1-RFP 720-2518 - Actuarial Services.docx

REQUEST FOR PROPOSALS

RFP No. 720-2518

Actuarial Services

Submittal Deadline: Wednesday, October 1, 2025, at 2:30 p.m. CDT

The University of Texas System Office of Risk Management

Prepared by:

Vanessa Aguilar The University of Texas System 210 West 7th Street Austin, Texas 78701-2982 vaguilar@Universityystem.edu

Issued: August 25, 2025

RFP 720-2518 – ACTUARIAL SERVICES

REQUEST FOR PROPOSALS

TABLE OF CONTENTS

SECTION 1: INTRODUCTION…………………………………………………………………………...2

SECTION 2: NOTICE TO PROPOSER…………………………………………………………………5

SECTION 3: SUBMISSION OF PROPOSAL………………………………………………………….9

SECTION 4: TERMS AND CONDITIONS……………………………………………………………...11

SECTION 5: SPECIFICATIONS AND ADDITIONAL QUESTIONS………………………………...12

SECTION 6: PRICING AND DELIVERY SCHEDULE………………………………………………...17

Attachments:

APPENDIX ONE: PROPOSAL REQUIREMENTS

APPENDIX TWO: AGREEMENT

APPENDIX THREE: ACCESS BY INDIVIDUALS WITH DISABILITIES

SECTION 1

INTRODUCTION

1.1 Description of The University of Texas System

The University of Texas System has enhanced the lives of Texans and individuals worldwide through its commitment to education, research and health care for 140 years. With 14 institutions collectively enrolling over 255,000 students, the UT System stands as one of the largest public university systems in the United States. In September 2023, Stephen F. Austin State University officially became the eighth academic institution in the UT System.

The UT System has an operating budget of $29.1 billion for fiscal year 2024 and employs more than 116,000 faculty, health care professionals, support staff and student workers.

UT institutions annually produce over 66,000 graduates and award more than one-third of the undergraduate degrees in Texas and award over 60% of the state's medical degrees. The combined efforts of UT-owned and affiliated hospitals and clinics resulted in over 10.7 million outpatient visits and more than 2 million hospital days last year. In July 2023, the UT Tyler School of Medicine became the seventh medical school in the UT System and the first in Northeast Texas.

With five UT institutions designated as a top-tier research university in the Carnegie Classification of Institutions of Higher Education, The UT System’s $3.8 billion research enterprise is one of the nation’s most innovative and ranks No. 1 in Texas and No. 2 in the nation for federal research expenditures. UT researchers are on the front lines of advancing treatments and therapies for deadly and debilitating diseases, devise solutions to global problems, address critically important social issues and improve the human condition in Texas and around the world.

UT institutions rank No. 3 in the United States and No. 4 worldwide for U.S. patents granted in 2022, the sixth consecutive year UT institutions earned a top-five global ranking for most patents granted from the National Academy of Inventors (NAI).

1.2 Background and Special Circumstances

The Office of Risk Management (ORM) at The University of Texas System (University) is responsible for the administration of the following insurance plans that are fully or partially self-funded:

Workers’ Compensation Insurance – Provides necessary and reasonable medical coverage and income benefit payments to University employees who sustain injuries or occupational diseases while in course and scope of employment. The Workers’ Compensation Insurance Plan also funds a Resource Allocation Program out of surplus in order to implement Risk Management initiatives. The Resource Allocation Program allocation methodology rewards UT institutions that experience fewer and less severe Workers’ Compensation Insurance claims.

Unemployment Compensation Insurance – Assists workers who become unemployed through no fault of their own. It provides temporary financial assistance to qualified individuals while they search for other work.

Directors & Officers/Employment Practices Liability and Cyber Liability Plan – Directors & Officers is a self-insurance plan that provides coverage to board members, employees, faculty, and other covered individuals, as well as each of the UT institutions for claims arising from actual or alleged wrongful acts performed by the Plan beneficiaries. The Plan also provides coverage for Employment Practices Liability claims, such as wrongful termination, failure to promote, and wrongful discipline. The Office of General Counsel (OGC) administers the plan and ORM is responsible for plan accounting. University also has a high retention for its cyber liability plan.

Comprehensive Property Protection Plan – Fire and All Other Perils Program – The Comprehensive Property Protection Plan – Fire and All Other Perils Program is a commercial insurance program with a high retention and quota share of an excess layer that insures the UT institutions against property claims, including fire and other perils. A funded reserve is in place to cover the retentions and quota share. Underlying Systemwide Inland Marine/Equipment and Fine Arts policies are purchased as the first layer of coverage.

Comprehensive Property Protection Plan – Wind and Flood – The Comprehensive Property Protection Plan – Named Windstorm and Resulting Flood Program is a commercial insurance program with a high retention and quota share of an excess layer that insures the UT institutions against direct physical loss and damage resulting from named-windstorm and/or storm surge flood. The retention and quota share are addressed using a combination of a funded reserve and the capacity to issue debt up to $50 million. Underlying National Flood Insurance Program (NFIP) and Texas Windstorm Insurance Association (TWIA) policies are purchased as the first layer of coverage.

Rolling Owner Controlled Insurance Program – Provides Workers’ Compensation, General Liability and Excess Liability insurance coverage for all enrolled contractors working on designated University construction projects. The benefits include lower insurance premiums due to bulk purchasing, consistency of insurance provided on each project, enhanced safety and loss control, and cost savings.

Automobile, Property & Liability Fund – The Automobile, Property & Liability Plan provides automobile liability and physical damage coverage for owned, leased, hired, and non-owned (liability only) vehicles, along with general liability coverage for certain scheduled exposures. All coverages are subject to a large retention with an aggregate stop loss deductible.

NOTICE TO PROSPECTIVE PROPOSERS: The 87th Texas Legislature has created a requirement under the Department of Information Resources (DIR) relating to any vendor who stores or maintains state/higher education data on cloud computing services. Effective 1/1/2022 any vendor/entity that contracts with and who uses cloud computing services must complete this TX-RAMP certification program through the State of Texas DIR. Be aware that by responding to this solicitation, if applicable, Proposers will be required to obtain additional certifications in order to contract for services. The TX-RAMP certification program is managed and operated by DIR. For more information about this certification program, including where to find the listing of those vendors already approved, please visit: https://dir.texas.gov/texas-risk-and-authorization-management-program-tx-ramp.

1.3 Objective of Request for Proposals

University is soliciting proposals from qualified vendors to perform work (Work) more specifically described in Section 5.4 (Scope of Work) of this Request for Proposals (RFP).

1.4 Group Purchase Authority

Texas law authorizes institutions of higher education (defined by §61.003, Education Code) to use the group purchasing procurement method (ref. §§51.9335, 73.115, and 74.008, Education Code). Additional Texas institutions of higher education may therefore elect to enter into a contract with the successful Proposer under this RFP. In particular, Proposer should note that The University of Texas System is comprised of fourteen (14) institutions described at http://www.utsystem.edu/institutions. UT institutions routinely evaluate whether a contract resulting from a procurement conducted by one of the institutions might be suitable for use by another, and if so, this RFP could give rise to additional purchase volumes. As a result, in submitting its proposal, Proposer should consider proposing a pricing model and other commercial terms that take into account the higher volumes and other expanded opportunities that could result from the eventual inclusion of other institutions in the purchase contemplated by this RFP. Any purchases made by other institutions based on this RFP will be the sole responsibility of those institutions.

SECTION 2

NOTICE TO PROPOSER

2.1 Submittal Deadline

University will accept proposals until 2:30 p.m. Central Daylight Time (CDT) on Wednesday, October 1, 2025 (Submittal Deadline).

NOTE: A public opening will not be held for this RFP.

2.2 RFP Contact Information and Questions

Interested parties must submit questions about this RFP through University’s Bonfire (EUNA Procurement) portal:

https://utsystem.bonfirehub.com/portal/?tab=openOpportunities

University instructs interested parties to restrict all contact and questions regarding this RFP to written communications delivered (i) in accordance with this Section on or before 5:00 p.m. CDT on Monday, September 15, 2025 (Question Deadline), or (ii) if questions relate to Historically Underutilized Businesses, in accordance with Section 2.5.

University will provide responses as soon as practicable following the Question Deadline. University intends to respond to all timely submitted questions. However, University reserves the right to decline to respond to any question.

2.3 Criteria for Selection

The successful Proposer, if any, selected by University through this RFP will be the Proposer that submits a proposal on or before the Submittal Deadline that is the most advantageous to University. Contractor means the successful Proposer under this RFP.

Proposer is encouraged to propose terms and conditions offering the maximum benefit to University in terms of (1) service, (2) total overall cost, and (3) project management expertise.

The evaluation of proposals and the selection of Contractor will be based on the information provided in the proposal. University may consider additional information if University determines the information is relevant.

Criteria to be considered by University in evaluating proposals and selecting Contractor, will be these factors:

2.3.1 Threshold Criteria Not Scored

2.3.1.1 Ability of University to comply with laws regarding Historically Underutilized Businesses; and

2.3.1.2 Ability of University to comply with laws regarding purchases from persons with disabilities.

2.3.2 Scored Criteria

It is University’s intent to award an Agreement to the Proposer whose proposal is considered to be the best value to the State. When considering ‘best value’ and award, University reserves the right to set a minimum score requirement for the non-cost criteria listed in the table below.

Proposer Qualifications

20%

40%

2.4 Key Events Schedule

Date RFP Issued August 25, 2025

Question Deadline September 15, 2025 (ref. Section 2.2)

Oral Presentations To be scheduled at a later date if applicable.

(ref. Section 1.5 of APPENDIX ONE)

2.5 Historically Underutilized Businesses

2.5.1 All agencies of the State of Texas are required to make a good faith effort to utilize historically underutilized businesses (each a HUB) in contracts. The goal of the HUB program is to promote full and equal business opportunity for all businesses in contracting with state agencies and state universities. Pursuant to the HUB program, if a Contractor plans to subcontract any of the Services under the terms of any agreement or contractual arrangement resulting from this RFP, then the Contractor must make a good faith effort to utilize HUBs certified by the State of Texas. Proposals that fail to comply with the requirements contained in the HUB Subcontracting Plan referred to in Section 2.5.3 will constitute a material failure to comply with advertised specifications and will be rejected by University as non-responsive. Additionally, compliance with good faith effort guidelines is a condition precedent to awarding any agreement or contractual arrangement resulting from this RFP. Proposer acknowledges that, if selected by University, its obligation to make a good faith effort to utilize HUBs when subcontracting any of the Services will continue throughout the term of all agreements and contractual arrangements resulting from this RFP. Furthermore, any subcontracting of the Services by Proposer is subject to review by University to ensure compliance with the HUB program.

2.5.2 University has reviewed this RFP in accordance with Title 34, Texas Administrative Code, Section 20.285, and has determined that subcontracting opportunities (HUB and/or Non-HUB) are probable under this RFP. The HUB subcontracting participation goal for this RFP is 26% of the expected value of the Proposer’s entire proposal.

2.5.3 A HUB Subcontracting Plan (HSP) is required as part of, but submitted separately from, Proposer’s proposal. The HSP will be developed and administered in accordance with University’s Policy on Utilization of Historically Underutilized Businesses and incorporated for all purposes.

Each Proposer, whether HUB certified or not, and whether self-performing or planning to subcontract, must complete and return the HSP in accordance with the terms and conditions of this RFP. Proposers that fail to do so will be considered non-responsive to this RFP in accordance with §2161.252, Government Code.

Questions regarding the HSP may be directed to:

Contact: Kyle Hayes HUB Coordinator

Proposer will not be permitted to change its HSP after the deadline submittal date unless: (1) Contractor completes a new HSP, setting forth all modifications requested by Contractor, (2) Contractor provides the modified HSP to University, (3) University HUB Program Office approves the modified HSP in writing, and (4) all agreements resulting from this RFP are amended in writing to conform to the modified HSP.

Instructions on Completing an HSP

Proposer must visit https://www.utsystem.edu/offices/historically-underutilized-business/hub-forms/hub-plan-templates-commodities-services-procurement to download the most current HSP/Exhibit H form for use with this RFP. Proposer will find on the HUB Forms webpage a link to “Guide to Selecting the Appropriate HSP Option.” Click on this link and read the Guide first before selecting an HSP Option. Proposer shall select from the five (5) Options available, the Option that is most applicable to Proposer’s subcontracting intentions. These forms are in fillable PDF format and must be downloaded and opened with Adobe Acrobat / Reader to utilize the fillable function. Each Option is accompanied by an HSP Completion Guide. If Proposer has any questions regarding which Option to use, Proposer shall contact the HUB Coordinator listed in Section 2.5.3.

Proposer must complete the HSP, then print, sign (electronic signatures are acceptable) and scan all pages of the HSP Option selected, with additional support documentation*, and submit via Bonfire (EUNA Procurement) portal no later than the proposal submittal deadline date and time.

Each Proposer’s HSP will be evaluated for completeness and compliance prior to opening the proposal to confirm Proposer compliance with HSP rules and standards. Proposer’s failure to submit one (1) completed and signed HSP to the Bonfire (EUNA Procurement) portal will result in University’s rejection of the proposal as non-responsive due to material failure to comply with advertised specifications.

*If Proposer’s submitted HSP refers to specific page(s)/Sections(s) of Proposer’s proposal that explain how Proposer will perform entire contract with its own equipment, supplies, materials and/or employees, Proposer must submit copies of those pages with the HSP sent to the Bonfire (EUNA Procurement) Portal. In addition, all solicitation emails to potential subcontractors must be included as backup documentation to the Proposer’s HSP to demonstrate Good Faith Effort. Failure to do so will slow the evaluation process and may result in DISQUALIFICATION.

2.5.4 University may offer Proposer an opportunity to seek informal review of its draft HSP by University’s HUB Office before the Submittal Deadline. If University extends this offer, details will be provided at the Pre-Proposal Conference (ref. Section 2.6 of this RFP) or by other means. Informal review is designed to help address questions Proposer may have about how to complete its HSP properly. Concurrence or comment on Proposer’s draft HSP by University will not constitute formal approval of the HSP and will not eliminate the need for Proposer to submit its final HSP to University as instructed by Section 2.5.3.

2.6 Voluntary Pre-Proposal Conference

University will hold a virtual pre-proposal conference from 1:00 p.m. to 2:00 p.m. CDT on September 11, 2025. The pre-proposal conference will allow all Proposers an opportunity to ask University’s representatives relevant questions and clarify provisions of this RFP.

Registration link:

https://events.teams.microsoft.com/event/e94f9718-bb20-4c79-8afb-5d641f3aba4f@61399d5f-249c-44d0-b271-adc287f323ff

SECTION 3

SUBMISSION OF PROPOSAL

3.1 Submission

Proposals must be received by University on or before the Submittal Deadline (ref. Section 2.1) through University’s Bonfire (EUNA Procurement) portal.

3.2 Proposal Validity Period

Each proposal must state that it will remain valid for University’s acceptance for a minimum of one hundred and twenty (120) days after the Submittal Deadline, to allow time for evaluation, selection, and any unforeseen delays.

3.3 Terms and Conditions

3.3.1 Proposer must comply with the requirements and specifications contained in this RFP, including the Agreement (ref. APPENDIX TWO), the Notice to Proposer (ref. Section 2), Proposal Requirements (ref. APPENDIX ONE) and the Specifications and Additional Questions (ref. Section 5). If there is a conflict among the provisions in this RFP, the provision requiring Proposer to supply the better quality or greater quantity of services will prevail, or if such conflict does not involve quality or quantity, then interpretation will be in the following order of precedence:

3.3.1.1 Specifications and Additional Questions (ref. Section 5);

3.3.1.2 Agreement (ref. Section 4 and APPENDIX TWO);

3.3.1.3 Proposal Requirements (ref. APPENDIX ONE);

3.3.1.4 Notice to Proposers (ref. Section 2).

3.4 Submittal Checklist

Proposer is instructed to complete, sign, and return the following documents as a part of its proposal. If Proposer fails to return each of the following items with its proposal, then University may reject the proposal:

3.4.1 Signed and Completed Execution of Offer (ref. Section 2 of APPENDIX ONE)

3.4.2 Signed and Completed Pricing and Delivery Schedule (ref. Section 6)

3.4.3 Responses to Proposer's General Questionnaire (ref. Section 3 of APPENDIX ONE)

3.4.4 Signed and Completed Addenda Checklist (ref. Section 4 of APPENDIX ONE)

3.4.5 Responses to questions and requests for information in the Specifications and Additional Questions Section (ref. Section 5)

3.4.8 Response to Access by Individuals with Disabilities (ref. Section 5.3.3 and APPENDIX THREE)

SECTION 4

TERMS AND CONDITIONS

The terms and conditions contained in the attached Agreement (ref. APPENDIX TWO) or, in the sole discretion of University, terms and conditions substantially similar to those contained in the Agreement, will constitute and govern any agreement that results from this RFP. If Proposer takes exception to any terms or conditions set forth in the Agreement, Proposer will submit a list of the exceptions as part of its proposal in accordance with Section 5.3.1. Proposer’s exceptions will be reviewed by University and may result in disqualification of Proposer’s proposal as non-responsive to this RFP. If Proposer’s exceptions do not result in disqualification of Proposer’s proposal, then University may consider Proposer’s exceptions when University evaluates the Proposer’s proposal.

By submitting its proposal, Proposer understands and agrees that it will not submit or require any additional exceptions to the Agreement that are not set forth in its proposal. For example, Proposer agrees that it will not submit or require any additional exceptions to the attached Agreement (ref. APPENDIX TWO) in the event that University selects Proposer as the Contractor (ref. Section 5.1). University reserves the right to not accept any such additional exceptions submitted or required by a Proposer that are not included within Proposer’s proposal.

SECTION 5

SPECIFICATIONS AND ADDITIONAL QUESTIONS

5.1 General

Minimum requirements and specifications for Work, as well as certain requests for information to be provided by Proposer as part of its proposal, are set forth below. As indicated in Section 2.3, Contractor means the successful Proposer.

Approval by the Board of Regents: No Agreement resulting from this RFP shall exceed two million dollars ($2,000,000) without the approval of The University of Texas System Board of Regents.

5.2 Intentionally Omitted.

5.3 Additional Submittals Specific to this RFP

Proposer must submit the following information as part of Proposer’s proposal:

5.3.1 If Proposer takes exception to any terms or conditions set forth in APPENDIX TWO, Proposer must submit a list of the exceptions including a detailed explanation for each. If Proposer agrees with the terms and conditions set forth in APPENDIX TWO, Proposer must submit a written statement confirming acceptance.

5.3.2 By signing the Execution of Offer (ref. Section 2 of APPENDIX ONE), Proposer agrees to comply with Certificate of Interested Parties laws (ref. §2252.908, Government Code) and 1 TAC §§46.1 through 46.5) as implemented by the Texas Ethics Commission (TEC), including, among other things, providing TEC and University with information required on the form promulgated by TEC. Proposer may learn more about these disclosure requirements, including applicable exceptions and use of the TEC electronic filing system, by reviewing §2252.908, Government Code, and information on the TEC website at https://www.ethics.state.tx.us/resources/FAQs/FAQ_Form1295.php. The Certificate of Interested Parties must only be submitted by Contractor upon delivery to University of a signed Agreement.

5.3.3 In its proposal, Proposer must indicate whether it will consent to include in the Agreement the “Access by Individuals with Disabilities” language that is set forth in APPENDIX THREE, Access by Individuals with Disabilities. If Proposer objects to the inclusion of the “Access by Individuals with Disabilities” language in the Agreement, Proposer must, as part of its proposal, specifically identify and describe in detail all of the reasons for Proposer’s objection. NOTE: A GENERAL OBJECTION IS NOT AN ACCEPTABLE RESPONSE TO THIS QUESTION.

5.4 Scope of Work

Contractor will provide professional actuarial services to University for, but not limited to, the following self-funded Plans:

· Workers’ Compensation Insurance (WCI);

· Unemployment Compensation Insurance (UCI);

· Directors & Officers (D&O)/Employment Practices Liability (EPL) and Cyber Liability Plan;

· Comprehensive Property Protection Plan – Fire and All Other Perils Program (AOP);

· Comprehensive Property Protection Plan – Wind and Flood;

· Rolling Owner Controlled Insurance Program (ROCIP); and

· Auto Property & Liability Plan (Auto).

5.4.1 Annual Loss Reserve Analysis

Contractor will:

Prepare an annual loss reserve analysis in accordance with standard industry practices. This loss reserve is to be calculated as of August 31st each year for the duration of the contract period. The annual review will include an executive summary, definition section and financial presentation of incurred but not reported (IBNR) losses through the current fiscal year. This will include an annual gain/loss analysis to determine reasons for changes in IBNR.

5.4.2 Annual Rate Study

Contractor will:

Conduct an annual rate study for each Plan to determine the annual premium amounts and calculate the premium rates for participants using the University’s premium allocation method. Conduct the premium rate analyses for each self-insured Plan and its participants in accordance with standard industry practices utilizing University historical claim and reserve data as well as other industry data. This analysis will include a recommendation for premium rates overall and by participant and include an evaluation of the impact of rates on the fund balance.

5.4.3 Fund Balance Review

Contractor will:

Review the fund balance as a part of the annual rate study and recommend an optimal capitalization amount for each plan including an evaluation of the adequacy of the Plan and its reserves to finance potential claims.

5.4.4 Plan Parameter Impact Analysis

Contractor will:

Provide analysis of actual or potential changes in retention levels, changes in coverage, limits, or other parameters impacting self-insured plans to assist University with capitalization and other plan management decisions upon request.

5.4.5 Documentation of Assumptions and Methodology

Contractor will:

Document the actuarial assumptions and underlying basis for the recommended loss reserves and premium rates. The results of the analysis will include a complete description of the findings and thorough documentation of the data and methodology used. It will also include a sensitivity analysis showing how alternative assumptions would impact the study’s findings.

5.4.6 Claims Data Quality Assessment

Contractor will:

Analyze the claims data to assess any inconsistencies and make recommendations for enhancing data quality.

5.4.7 WCI Resource Allocation Program (RAP)

Contractor will:

Determine an appropriate amount to be distributed to UT institutions through the WCI RAP using the program’s allocation methodology.

5.4.8 ROCIP Rate Setting

Contractor will:

Determine the claim cost experience and program contribution rates per dollar of completed contract price for the ROCIP in order to set rates for future phases.

5.4.9 ROCIP Rebate Allocation

Contractor will:

Determine the appropriate rebate savings amounts as ROCIP phases are complete. Recommend an allocation methodology for rebates to participants utilizing historical premium and claim loss data.

5.4.10 Ad Hoc Actuarial Consultation

Contractor will:

Perform other actuarial consultation as requested by University, including but not limited to new analysis of existing programs or analysis of new self-insurance, high retentions, etc. programs if added in the future.

5.5 Additional Questions Specific to this RFP

Proposer must complete a Bonfire (EUNA Procurement) Questionnaire with answers to the questions below:

Proposer Experience (20%)

0. Provide a customer reference list of no less than three (3) organizations with which Proposer currently has contracts and/or to which Proposer has previously provided services (within the past five (5) years) of a type and scope similar to those required by University’s RFP. Proposer will include in its customer reference list the customer’s company name, contact person, telephone number, project description, length of business relationship, and background of services provided by Proposer.

0. Has Proposer worked with UT institutions in the past five (5) years? If “yes,” state UT institution name, department name, department contact, and provide a brief description of work performed.

0. What is Proposer’s customer retention rate over the past five (5) years? Provide examples of long-term relationships and repeat engagements, highlighting any public sector or higher education relationships.

Proposer Qualifications (40%)

0. Provide summary resumes the key personnel who will be providing services under the Agreement with University, including their specific experiences with similar service projects, and number of years of employment with Proposer.

0. What is the average tenure of Proposer’s actuarial staff? How does Proposer ensure continuity and stability in project teams?

0. Provide a summary of Proposer’s qualifications, including:

· Years in business

· Areas of actuarial specialization

· Experience with public sector or higher education customers

· Any industry recognitions or awards

0. Submit up to three (3) sample actuarial reports (redacted if necessary) that demonstrate:

· Clarity of communication

· Analytical rigor

· Presentation of findings and recommendations

· Use of visual aids (charts, graphs, tables)

Approach to Work (20%)

0. Describe Proposer’s service approach to delivering the Work identified in Section 5.4 of this RFP. Include:

Project phases and timelines Communication and reporting protocols Tools or models used in analysis Strategies for ensuring accuracy and reliability

0. How does Proposer maintain compliance with professional standards and ethical guidelines?

0. Describe how Proposer ensures timely and effective communication with customers. Include:

· Response time expectations

· Availability of key personnel

0. How does Proposer stay current with industry trends, regulatory changes, and actuarial best practices?

0. How does Proposer tailor its actuarial models and reporting to meet the specific needs of each customer?

0. Outline Proposer’s internal quality control processes. How does Proposer ensure accuracy and consistency in its actuarial work?

0. Describe any innovative methodologies, technologies, or tools Proposer uses to enhance actuarial analysis or reporting.

SECTION 6

PRICING AND DELIVERY SCHEDULE

Proposal of: ___________________________________ (Proposer Company Name)

To: University

RFP No: 720-2518 – Actuarial Services

To Whom It May Concern:

Having examined specifications and requirements of this RFP (including attachments), the undersigned proposes to furnish Work upon the pricing terms quoted below:

6.1 Term of Agreement

University anticipates entering into an Agreement with Contractor for an initial term of five (5) years. University may elect to renew the Agreement for up to one (1) additional one (1) year term.

6.2 Pricing for Work (20%)

Proposer must provide detailed pricing information as outlined below.

6.2.1 Hourly Rates

Provide hourly rates for the following:

6.2.2 Estimated Annual Cost

Provide the total estimated annual cost to complete the full scope of work for a year in which all annual and periodic deliverables (as outlined in Section 6.5) are required. This estimate should reflect a comprehensive understanding of the workload and deliverables.

Total Estimated Annual Cost: $________

6.2.3 Cost Justification

Explain how Proposer calculated the total estimated annual cost in Section 6.2.2 and how pricing reflects the value and quality of services offered. Include any cost-saving strategies or efficiencies.

NOTE: University will not reimburse Contractor for expenses.

6.3 Pricing for Additional Services (Informational Only – 0%)

Provide pricing for any additional services or benefits not otherwise identified in this RFP that Proposer would propose to provide to University. Additional services or benefits must be directly related to the goods and services solicited under this RFP.

6.4 Discounts

Describe all discounts that may be available to University, including educational, federal, state and local discounts.

6.5 Schedule for Completion of Tasks and Submittal of Deliverables

Unemployment Compensation Insurance

Property – Fire and AOP

Periodic (at least every 3 years)

Property – Wind and Flood

Periodic (at least every 3 years)

Actuarial studies are completed annually with data collected on a fiscal year basis. University’s fiscal year runs from September 1 through August 31. University expects to receive an Analysis Report within a month of Contractor receiving the Plan loss and exposure data. The Fund Balance Analysis should occur together with the annual rate study.

Data is provided in August for the WCI Loss Reserve Analysis, both D&O Analyses presented in one (1) study, both Auto Plan Analyses presented in one (1) study, and the ROCIP Loss Reserve Analysis.

Data is provided in February for the WCI Rate Allocation and the UCI Rate Allocation Analysis.

Data is provided in March for the WCI RAP study.

Data is provided in April for the Property – Fire and AOP Fund Balance Analysis and Property – Wind and Flood Fund Balance Analysis which are presented in one (1) study.

Data is provided for the determination of ROCIP rates for future phases approximately once every 3-5 years and ROCIP rebates occur approximately every 2-3 years.

6.6 Payment Terms

University’s standard payment terms are “net 30 days” as mandated by the Texas Prompt Payment Act (ref. Chapter 2251, Government Code).

Indicate below the prompt payment discount that Proposer offers:

Prompt Payment Discount: _____%_____days/net 30 days.

Section 51.012, Education Code, authorizes University to make payments through electronic funds transfer methods. Respondent agrees to accept payments from University through those methods, including the automated clearing house system (ACH). Respondent agrees to provide Respondent’s banking information to University in writing on Respondent letterhead signed by an authorized representative of Respondent. Prior to the first payment, University will confirm Respondent’s banking information. Changes to Respondent’s bank information must be communicated to University in writing at least thirty (30) days before the effective date of the change and must include an IRS Form W‑9 signed by an authorized representative of Respondent.

University, an agency of the State of Texas, is exempt from Texas Sales & Use Tax on goods and services in accordance with §151.309, Tax Code, and Title 34 TAC §3.322. Pursuant to 34 TAC §3.322(c)(4), University is not required to provide a tax exemption certificate to establish its tax exempt status.

Respectfully submitted, Proposer: ____________________________

By: ___________________________ (Authorized Signature for Proposer)

Name: _________________________

Title: __________________________

Date: __________________________

APPENDIX ONE

PROPOSAL REQUIREMENTS

TABLE OF CONTENTS

SECTION 1: GENERAL INFORMATION………………………………………………………….2

SECTION 2: EXECUTION OF OFFER…………………………………………………………….5

SECTION 3: PROPOSER'S GENERAL QUESTIONNAIRE…………………………………….9

SECTION 4: ADDENDA CHECKLIST…………………………………………………………… 11

SECTION 1

GENERAL INFORMATION

1.1 Purpose

University is soliciting competitive sealed proposals from Proposers having suitable qualifications and experience providing services in accordance with the terms, conditions and requirements set forth in this RFP. This RFP provides sufficient information for interested parties to prepare and submit proposals for consideration by University.

By submitting a proposal, Proposer certifies that it understands this RFP and has full knowledge of the scope, nature, quality, and quantity of services to be performed, the detailed requirements of services to be provided, and the conditions under which services are to be performed. Proposer also certifies that it understands that all costs relating to preparing a response to this RFP will be the sole responsibility of the Proposer.

PROPOSER IS CAUTIONED TO READ THE INFORMATION CONTAINED IN THIS RFP CAREFULLY AND TO SUBMIT A COMPLETE RESPONSE TO ALL REQUIREMENTS AND QUESTIONS AS DIRECTED.

1.2 Inquiries and Interpretations

University may in its sole discretion respond in writing to written inquiries concerning this RFP and publish its response as an Addendum to all parties recorded by University as having received a copy of this RFP. Only University’s responses that are made by formal written Addenda will be binding on University. Any verbal responses, written interpretations, or clarifications other than Addenda to this RFP will be without legal effect. All Addenda issued by University prior to the Submittal Deadline will be and are hereby incorporated as a part of this RFP for all purposes.

Proposers are required to acknowledge receipt of each Addendum as specified in this Section. The Proposer must acknowledge all Addenda by completing, signing, and returning the Addenda Checklist (ref. Section 4 of APPENDIX ONE). The Addenda Checklist must be received by University prior to the Submittal Deadline and should accompany the Proposer’s proposal.

1.3 Public Information

Proposer is hereby notified that University strictly adheres to all statutes, court decisions and the opinions of the Texas Attorney General with respect to disclosure of public information.

University may seek to protect from disclosure all information submitted in response to this RFP until such time as a final agreement is executed.

Upon execution of a final agreement, University will consider all information, documentation, and other materials requested to be submitted in response to this RFP, to be of a non-confidential and non-proprietary nature and, therefore, subject to public disclosure under the Texas Public Information Act (ref. Chapter 552, Government Code). Proposer will be advised of a request for public information that implicates their materials and will have the opportunity to raise any objections to disclosure to the Texas Attorney General. Certain information may be protected from release under §§552.101, 552.104, 552.110, 552.113, and 552.131, Government Code.

1.4 Type of Agreement

Contractor, if any, will be required to enter into a contract with University in a form substantially similar to the Agreement between University and Contractor attached to this RFP as APPENDIX TWO, and otherwise acceptable to University in all respects (Agreement).

1.5 Proposal Evaluation Process

University will select Contractor by using the competitive sealed proposal process described in this Section. Any proposals that are not submitted by the Submittal Deadline or that are not accompanied by required number of completed and signed originals of the HSP will be rejected by University as non-responsive due to material failure to comply with this RFP (ref. Section 2.5.4). Upon completion of the initial review and evaluation of proposals, University may invite one or more selected Proposers to participate in oral presentations. University will use commercially reasonable efforts to avoid public disclosure of the contents of a proposal prior to selection of Contractor.

University may make the selection of Contractor on the basis of the proposals initially submitted, without discussion, clarification or modification. In the alternative, University may make the selection of Contractor on the basis of negotiation with any of the Proposers. In conducting negotiations, University will use commercially reasonable efforts to avoid disclosing the contents of competing proposals.

University may discuss and negotiate all elements of proposals submitted by Proposers within a specified competitive range. For purposes of negotiation, University may establish, after an initial review of the proposals, a competitive range of acceptable or potentially acceptable proposals composed of the highest rated proposal(s). In that event, University may defer further action on proposals not included within the competitive range pending the selection of Contractor; provided, however, University reserves the right to include additional proposals in the competitive range if deemed to be in the best interest of University.

After the Submittal Deadline but before final selection of Contractor, University may permit Proposer to revise its proposal in order to obtain the Proposer's best and final offer. In that event, representations made by Proposer in its revised proposal, including price and fee quotes, will be binding on Proposer. University will provide each Proposer within the competitive range with an equal opportunity for discussion and revision of its proposal. University is not obligated to select the Proposer offering the most attractive economic terms if that Proposer is not the most advantageous to University overall, as determined by University.

University reserves the right to (a) enter into an agreement for all or any portion of the requirements and specifications set forth in this RFP with one or more Proposers, (b) reject any and all proposals and re-solicit proposals, or (c) reject any and all proposals and temporarily or permanently abandon this selection process, if deemed to be in the best interests of University. Proposer is hereby notified that University will maintain in its files concerning this RFP a written record of the basis upon which a selection, if any, is made by University.

1.6 Proposer's Acceptance of RFP Terms

Proposer (1) accepts [a] Proposal Evaluation Process (ref. Section 1.5 of APPENDIX ONE), [b] Criteria for Selection (ref. Section 2.3), [c] Specifications and Additional Questions (ref. Section 5), [d] terms and conditions of the Agreement (ref. APPENDIX TWO), and [e] all other requirements and specifications set forth in this RFP; and (2) acknowledges that some subjective judgments must be made by University during this RFP process.

1.7 Solicitation for Proposal and Proposal Preparation Costs

Proposer understands and agrees that (1) this RFP is a solicitation for proposals and University has made no representation written or oral that one or more agreements with University will be awarded under this RFP; (2) University issues this RFP predicated on University’s anticipated requirements for Work, and University has made no representation, written or oral, that any particular scope of work will actually be required by University; and (3) Proposer will bear, as its sole risk and responsibility, any cost that arises from Proposer’s preparation of a proposal in response to this RFP.

1.8 Proposal Requirements and General Instructions

1.8.1 Proposer should carefully read the information contained herein and submit a complete proposal in response to all requirements and questions as directed.

1.8.2 Proposals and any other information submitted by Proposer in response to this RFP will become the property of University.

1.8.3 University will not provide compensation to Proposer for any expenses incurred by the Proposer for proposal preparation or for demonstrations or oral presentations that may be made by Proposer. Proposer submits its proposal at its own risk and expense.

1.8.4 Proposals that (i) are qualified with conditional clauses; (ii) alter, modify, or revise this RFP in any way; or (iii) contain irregularities of any kind, are subject to disqualification by University, at University’s sole discretion.

1.8.5 Proposals should be prepared simply and economically, providing a straightforward, concise description of Proposer's ability to meet the requirements and specifications of this RFP. Emphasis should be on completeness, clarity of content, and responsiveness to the requirements and specifications of this RFP.

1.8.6 University makes no warranty or guarantee that an award will be made as a result of this RFP. University reserves the right to accept or reject any or all proposals, waive any formalities, procedural requirements, or minor technical inconsistencies, and delete any requirement or specification from this RFP or the Agreement when deemed to be in University's best interest. University reserves the right to seek clarification from any Proposer concerning any item contained in its proposal prior to final selection. Such clarification may be provided by telephone conference or personal meeting with or writing to University, at University’s sole discretion. Representations made by Proposer within its proposal will be binding on Proposer.

1.8.7 Any proposal that fails to comply with the requirements contained in this RFP may be rejected by University, in University’s sole discretion.

1.9 Preparation and Submittal Instructions

1.9.1 Specifications and Additional Questions

Proposals must include responses to the questions in Specifications and Additional Questions (ref. Section 5). Proposer should reference the item number and repeat the question in its response. In cases where a question does not apply or if unable to respond, Proposer should refer to the item number, repeat the question, and indicate N/A (Not Applicable) or N/R (No Response), as appropriate. Proposer should explain the reason when responding N/A or N/R.

1.9.2 Execution of Offer

Proposer must complete, sign, and return the attached Execution of Offer (ref. Section 2 of APPENDIX ONE) as part of its proposal. The Execution of Offer must be signed by a representative of Proposer duly authorized to bind the Proposer to its proposal. Any proposal received without a completed and signed Execution of Offer may be rejected by University, in its sole discretion.

1.9.3 Pricing and Delivery Schedule

Proposer must complete and return the Pricing and Delivery Schedule (ref. Section 6), as part of its proposal. In the Pricing and Delivery Schedule, the Proposer should describe in detail (a) the total fees for the entire scope of Work; and (b) the method by which the fees are calculated. The fees must be inclusive of all associated costs for delivery, labor, insurance, taxes, overhead, and profit.

University will not recognize or accept any charges or fees to perform Work that are not specifically stated in the Pricing and Delivery Schedule.

In the Pricing and Delivery Schedule, Proposer should describe each significant phase in the process of providing Work to University, and the time period within which Proposer proposes to be able to complete each such phase.

1.9.4 Proposer’s General Questionnaire

Proposals must include responses to the questions in Proposer’s General Questionnaire (ref. Section 3 of APPENDIX ONE). Proposer should reference the item number and repeat the question in its response. In cases where a question does not apply or if unable to respond, Proposer should refer to the item number, repeat the question, and indicate N/A (Not Applicable) or N/R (No Response), as appropriate. Proposer should explain the reason when responding N/A or N/R.

1.9.5 Addenda Checklist

Proposer should acknowledge all Addenda to this RFP (if any) by completing, signing, and returning the Addenda Checklist (ref. Section 4 of APPENDIX ONE) as part of its proposal. Any proposal received without a completed and signed Addenda Checklist may be rejected by University, in its sole discretion.

1.9.6 Submission

Proposer should submit all proposal materials as instructed in Section 3.

Proposer must also submit the HUB Subcontracting Plan (also called the HSP) as required by Section 2.6.

University will not under any circumstances consider a proposal that is received after the Submittal Deadline or which is not accompanied by the HSP as required by Section 2.5. University will not accept proposals submitted by mail, email, telephone, or FAX transmission.

Except as otherwise provided in this RFP, no proposal may be changed, amended, or modified after it has been submitted to University. However, a proposal may be withdrawn and resubmitted at any time prior to the Submittal Deadline. No proposal may be withdrawn after the Submittal Deadline without University’s consent, which will be based on Proposer's written request explaining and documenting the reason for withdrawal, which is acceptable to University.

SECTION 2

EXECUTION OF OFFER

THIS EXECUTION OF OFFER MUST BE COMPLETED, SIGNED AND RETURNED WITH PROPOSER'S PROPOSAL. FAILURE TO COMPLETE, SIGN AND RETURN THIS EXECUTION OF OFFER WITH THE PROPOSER’S PROPOSAL MAY RESULT IN THE REJECTION OF THE PROPOSAL.

2.1 Representations and Warranties.

Proposer represents, warrants, certifies, acknowledges, and agrees as follows:

2.1.1 Proposer will furnish Work to University and comply with all terms, conditions, requirements and specifications set forth in this RFP and any resulting Agreement.

2.1.2 This RFP is a solicitation for a proposal and is not a contract or an offer to contract Submission of a proposal by Proposer in response to this RFP will not create a contract between University and Proposer. University has made no representation or warranty, written or oral, that one or more contracts with University will be awarded under this RFP. Proposer will bear, as its sole risk and responsibility, any cost arising from Proposer’s preparation of a response to this RFP.

2.1.3 Proposer is a reputable company that is lawfully and regularly engaged in providing Work.

2.1.4 Proposer has the necessary experience, knowledge, abilities, skills,…