7 March 2023Analysis

SRS buys into medical stop-loss claims administrator

Strategic Risk Solutions has acquired a majority interest in Alpha Isles Services LLC, a specialist medical stop-loss claims administrator. Alpha provides outsourced claims administration services to medical stop-loss MGUs as well as claims review and audit services to insurance companies.

Founded in 2021, it is headquartered in Massachusetts. Two of the three co-founders, Robyn Eagan and Nina Carrico, will continue as vice presidents of the company.

“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 SRS president and CEO Brady Young.

“This is a great opportunity to bring these services to our clients and partners and continue to grow AIS.”

“We are grateful for the opportunity we have had to start AIS and work with Anne Trupiano to successfully establish the company,” said Eagan. “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.”