Actuarial Sevices RFP # 21002

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 Submittal Deadline 03/24/21, 5:00 PM, via email to (mark.valim@insurance.ca.gov)
**Final Date for Proposal Submission 04/14/21, 4:00