Lockton Companies is the world’s largest privately held insurance brokerage firm, offering a comprehensive range of insurance, risk management, and employee benefits consulting services. Headquartered in Kansas City, Missouri, Lockton serves clients across the globe, providing tailored solutions to meet the unique needs of businesses and individuals. With a commitment to exceptional service, innovation, and integrity, Lockton helps clients manage risks, protect assets, and enhance employee benefits.

Services and Solutions

Lockton provides a comprehensive suite of insurance products and services designed to address the diverse needs of its clients. Key service areas include:

1. Insurance Brokerage: Lockton offers a wide range of insurance brokerage services, including commercial property and casualty, personal lines, and specialty insurance. The company works with clients to identify the best coverage options and secure competitive rates.
2. Risk Management: The company provides extensive risk management services, including risk assessment, loss control, and claims management. These services help clients identify, evaluate, and mitigate risks to improve their overall risk profile and reduce potential losses.
3. Employee Benefits Consulting: Lockton offers comprehensive employee benefits consulting services, including health and wellness programs, retirement plans, and voluntary benefits. These solutions help employers attract and retain top talent while managing costs effectively.
4. Retirement Services: The company provides retirement planning solutions, including defined benefit plans, defined contribution plans, and retirement advisory services. Lockton’s retirement services are designed to help clients plan for a secure and comfortable retirement.
5. Global Benefits: Lockton delivers global benefits consulting and brokerage services to multinational companies, helping them manage employee benefits programs across multiple countries and ensuring compliance with local regulations.

Actuarial Opportunities

Lockton offers a range of opportunities for actuaries, particularly within its insurance brokerage, risk management, and employee benefits consulting divisions. Actuaries at Lockton play a critical role in product pricing, risk assessment, and financial forecasting. Key areas where actuaries contribute include:

• Product Pricing: Developing and implementing pricing strategies for various insurance and benefits products to ensure competitiveness and financial sustainability.
• Risk Management: Analyzing and managing the risks associated with insurance products and employee benefits programs to maintain the company's financial strength and stability.
• Data Analysis: Utilizing advanced data analytics to predict trends, improve decision-making, and enhance product offerings.
• Financial Forecasting: Creating financial models to project future costs, revenues, and profitability for insurance and benefits products.
• Regulatory Compliance: Ensuring that insurance and benefits products comply with state and federal regulations.

Employee Benefits and Compensation

Lockton is committed to attracting and retaining top actuarial talent by offering competitive compensation and a comprehensive benefits package. Key benefits include:

• Health and Wellness: Lockton provides comprehensive health insurance plans, including medical, dental, and vision coverage. The company also offers wellness programs and resources to support employee health and well-being.
• Retirement and Savings: Employees have access to retirement savings plans, including a 401(k) plan with company match, to help secure their financial future.
• Work-Life Balance: Lockton supports flexible work arrangements, including remote work options and flexible scheduling, to help employees achieve a healthy work-life balance.
• Professional Development: The company invests in employee growth through various learning and development programs, including tuition assistance, leadership training, and career advancement opportunities.
• Paid Time Off: Generous paid time off policies, including vacation, holidays, and personal leave, are provided to ensure employees can recharge and maintain a healthy work-life balance.

Business Divisions

Lockton operates through several key business divisions, each specializing in different areas of insurance and risk management:

• Insurance Brokerage: Focuses on providing comprehensive insurance brokerage services, including commercial property and casualty, personal lines, and specialty insurance.
• Risk Management: Offers extensive risk management services, including risk assessment, loss control, and claims management.
• Employee Benefits Consulting: Provides comprehensive employee benefits consulting services, including health and wellness programs, retirement plans, and voluntary benefits.
• Retirement Services: Delivers retirement planning solutions, including defined benefit plans, defined contribution plans, and retirement advisory services.
• Global Benefits: Offers global benefits consulting and brokerage services to multinational companies, helping them manage employee benefits programs across multiple countries.

Summary

Lockton Companies is a global leader in providing innovative insurance, risk management, and employee benefits solutions, dedicated to helping clients manage risks and achieve financial security. With a strong presence in the United States and worldwide, Lockton offers comprehensive insurance products and a supportive work environment, making it an attractive employer for actuaries and other insurance professionals. Actuarial professionals looking for opportunities at Lockton can expect to find a dynamic workplace that values innovation, professional development, and employee well-being.

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