RFP # 21002-3-Actuarial Services

expired opportunity(Expired)
From: California(State)
0000020080

Basic Details

started - 12 Jul, 2021 (about 2 years ago)

Start Date

12 Jul, 2021 (about 2 years ago)
due - 13 Aug, 2021 (about 2 years ago)

Due Date

13 Aug, 2021 (about 2 years ago)
Bid Notification

Type

Bid Notification
0000020080

Identifier

0000020080
Department of Insurance

Customer / Agency

Department of Insurance
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The Rate Regulation Branch (RRB) reviews rate and rule filings for multiple lines of insurance to assure that they comply with California requirements. The RRB analyzes proposed rates to ensure that they are not excessive, inadequate, or unfairly discriminatory. Insurers are making increasingly greater use of predictive modeling in the development of their rating plans for homeowners, residential property, and commercial insurance coverage. These filings will require specialized actuarial expertise for a thorough review of the property/casualty rates and rules based on predictive models.  The type of actuarial model(s) reviewed may include, but are not limited to, various Segmentation Models (including Territorial and Tiering), Generalized Linear Models, Decision Trees, Ensemble Methods, Random Forests, Cluster Techniques, Scoring, Fire Following Earthquake, Earthquake, and Brush Hazard/ Wildfire.  More detail on the types of models and the required breadth of review can be found
under C) Proposal Requirements and Information, 4) Cost Detail Format and Requirement. CDI anticipates a maximum budget of $200,000.00 for the completion of items (1) through (10) for all model(s) assigned within the contract.

*Written Question & Notice of Intent to Bid Submittal Deadline: 07/16/21  by 5:00 PM,
via email to christian.tonkin@insurance.ca.gov

**Final Date for Proposal Submission: 08/06/21 by 4:00 PM, Now Extended to 08/13/21.

***Addendum 1/Attachment 2 extends the Written Question & Notice of Intent to Bid Submittal Deadline: 07/30/21  by 5:00 PM, via email to christian.tonkin@insurance.ca.gov

****Questions and Answers/Attachment 3 was posted 07/27/21.

*****Addendum 2/Attachment 4 extends the Final Date of Proposal Submission to 08/13/21 by 4:00 PM & extends other key action dates.

*****2nd Questions and Answers/Attachment 5 was posted 08/03/21.

Sacramento, CaliforniaLocation

Address: Sacramento, California

Country : United StatesState : California

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