Concord, MA, March 6, 2023 – Strategic Risk Solutions (“SRS”; “the Company”), the world’s largest independent insurance company manager, today announced that it has acquired a majority interest in Alpha Isle Services (“AIS”), a specialist medical stop loss claims administrator.
AIS provides outsourced claims administration services to medical stop loss MGUs as well as claims review and audit services to insurance companies.
“We have been impressed by the level of services provided by AIS and the best practices they bring to the operation of a medical stop loss claims department,” said Brady Young, President and CEO, Strategic Risk Solutions. “This is a great opportunity to bring these services to our clients and partners and continue to grow AIS. The expansion of our services into claims administration in the medical stop loss space is consistent with the selective addition of services complementary to our captive management business.”
AIS was founded in 2021 by Anne Trupiano, Robyn Eagan, and Nina Carrico. The company is headquartered in Massachusetts and operates nationwide. Following the acquisition, Ms. Eagan and Ms. Carico will continue as Vice Presidents of the company with Ms. Trupiano withdrawing from the business.
“We are grateful for the opportunity we have had to start AIS and work with Anne Trupiano to successfully establish the company. We are also excited to build out our vision for a best-in-class claims administration company with the support of SRS. Their reputation within the alternative market and relationships with brokers, employers, insurance companies and other service providers provides an ideal platform for us to deliver and enhance our services”, said Ms. Eagan.
About Strategic Risk Solutions (SRS)
SRS is the world’s largest independent insurance company manager. With over 25 years of experience, SRS provides management and consulting services to a wide range of insurance company entities, from single parent captives to complex commercial insurers and reinsurers. SRS has operations in the United States, Canada, Europe, Barbados, Bermuda, Cayman Islands, and South Africa. For more information on SRS, please visit www.strategicrisks.com.
Sandra St. Onge