Wells Fargo Insurance Introduces Employee Benefits Actuarial Services; Names Nick Allen Practice Head

Company adds Actuarial Services to help employers mitigate healthcare cost risk

Business Wire

RICHMOND, Va.--(BUSINESS WIRE)--

Committed to helping employers manage rising healthcare costs, Wells Fargo Insurance, part of Wells Fargo & Company (WFC), announced today a new Actuarial Services Practice. Part of the company’s Employee Benefits National Practice, the group provides customers with tools and consultation on medical plan designs, healthcare reform, private exchanges and renewal pricing. Nick Allen, 10-year industry veteran and FSA, MAAA, has been named head of the practice. Based in Richmond, Va., Allen reports to Tim Prichard, head of Wells Fargo Insurance’s Employee Benefits National Practice.

"Managing healthcare costs remains a top concern for many employers and this new practice will help them better understand and manage the risks associated with their healthcare plans," said Prichard. “Being part of a financial services company, combined with Nick’s expertise and experience, provides our customers with a unique understanding of their healthcare plans and how they impact their company’s financial health.”

Allen was recently consulting actuary at Bryan, Pendleton, Swats & McAllister, LLC (BPS&M), a Wells Fargo company, responsible for health and welfare plan consulting. He also served as Pricing Actuary at Aetna Inc. and senior manager at Cigna Corporation. Allen graduated from Virginia Tech with a bachelor’s in Mathematics, is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries.

Wells Fargo Insurance’s Employee Benefits National Practice helps customers with financial underwriting and insurance, health and productivity risk management, benefits communication and administration, and compliance with healthcare reform.

About Wells Fargo Insurance

Recently named North America’s Best Insurance Broker by Global Finance Magazine1, Wells Fargo Insurance provides solutions for a wide range of customers, including retail consumers, high net worth individuals, small businesses, as well as middle market and large corporate customers. Wells Fargo Insurance writes or places $15 billion of risk premiums annually in property, casualty, benefits, international, personal lines, and life products and also includes the nation’s largest crop insurance provider, Rural Community Insurance Services (RCIS).

About Wells Fargo & Company

Wells Fargo & Company (WFC) is a nationwide, diversified, community-based financial services company with $1.5 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, 12,000 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With more than 264,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2013 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at blogs.wellsfargo.com.

1Ranking includes Wells Fargo Insurance Services USA, Inc., Wells Fargo Insurance Services of West Virginia, Inc., Wells Fargo Insurance, Inc., and Rural Community Insurance Company

Contact:
Wells Fargo Insurance
Kathryn Ellis, 415-222-3767
Kathryn.d.ellis@wellsfargo.com

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