Its international growth commenced in the 1990s with the establishment of an office in Tokyo, followed by further global offices and its inaugural insurance consulting project within the People's Republic of China.
Milliman indices
Milliman develops significant economic indicators for the US healthcare and insurance sectors, including the Milliman 100 Pension Funding Index, which evaluates the funding status of the largest 100 pension funds across the United States. Additionally, since 2001, it has published the annual Milliman Medical Index, which tracks total healthcare expenditures for a family of four covered by employer-sponsored insurance. Between 2002 and 2015, this index recorded a 267% rise in healthcare costs for such families.
Milliman care guidelines
MCG (Milliman Care Guidelines), a provider of evidence-based clinical protocols for healthcare institutions since 1990, was formerly owned by Milliman. In 2012, Hearst Corporation acquired MCG, representing a strategic exit from Milliman’s clinical guideline operations.