With the addition of 1,500 new clients and nearly doubling its employee base,
the Virginia division of Digital Benefit Advisors (DBA) (
) has rapidly expanded thanks to a unique value proposition and delivery platform that has stimulated growth through partnerships, combining business with other firms and endorsements.
This spring, DBA Virginia entered into a partnership with the Medical Society of Virginia
Insurance Agency (MSVIA) and integrated business from two other Richmond-based agencies. Additionally, the firm acquired two new endorsements that provide significant future growth potential.
“DBA’s unique capabilities and powerful business model offer distinct advantages during an era of change for the employee benefits industry,” says Tim O’Shea, managing principal of DBA Virginia, part of a national network of experienced, local market experts. Since early 2011, the group has nearly doubled annual revenue, increased from 30 to 55 employees and added about 1,500 new employer client relationships.
Digital Benefit Advisors also has renewed and created a long-term agreement with Dominion Analytics, the Richmond firm that developed patented, decision-support models for use in the health insurance and benefits evaluation process. This agreement gives exclusive access to DBA nationally for use of these tools. DBA Virginia supports several Digital offices and clients across the country using these models, further fueling local growth.
“We have the expertise and resources to help employers navigate health care reform, plus the flexibility to offer partnership arrangements to other benefits and insurance firms,” adds O’Shea. “These dynamics are resulting in opportunities for our firm to grow strategically as we address emerging market needs.”
This summer the Richmond office will move to Deep Run III in Henrico County near its current headquarters in Glen Allen, Va., to consolidate local operations and provide space for continued expansion. DBA Virginia will continue to serve clients from its current offices in Charlottesville and Roanoke.