Alterity, a leading benefit and insurance advisory firm specializing in private equity transactions, was engaged by the private equity arm of a large pension fund with more than $210B of assets under management to conduct a U.S. health and welfare consultant RFP for a portfolio company in the shipping and logistics industry.

Originally retained by the pension fund to provide strategic oversight services for the health and welfare spend of the portfolio company, Alterity identified that the premium equivalency rates set by the incumbent consultant were more than 20% under budget (~$1.8M). After conferring with the client and incumbent consultant, Alterity conducted a full and thorough RFP process to place the company with the appropriate partner going forward. After approaching six consulting firms in the market, four firms were chosen to participate in finalist meetings, based on the scoring of the RFP responses by Alterity. Each finalist was granted a two and a half hour meeting, with the agenda provided by Alterity.

Ultimately, the client was placed with a new vendor / partner and has greatly benefited from the relationship. Not only is the client receiving sound actuarial and strategic advice, but the company is also benefiting financially from the new contractual terms of the agreement. Anticipating growth in headcount over the next three years, the client wanted to move away from a per employee per month fee schedule to a fixed fee basis. Alterity was able to negotiate a fixed-fee contract for less than what the incumbent was receiving previously.

About Alterity: The Alterity Group is a leading independent consulting firm offering advisory services designed to meet the unique needs of private equity firms and employers. The firm has relationships with 65% of the top 20 largest private equity firms across the U.S. and Canada. Alterity operates as an extension of deal, operations and procurement teams to help navigate the constantly evolving landscape of employee benefits and insurance to maximize value across portfolios. Alterity is headquartered in New York with offices in Austin, Toronto, and London.