Spring Consulting Group LLC

What Spring Consulting Group LLC does

Spring Consulting Group LLC is a Boston-based, privately held insurance and risk-management consultancy founded in 2004 and operating as a subsidiary of Alera Group since 2023. The firm delivers strategic consulting and actuarial services to employers, captive insurance owners, and insurance/financial institutions across the risk-management continuum, including Property & Casualty, Employee Benefits, Absence Management, and Actuarial Services (health, welfare, retirement, and P&C).

Service offerings are organized around seven core areas: Absence Management (PFML compliance, FMLA), Actuarial Services, Alternative Risk Financing & Captives (including pension risk transfer), Employee & Retiree Benefits, Employee Benefits Actuarial Services, Property & Casualty Risk Consulting, and Surveys/Benchmarking & Research. The firm operates through two majority-owned subsidiaries — Spring Insurance Group, LLC and Spring Wealth Strategies, LLC — which extend the service surface into insurance distribution and wealth advisory respectively.

Spring generates revenue through professional services fees — primarily consulting and actuarial engagements sold via direct, consultative B2B sales to enterprise employers, captive owners, insurance carriers, and government agencies. Notable client engagements include actuarial studies for the State of Maine's Paid Family & Medical Leave program and implementation support for the Maryland Department of Labor's PFML program. The firm maintains thought-leadership distribution through its website blog, email newsletter, webinars, and speaking presence at industry events including CICA, DMEC, CTICA, and NEHRA conferences, and is led by co-founder and managing partner Karin Landry and SVP Prabal Lakhanpal, who serves on the board of the Captive Insurance Companies Association (CICA).

Name

Spring Consulting Group LLC

Legal name

Spring Consulting Group, LLC

Website

https://springgroup.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Spring Consulting Group is a Boston-based employee benefits and risk-management consultancy (founded 2004, Alera Group subsidiary) delivering strategic consulting and actuarial services to employers, captive owners, insurers, and state agencies across absence management, alternative risk financing and captives, and PFML program support.

Ownership category

akta.pro rank

Product category

Insurance & Risk Management Consulting

NAICS

Administrative Management and General Management Consulting Services (541611), Other Management Consulting Services (541618), Human Resources Consulting Services (541612)

SIC

Insurance Agents, Brokers & Service (6411), Services-Management Consulting Services (8742)

akta.pro primary industry

Risk Management Consulting (Enterprise & Operational Risk) (FSAEADAG)

akta.pro secondary industries

Captive Insurance Advisory & Management (FSAEADAF), Employee Benefits Brokerage & Consulting (FSAEADAC), Risk, Compliance & Internal Controls Consulting (BPAHACAJ)

Keywords

• Employee benefits consulting
• Actuarial services
• Risk management consulting
• Captive insurance advisory
• Absence management consulting

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Strategic Consulting Services: Provides strategic consulting services to employers on employee benefits, risk management, and alternative risk financing strategies including captive insurance arrangements. Revenue is generated through consulting fees for advisory services, actuarial studies, and ongoing strategic counsel.
2. Actuarial Services: Provides certified actuarial services across health, welfare, retirement and property & casualty for employers. Actuarial consulting fees represent a key revenue stream.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Spring Consulting Group is a multidisciplinary employee benefits and risk management consultancy that delivers strategic consulting, certified actuarial services, alternative risk financing (including captive insurance), and absence management guidance to employers, captive owners, insurance companies, and state government agencies. Services span the risk management continuum across Property and Casualty, Employee Benefits, Absence Management, and Actuarial Services.

Product overview

Spring Consulting Group is a multidisciplinary employee benefits and risk management consultancy offering a comprehensive suite of consulting services organized around core offerings: Absence Management, Actuarial Services, Alternative Risk Financing & Captives, Employee & Retiree Benefits, Employee Benefits Actuarial Services, Property & Casualty Risk Consulting, and Surveys/Benchmarking & Research. The firm also operates through its Spring Insurance Group subsidiary. Services span the full risk management continuum from strategic consulting to technical actuarial analysis, with specialized focus on captive insurance solutions, absence management, and employee benefits optimization. The company operates as part of the Alera Group network.

Differentiator

Problem solved

Functional benefit

Products and services

• Absence Management Strategic consulting and compliance guidance to help employers navigate the evolving employee leave landscape, including FMLA, state paid family and medical leave (PFML) programs, paid sick leave, and related leave regulations.
• Actuarial Services Certified actuarial services across health, welfare, retirement, and property & casualty lines, providing risk quantification and management support for employers.
• Alternative Risk Financing & Captives Advisory on alternative risk funding strategies including captive insurance arrangements and other non-traditional structures designed to give employers more control over insurance programs and reduce costs.
• Employee & Retiree Benefits Strategic consulting on employee benefit programs including health insurance, retirement benefits, and wellness initiatives for active and retired populations.
• Employee Benefits Actuarial Services Specialized actuarial analysis and financial modeling for health and welfare benefit programs and retirement plans, supporting plan design, funding, and valuation decisions.
• Property & Casualty Risk Consulting Risk management consulting on property and casualty exposures, including the design of captive and alternative structures to manage those exposures.
• Spring Insurance Group Majority-owned subsidiary of Spring Consulting Group offering insurance-related services and products in support of the firm's risk financing and captive insurance clients.
• Surveys, Benchmarking & Research Industry research and benchmarking studies that help employers compare their benefits and risk programs against market standards and identify best practices.
• Paid Family and Medical Leave Landscape Analysis and consulting on state-by-state paid family and medical leave (PFML) programs, helping employers understand coverage, funding, and compliance obligations across jurisdictions.
• Paid Sick Leave Landscape Guidance on paid sick leave regulations and employer compliance across different jurisdictions.

Quantifiable outcome

• Captive strategies can reduce cost, preserve control, and align financial outcomes more closely with long-term objectives compared to traditional insurance transactions
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• State of MainecoreImplementation/ SI/ Consulting Partner · 16 June 2025Spring Consulting Group is contracted with the State of Maine to conduct actuarial studies of the Maine Paid Family & Medical Leave program. This is a significant government engagement demonstrating the firm's actuarial expertise.
• Alera GroupcoreOthersAlera Group is the parent company of Spring Consulting Group. The company tagline references 'An Alera Group Company'. Spring operates as part of the Alera Group portfolio of companies, which provides employee benefits and risk management services.
• Captive Insurance Companies Association (CICA)coreStrategic or Co-development PartnerPrabal Lakhanpal serves as Board of Director at CICA, the only domicile neutral captive insurance association. This leadership position demonstrates deep industry involvement and strategic alignment with the captive insurance industry.
• Connecticut Captive Insurance Association (CTICA)minorStrategic or Co-development PartnerKarin Landry presented at CTICA's webinar titled 'How to Level Up Your Medical Stop-Loss Program', demonstrating thought leadership in the captive insurance community.
• Disability Management Employer Coalition (DMEC)minorStrategic or Co-development PartnerKaren Trumbull English is a board member of DMEC. The firm regularly presents at DMEC conferences and contributes to industry education on absence management and compliance.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Mercer: Health, wealth, and career consulting subsidiary of Marsh McLennan with deep US employee benefits and actuarial practice. Closest large-incumbent peer for Spring's benefits, absence management, and HR consulting work.
• Willis Towers Watson: Global advisory firm with large practices in risk and insurance brokerage, employee benefits consulting, and actuarial services. Competes with Spring for mid-to-large employer benefits and risk mandates, with deeper product breadth.
• Lockton: Largest privately held insurance brokerage in the US, with strong employee benefits, P&C, and captive practice. Comparable specialty-broker DNA to Spring, but with national scale and broader product portfolio.
• Aon: Global professional services firm offering risk management, insurance brokerage, and HR/benefits consulting (including through NFP, which it acquired). Overlaps with Spring on employee benefits, actuarial, and captive advisory, but at much greater scale and geographic reach.
• Marsh McLennan: Global insurance brokerage and risk management conglomerate offering employee benefits, risk consulting, and actuarial services across Marsh, Mercer, and Oliver Wyman brands. Directly competes for the same employer RFPs Spring pursues, but at vastly larger scale.

Direct peers

• Segal Group: Independent US consulting firm focused on employee benefits, retirement, and actuarial services for public- and private-sector employers. Closely comparable in scope and client type to Spring's benefits and actuarial practice.
• Milliman: Independent actuarial and consulting firm with deep practices in health, welfare, retirement, and P&C — directly overlapping Spring's award-winning actuarial service line and serving similar employer and insurer clients.
• Strategic Risk Solutions (SRS): Independent captive insurance management and consulting firm with domicile-neutral capabilities. Closest direct peer to Spring's captive advisory practice and overlapping with its CICA-aligned leadership network.
• Captive Resources: Specialty captive management and consulting firm focused on group and single-parent captives. Direct peer in the niche Spring targets, competing on alternative risk financing engagements with employers.
• Buck (a Conduent company): Actuarial, benefits, and HR consulting firm serving mid-to-large employers. Directly comparable to Spring in offering actuarial, employee benefits, and absence/leave consulting with similar target clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/spring-consulting-group-llc
• Xx.com/springsinsight

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spring Consulting Group LLC