Bevel Alpha--AE

This effect gives a chiseled and lighted appearance to the alpha boundaries of an image, often giving two-dimensional elements a three-dimensional appearance. (If the clip has no alpha channel or its alpha channel is completely opaque, the effect is applied to the edges of the clip.) The edge created in this effect is somewhat softer than that of the Bevel Edges effect. This effect works especially well with text containing an alpha channel.

Applying Effects > Video effects included with Premiere > Bevel Alpha--AE