I. The History of Kwasha-Lipton (Pricewaterhouse-Coopers)
Two actuaries created Kwasha Lipton in 1944 one was named Kwasha and the other Lipton who assisted companies with their pensions. The firm recently advised Fortune 500 firms such as Bell Atlantic, RJR Nabisco and Bank of America on everything from pensions and 401(k) retirement plans to medical insurance, and it administers the plans. More large companies are moving toward outsourcing their (benefits) plans, allowing their (human resources) departments to focus on important issues like hiring workers, company organization and employee relations. Kwasha-Lipton’s annual revenue was more than $250 million at the time. In 1997 Kwasha-Lipton merged with the H/R dept of Coopers and Lybrant to form the Coopers-Kwasha combination which was among the top benefits firms in the country. In 1998 however Coopers and Lybrant merged with Pricewaterhouse forming Pricewaterhouse-Coopers. These two mergers have created one of the most experienced benefits consulting firms in the world.
Pricewaterhouse-Coopers is an international company, which operates, internationally in over one hundred and fifty locations worldwide and continues to grow at an impressive rate. Chances are no matter where in the world you are they are just around the corner.
Kwasha-Lipton has come a long way from where they were. They are now part of one of the most successful corporations in the world. This is as a result of merging with Coopers and Lybrant and thusly they merged with Pricewaterhouse.
II. Major Functions of Pricewaterhouse-Coopers
a.What is the Nature of Their Business
Pricewaterhouse-Coopers offers a full range of advisory services to global, national, and local businesses, corporations and institutions. These services include, but are not limited to audit, accounting and tax advice. IT as well as HR consulting, as well as financial advisory services which include mergers & acquisitions, business recovery, project financing and litigation support. In addition the also feature business processing outsourcing services and legal support through their network of law firms which specialize in over 22 different industries.
b. What Are They a Carrier, a Broker, or a Consultant
The answer quit simply is that they are one of the worlds largest financial consulting companies in the world.
c. What is Their Involvement in the Insurance Industry Today
Their retirement, health, casualty and life benefit/insurance consultants help you design and administer benefit plans and insurance arrangements to reduce risk and cost, increase benefit values and comply with regulatory standards. By leveraging their industry experience and deep technical knowledge, they assist their clients in designing and monitoring benefits plans that support overall HR policies and strategies.
III. Career Paths at Pricewaterhouse-Coopers
With a consulting and solutions oriented practice, Global HR Solutions (GHRS) offers an integrated array of human resource and insurance management services. They target top-ranked national and global companies within five distinct sectors:
Actuarial Benefits and Insurance (ABI)
ABI works closely with their clients to design and administer their company benefit and insurance plans. Their goal is to reduce client risks and costs as well as increase benefit values all the while complying with regulatory standards. To do this, they leverage their expertise and technical knowledge gained in the retirement, health, and insurance industry markets. They have expanded these capabilities across international boundaries to establish ABI as a global service capable of helping their clients everywhere do business.
Human Resources/Benefits Outsourcing (HRO)
HRO administers human resources data, management information and employee work-life issues better and less expensively than employers can. Their human resources and benefits consulting competencies, as well as our technical and customer service capabilities have made us the outsourcing service of choice among leading companies. Their aim is to align our data stream to human-resources-consulting templates and methodologies to form a true knowledge management service.
Ultimately, it’s about the power of knowledge they believe their ability to shape it as well as share it with their clients. They seek the best minds to carry on a tradition of thought leadership unsurpassed in the professional services industry. That’s why they create a learning contract between you and Pricewaterhouse-Coopers a joint commitment to your professional development. At every stage of your career, they’ll clearly define the competencies you’ll need for success, and provide you with leading edge training programs to develop and master them.
They have undergraduate (entry-level) opportunities in each of the following Service Lines:
§Audit, Assurance and Business Advisory Service