4%20_BYNAC_Technical_Proposal%20_2021.pdf

Mary Jean King, FCAS, CERA, MAAA Principal & Consulting Actuary 118 Warfield Road Cherry Hill, NJ 08034 P:856.428.5961 mking@bynac.com

RFP ATTACHMENT 6.2. — Section A

TECHNICAL RESPONSE & EVALUATION GUIDE

SECTION A: MANDATORY REQUIREMENTS. The Respondent must address all items detailed below and provide, in sequence, the information and documentation as required (referenced with the associated item references). The Respondent must also detail the response page number for each item in the appropriate space below.

The Solicitation Coordinator will review the response to determine if the Mandatory Requirement Items are addressed as required and mark each with pass or fail. For each item that is not addressed as required, the Proposal Evaluation Team must review the response and attach a written determination. In addition to the Mandatory Requirement Items, the Solicitation Coordinator will review each response for compliance with all RFP requirements.

RESPONDENT LEGAL ENTITY

NAME:

Response Page #

(Respondent completes)

Item Ref.

Section A— Mandatory Requirement Items Pass/Fail

The Response must be delivered to the State no later than the Response Deadline specified in the RFP Section 2, Schedule of Events.

The Technical Response must NOT contain cost or pricing information of any type.

The Technical Response must NOT contain any restrictions of the rights of the State or other qualification of the response.

A Respondent must NOT submit alternate responses (refer to RFP Section 3.3.).

A Respondent must NOT submit multiple responses in different forms (as a prime and a subcontractor) (refer to RFP Section 3.3.).

2 A.1. Provide the Statement of Certifications and Assurances (RFP Attachment 6.1.) completed and signed by an individual empowered to bind the Respondent to the provisions of this RFP and any resulting contract. The document must be signed without exception or qualification. If the signatory is not the Respondent (if an individual) or the Respondent’s company President or Chief Executive Officer, this document must attach evidence showing the individual’s authority to bind the Respondent.

1 A.2. Provide a statement, based upon reasonable inquiry, of whether the Respondent or any individual who shall cause to deliver goods or perform services under the contract has a possible conflict of interest (e.g., employment by the State of Tennessee) and, if so, the nature of that conflict.

NOTE: Any questions of conflict of interest shall be solely within the discretion of the State, and the State reserves the right to cancel any award.

3 A.3. Provide a current bank reference indicating that the Respondent’s business relationship with the financial institution is in positive standing. Such reference must be written in the form of a standard business letter, signed, and dated within the past three (3) months.

4-5 A.4. Provide two current positive credit references from vendors with which the Respondent has done business written in the form of standard business letters, signed, and dated within the past three (3) months.

(Respondent completes)

Item Ref.

Section A— Mandatory Requirement Items Pass/Fail

6-8 A.5. Provide an official document or letter from an accredited credit bureau, verified and dated within the last three (3) months and indicating a satisfactory credit rating for the Respondent (NOTE: A credit bureau report number without the full report is insufficient and will not be considered responsive.)

State Use – Solicitation Coordinator Signature, Printed Name & Date:

RFP ATTACHMENT 6.2. — SECTION B

TECHNICAL RESPONSE & EVALUATION GUIDE

SECTION B: GENERAL QUALIFICATIONS & EXPERIENCE. The Respondent must address all items detailed below and provide, in sequence, the information and documentation as required (referenced with the associated item references). The Respondent must also detail the response page number for each item in the appropriate space below. Proposal Evaluation Team members will independently evaluate and assign one score for all responses to Section B— General Qualifications & Experience Items.

RESPONDENT LEGAL ENTITY

NAME:

Response Page #

(Respondent completes)

Item Ref.

Section B— General Qualifications & Experience Items

9 B.1. Detail the name, e-mail address, mailing address, telephone number, and facsimile number of the person the State should contact regarding the response.

9 B.2. Describe the Respondent’s form of business (i.e., individual, sole proprietor, corporation, non-profit corporation, partnership, limited liability company) and business location (physical location or domicile).

9 B.3. Detail the number of years the Respondent has been in business.

9 B.4. Briefly describe how long the Respondent has been providing the goods or services required by this RFP.

9 B.5. Describe the Respondent’s number of employees, client base, and location of offices.

9 B.6. Provide a statement of whether there have been any mergers, acquisitions, or change of control of the Respondent within the last ten (10) years. If so, include an explanation providing relevant details.

9 B.7. Provide a statement of whether the Respondent or, to the Respondent's knowledge, any of the Respondent’s employees, agents, independent contractors, or subcontractors, involved in the delivery of goods or performance of services on a contract pursuant to this RFP, have been convicted of, pled guilty to, or pled nolo contendere to any felony. If so, include an explanation providing relevant details.

10 B.8. Provide a statement of whether, in the last ten (10) years, the Respondent has filed (or had filed against it) any bankruptcy or insolvency proceeding, whether voluntary or involuntary, or undergone the appointment of a receiver, trustee, or assignee for the benefit of creditors. If so, include an explanation providing relevant details.

10 B.9. Provide a statement of whether there is any material, pending litigation against the Respondent that the Respondent should reasonably believe could adversely affect its ability to meet contract requirements pursuant to this RFP or is likely to have a material adverse effect on the Respondent’s financial condition. If such exists, list each separately, explain the relevant details, and attach the opinion of counsel addressing whether and to what extent it would impair the Respondent’s performance in a contract pursuant to this RFP.

NOTE: All persons, agencies, firms, or other entities that provide legal opinions regarding the Respondent must be properly licensed to render such opinions. The State may require the Respondent to submit proof of license for each person or entity that renders such opinions.

10 B.10. Provide a statement of whether there are any pending or in progress Securities Exchange Commission investigations involving the Respondent. If such exists, list each separately, explain the relevant details, and attach the opinion of counsel addressing whether and to what extent it will impair the Respondent’s performance in a contract pursuant to this RFP.

02‐20‐20 RFP

RFP ATTACHMENT 6.2. — SECTION B (continued)

RESPONDENT LEGAL ENTITY

NAME:

Response Page #

(Respondent completes)

Item Ref.

Section B— General Qualifications & Experience Items

NOTE: All persons, agencies, firms, or other entities that provide legal opinions regarding the Respondent must be properly licensed to render such opinions. The State may require the Respondent to submit proof of license for each person or entity that renders such opinions.

10 B.11. Provide a brief, descriptive statement detailing evidence of the Respondent’s ability to deliver the goods or services sought under this RFP (e.g., prior experience, training, certifications, resources, program and quality management systems, etc.).

10 B.12. Provide a narrative description of the proposed project team, its members, and organizational structure along with an organizational chart identifying the key people who will be assigned to deliver the goods or services required by this RFP.

10-13 B.13. Provide a personnel roster listing the names of key people who the Respondent will assign to meet the Respondent’s requirements under this RFP along with the estimated number of hours that each individual will devote to that performance. Follow the personnel roster with a resume for each of the people listed. The resumes must detail the individual’s title, education, current position with the Respondent, and employment history.

14 B.14. Provide a statement of whether the Respondent intends to use subcontractors to meet the Respondent’s requirements of any contract awarded pursuant to this RFP, and if so, detail:

(a) the names of the subcontractors along with the contact person, mailing address, telephone number, and e-mail address for each;

(b) a description of the scope and portions of the goods each subcontractor involved in the delivery of goods or performance of the services each subcontractor will perform; and

(c) a statement specifying that each proposed subcontractor has expressly assented to being proposed as a subcontractor in the Respondent’s response to this RFP.

14 B.15. Provide documentation of the Respondent’s commitment to diversity as represented by the following:

(a) Business Strategy. Provide a description of the Respondent’s existing programs and procedures designed to encourage and foster commerce with business enterprises owned by minorities, women, service-disabled veterans, persons with disabilities, and small business enterprises. Please also include a list of the Respondent’s certifications as a diversity business, if applicable.

(b) Business Relationships. Provide a listing of the Respondent’s current contracts with business enterprises owned by minorities, women, service-disabled veterans, persons with disabilities, and small business enterprises. Please include the following information:

(i) contract description;

(ii) contractor name and ownership characteristics (i.e., ethnicity, gender, service-disabled veteran-owned or persons with disabilities);

(iii) contractor contact name and telephone number.

(c) Estimated Participation. Provide an estimated level of participation by business enterprises owned by minorities, women, service-disabled veterans, persons with disabilities and small business enterprises if a contract is awarded to the Respondent pursuant to this RFP.

Please include the following information:

(i) a percentage (%) indicating the participation estimate. (Express the estimated participation number as a percentage of the total estimated contract value that will be dedicated to business with subcontractors and supply contractors having such ownership characteristics only and DO NOT INCLUDE DOLLAR AMOUNTS);

(ii) anticipated goods or services contract descriptions;

(iii) names and ownership characteristics (i.e., ethnicity, gender, service-disabled veterans, or disability) of anticipated subcontractors and supply contractors.

(Respondent completes)

Item Ref.

Section B— General Qualifications & Experience Items

NOTE: In order to claim status as a Diversity Business Enterprise under this contract, businesses must be certified by the Governor’s Office of Diversity Business Enterprise (Go- DBE). Please visit the Go-DBE website at https://tn.diversitysoftware.com/FrontEnd/StartCertification.asp?TN=tn&XID=9810 for more information.

(d) Workforce. Provide the percentage of the Respondent’s total current employees by ethnicity and gender.

NOTE: Respondents that demonstrate a commitment to diversity will advance State efforts to expand opportunity to do business with the State as contractors and subcontractors.

Response evaluations will recognize the positive qualifications and experience of a Respondent that does business with enterprises owned by minorities, women, service-disabled veterans, persons with disabilities, and small business enterprises and who offer a diverse workforce.

14 B.16. Provide a statement of whether or not the Respondent has any current contracts with the State of Tennessee or has completed any contracts with the State of Tennessee within the previous five (5) year period. If so, provide the following information for all of the current and completed contracts:

(a) the name, title, telephone number and e-mail address of the State contact knowledgeable about the contract;

(b) the procuring State agency name;

(c) a brief description of the contract’s scope of services;

(d) the contract period; and

(e) the contract number.

14-15 B.17. Provide customer references from individuals who are not current or former State employees for projects similar to the goods or services sought under this RFP and which represent:

two (2) accounts Respondent currently services that are similar in size to the State; and three (3) completed projects.

References from at least three (3) different individuals are required to satisfy the requirements above, e.g., an individual may provide a reference about a completed project and another reference about a currently serviced account. The standard reference questionnaire, which must be used and completed, is provided at RFP Attachment 6.4. References that are not completed as required may be deemed non-responsive and may not be considered.

The Respondent will be solely responsible for obtaining fully completed reference questionnaires and ensuring they are e-mailed to the Solicitation Coordinator. In order to obtain and submit the completed reference questionnaires follow the process below.

(a) Add the Respondent’s name to the standard reference questionnaire at RFP Attachment

6.4. and make a copy for each reference.

(b) Either (i) send a reference questionnaire to each reference or (ii) e-mail the reference with a copy of the standard reference questionnaire.

(c) Instruct the reference to:

(i) complete the reference questionnaire;

(ii) sign and date the completed reference questionnaire;

(iii) e-mail the reference directly to the Solicitation Coordinator by no later than the Response Deadline date and time with the subject line of the e-mail as “[Respondent Name]” Referenced for RFP 30901-47220.

NOTES:

RESPONDENT LEGAL ENTITY

NAME:

Response Page #

(Respondent completes)

Item Ref.

Section B— General Qualifications & Experience Items

The State will not accept late references or references submitted by any means other than that which is described above, and each reference questionnaire submitted must be completed as required.

The State will not review more than the number of required references indicated above.

While the State will base its reference check on the contents of the e-mails, the State reserves the right to confirm and clarify information detailed in the completed reference questionnaires and may consider clarification responses in the evaluation of references.

The State is under no obligation to clarify any reference information.

15 B.18. Provide a statement and any relevant details addressing whether the Respondent is any of the following:

(a) is presently debarred, suspended, proposed for debarment, or voluntarily excluded from covered transactions by any federal or state department or agency;

(b) has within the past three (3) years, been convicted of, or had a civil judgment rendered against the contracting party from commission of fraud, or a criminal offence in connection with obtaining, attempting to obtain, or performing a public (federal, state, or local) transaction or grant under a public transaction; violation of federal or state antitrust statutes or commission of embezzlement, theft, forgery, bribery, falsification or destruction of records, making false statements, or receiving stolen property;

(c) is presently indicted or otherwise criminally or civilly charged by a government entity (federal, state, or local) with commission of any of the offenses detailed above; and

(d) has within a three (3) year period preceding the contract had one or more public transactions (federal, state, or local) terminated for cause or default.

SCORE (for all Section B—Qualifications & Experience Items above):

(maximum possible score = 25)

State Use – Evaluator Identification:

RFP ATTACHMENT 6.2. — SECTION C

TECHNICAL RESPONSE & EVALUATION GUIDE

SECTION C: TECHNICAL QUALIFICATIONS, EXPERIENCE & APPROACH. The Respondent must address all items (below) and provide, in sequence, the information and documentation as required (referenced with the associated item references). The Respondent must also detail the response page number for each item in the appropriate space below.

A Proposal Evaluation Team, made up of three or more State employees, will independently evaluate and score the response to each item. Each evaluator will use the following whole number, raw point scale for scoring each item:

0 = little value 1 = poor 2 = fair 3 = satisfactory 4 = good 5 = excellent

The Solicitation Coordinator will multiply the Item Score by the associated Evaluation Factor (indicating the relative emphasis of the item in the overall evaluation). The resulting product will be the item’s Raw Weighted Score for purposes of calculating the section score as indicated.

RESPONDENT LEGAL ENTITY NAME:

Page #

(Respondent completes)

Item Ref.

Section C— Technical Qualifications, Experience & Approach Items

Item Score

Evaluation Factor

Raw Weighted

Score

17 C.1. Provide a narrative that illustrates the Respondent’s understanding of the State’s requirements and project schedule.

17-18 C.2. Provide a narrative that illustrates how the Respondent will complete the scope of services, accomplish required objectives, and meet the State’s project schedule.

18 C.3. Provide a narrative that illustrates how the Respondent will manage the project, ensure completion of the scope of services, and accomplish required objectives within the State’s project schedule.

18 C.4. Provide a sample analysis from a similar project. 20

The Solicitation Coordinator will use this sum and the formula below to calculate the section score. All calculations will use and result in numbers rounded to two

(2) places to the right of the decimal point.

Total Raw Weighted Score:

(sum of Raw Weighted Scores above)

Total Raw Weighted Score X 45

(maximum possible score)

= SCORE:

Maximum Possible Raw Weighted Score (i.e., 5 x the sum of item weights above)

State Use – Evaluator Identification:

State Use – Solicitation Coordinator Signature, Printed Name & Date:

STATE OF TENNESSEE

TREASURY DEPARTMENT

PROPOSAL

RFP # 30901-48421

TECHNICAL PROPOSAL & EVALUATION GUIDE

SECTION A

A.1 – CERTIFICATIONS AND ASSURANCES

Attached on page 2 is the Proposal Statement of Certifications and Assurances (RFP Attachment 6.1).

A.2 – CONFLICT OF INTEREST

BYNAC is not aware of any potential conflict of interest with the State.

A.3 – BANK REFERENCE

Attached on page 3 is a current bank reference indicating BYNAC’s business relationship with Fulton Bank is in positive standing.

A.4 – CREDIT REFERENCES

Attached are two vendor credit references on pages 4 and 5.

A.5 – CREDIT RATING

Documentation of a positive credit rating with Dun and Bradstreet is shown on page 6.

1 Response to RFP #30901-48421

RFP ATTACHMENT 6.1.

RFP # 30901-48421 STATEMENT OF CERTIFICATIONS AND ASSURANCES

The Respondent must sign and complete the Statement of Certifications and Assurances below as required, and it must be included in the Technical Response (as required by RFP Attachment 6.2., Technical Response & Evaluation Guide, Section A, Item A.1.). An electronic or facsimile signature, as applicable, is acceptable.

The Respondent does, hereby, expressly affirm, declare, confirm, certify, and assure ALL of the following:

1. The Respondent will comply with all of the provisions and requirements of the RFP.

2. The Respondent will provide all services as defined in the Scope of the RFP Attachment 6.6., Pro Forma Contract for the total Contract Term.

3. The Respondent, except as otherwise provided in this RFP, accepts and agrees to all terms and conditions set out in the RFP Attachment 6.6., Pro Forma Contract.

4. The Respondent acknowledges and agrees that a contract resulting from the RFP shall incorporate, by reference, all proposal responses as a part of the Contract.

5. The Respondent will comply with:

(a) the laws of the State of Tennessee;

(b) Title VI of the federal Civil Rights Act of 1964;

(c) Title IX of the federal Education Amendments Act of 1972;

(d) the Equal Employment Opportunity Act and the regulations issued there under by the federal government; and,

(e) the Americans with Disabilities Act of 1990 and the regulations issued there under by the federal government.

6. To the knowledge of the undersigned, the information detailed within the response submitted to this RFP is accurate.

7. The response submitted to this RFP was independently prepared, without collusion, under penalty of perjury.

8. No amount shall be paid directly or indirectly to an employee or official of the State of Tennessee as wages, compensation, or gifts in exchange for acting as an officer, agent, employee, subcontractor, or consultant to the Respondent in connection with this RFP or any resulting contract.

9. Both the Technical Response and the Cost Proposal submitted in response to this RFP shall remain valid for at least 120 days subsequent to the date of the Cost Proposal opening and thereafter in accordance with any contract pursuant to the RFP.

10. The Respondent affirms the following statement, as required by the Iran Divestment Act Tenn. Code Ann. § 12-12- 111: “By submission of this bid, each bidder and each person signing on behalf of any bidder certifies, and in the case of a joint bid each party thereto certifies as to its own organization, under penalty of perjury, that to the best of its knowledge and belief that each bidder is not on the list created pursuant to §12-12-106.” For reference purposes, the list is currently available online at: https://www.tn.gov/generalservices/procurement/central-procurement-office--cpo- /library-/public-information-library.html.

By signing this Statement of Certifications and Assurances, below, the signatory also certifies legal authority to bind the proposing entity to the provisions of this RFP and any contract awarded pursuant to it. If the signatory is not the Respondent (if an individual) or the Respondent’s company President or Chief Executive Officer, this document must attach evidence showing the individual’s authority to bind the Respondent.

DO NOT SIGN THIS DOCUMENT IF YOU ARE NOT LEGALLY AUTHORIZED TO BIND THE RESPONDENT

SIGNATURE:

PRINTED NAME & TITLE:

DATE:

RESPONDENT LEGAL ENTITY

NAME:

2 Response to RFP #30901-48421

Mary Jean King, CEO

7/6/21

By the Numbers Actuarial Consulting, Inc.

To Whom it may concern:

By the Numbers Actuarial Consulting has been a client of ours since 2013 and has and still remains a quality client in good standing with our agency.

Osie R. Casey, CISR Insurance Services, LLC

USI Insurance Services Telephone: 925‐418‐6282 Fax: 610‐537‐2243 Osie.Casey@usi.com | www.usi.com

USI is now USI.com!

-./01-+234+025637-82941:+-;<=>3/.?2371-63.1++@A@ABACBDE

4>FGHIJ>H;K+8=>LG;M<=8>=;>HMGF>41.N6314-63.1++@A@EBAOBE@

PGHQH;GQF+-M=>RR8>=;>HMGF>3/.?2371-63.1++@A@ABACBDE

-JSSFG>=+1TQFJQMG<H+0GRU0QMGHV6W80/X14-63.1++@A@EBAEBEE

,YZ[\]Z+̂_̀a bc\+d+eZYfg[Z]][+̂_̀a hijkl̀+m̂na+opq̂arklôp+solt+uvhvwvxy+zkpk{̀a 0>S<=M+QR+<|}+~�v~�v�~���akj̀�lm�̀����2LL=>RR}�K+5�>+3J��>=R�mk�'�% �) + $)'b��'*%)*"����+�̂nplam+��n�+ua�+�àplŝ ĵ�+�w�+��~���+hpol̀j+xlkl̀�

./W8239+80/P6N1+� �4B�B3B-��v��~v�����JRGH>RR+P<=��̂aîaklôp/�H>=R�GSŵ l+in��o��m+lakj̀j WQGFGHV+2LL=>RRhpol̀j+xlkl̀�5>F>S�<H>�����+���v~��� >�RGM>sss¡�mpk�¡�̂r

2HHJQF+-QF>Rhx¢+��~�~~~1�SF<K>>R+�+��+t̀à�2V>+£9>Q=+-MQ=M>L¤��+������ �

!"#$%&'()*+$!)#$*&,$(-&."/0/$1*)*%")2$#,),0'0*,#$,&$3456

789:;$<=>?@>A8BC)-+$D0)*$E"*FG$H!"0I$JK0%L,".0$MN%0-O>?:$PQ$RST>?:TTC)*)F0'0*,$%&*#L2,"*F$#0-."%0#

5)*U-L(,%"0# V WDL/F'0*,# V WX"0*# V WYL",# V WZHH V W

O[\]O$[̂[7_̀$abcdefg hide$jklef mngf$opqdr s>tu:Tv$<8Tv$wS:ZYx$V_y]w[$<]z{[7_̀$a

|"F!0#,$}&~$M~"*F���$� &,)2$ -)/0$JK(0-"0*%0#�X)-F0#,$|"F!$H-0/",���$��� �.0-)F0$|"F!$H-0/",���7[ỳs�<$a !"#$%&'()*+$"#$)$\BP�8B$�Bv>98v:�$wP9:Tv>@$�Bv>98v:�$<8=:?v�s:8;�S8=v:=T65+$ !0$}L'�0-#Z*",0/$Y,),0#3WZW}WY$}L'�0-$��W��VW���� &,)2$C0'�0-#$"*$�)'"2+$ -00$W$�YL�#"/")-"0#V 5-)*%!0#���7]7��]O$�̂ [ŷ �[�$a ��${P?vu$̀S998=��7���y�[̀$a _Pv8B$?S9�:=$PQ$�?�S>=>:T�$a �?>�S:$�STvP9:=T�$

!"#$%&$'$!$()$*%+,--%.$%"##$#%*/.0$)1%12%3/(%4%5!"#*1!$$1%6$!,7)"1,2(%"(#%"))$81"()$9%3/(%4%5!"#*1!$$1%)"((21:/"!"(1$$%1;"1%1!"#$%!$'$!$()$*%+,--%.$%"))$81$#%2!%1;"1%"))$81$#%1!"#$%!$'$!$()$*%+,--%,<8")1%=2/!%./*,($**%)!$#,1%7-$9>-$"*$%*$$%;118*?@@+++9#"(#.9)2<@:-2**"!=@1!"#$A!$'$!$()$*@%'2!%$-,:,.,-,1=B%8!2)$**%"(#%21;$!%,('2!<"1,2(%!$:"!#,(:% !"#$&$'$!$()$*9C

D3/(%4%5!"#*1!$$1B%E()9%FGFH9%I--%!,:;1*%!$*$!6$#>!,6")=%>2-,)=%J $!<*%2'%K*$

PROPOSAL

RFP # 30901-48421

TECHNICAL PROPOSAL & EVALUATION GUIDE

SECTION B

B.1 – CONTACT INFORMATION

Please contact the following individual regarding this proposal:

Mary Jean King, FCAS, CERA, MAAA Principal and Consulting Actuary mking@bynac.com By the Numbers Actuarial Consulting, Inc.

118 Warfield Road Cherry Hill, NJ 08034

(856) 428-5961

(615) 369-0754 fax

B.2 – FORM OF BUSINESS

By the Numbers Actuarial Consulting, Inc. (legal name) is a corporation domiciled in Tennessee.

B.3 – YEARS IN BUSINESS

Incorporated in 1999, BYNAC has been in business 22 years.

B.4 – YEARS PERFORMING SERVICES

BYNAC has provided the types of services required by this RFP since its inception or 22 years.

BYNAC’s employees who will perform the services under the RFP have been performing these types of services for over 30 years.

B.5 – ORGANIZATIONAL STRUCTURE

BYNAC currently has six employees operating from four offices. Lisa Dennison and Katie Wilson work from the main office in Brentwood, Tennessee. The proximity of BYNAC’s location to the State is ideal since BYNAC can meet with the State on a moment’s notice. Mary Jean King, Elizabeth Long, Maria Mahon and Anya Hnateyko operate from satellite offices in Cherry Hill, New Jersey; Titusville, New Jersey; and Bellevue, Washington; respectively. BYNAC’s client base is 200 individual and group self-insured programs in 35 states, Bermuda, and the Cayman Islands. Eighty percent of our revenue is derived from actuarial consulting for workers compensation.

B.6 – MERGERS, ACQUISITIONS, OR SALES

The corporation had a change in ownership effective 1/1/20. By the Numbers Actuarial Consulting redeemed the stocks of majority owner Lisa Dennison and three other minority owners leaving Mary Jean King and Elizabeth Long as the sole owners with 50% shares each. Mary Jean King is CEO and Elizabeth Long is CFO of the corporation.

B.7 – FELONY CONVICTIONS

Neither BYNAC nor any of its employees, agents, independent contractors, or subcontractors have been convicted of, pled guilty to, or pled nolo contendere to any felony.

9 Response to RFP #30901-48421

B.8 – BANKRUPTCY

BYNAC has never filed or had filed against it any bankruptcy or insolvency proceeding, whether voluntary or involuntary, or undergone the appointment of a receiver, trustee, or assignee for the benefit of creditors.

B.9 – PENDING LITIGATION

There is no pending litigation against BYNAC.

B.10 – SEC INVESTIGATIONS

There have never been any Securities Exchange Commission investigations involving BYNAC.

B.11 – ABILITY TO DELIVER SERVICES

BYNAC’s team has five credentialed actuaries: four Fellows of the Casualty Actuarial Society (CAS) and one Associate of the CAS. Three of these credentialed actuaries have over 30 years’ experience with workers compensation rate-making and will provide unique insight into the NCCI loss cost filing.

B.12 – PROJECT TEAM

BYNAC’s proposed project team consists of Mary Jean King, FCAS, CERA, MAAA, Katie Wilson, FCAS, MAAA, and Elizabeth Long, ACAS, MAAA. Only credentialed actuaries will be assigned to the project providing the State the highest caliber of actuaries available. BYNAC’s project team organizational chart is shown below.

B.13 – PERSONNEL ROSTER

Shown below is the personnel roster of the people who will be assigned to perform the duties or services under the contract. Resumes are attached in pages 13 through 15.

Mary Jean King, FCAS, CERA, MAAA or Katie Wilson, FCAS, MAAA Review and Analysis of Loss Cost Filing and Preparation of Actuarial Report 30 hours Mary Jean King, FCAS, CERA, MAAA or Katie Wilson, FCAS, MAAA

Peer Review of Report 10 hours Elizabeth Long, ACAS, MAAA

Peer Review and Proofing of Report 10 hours Mary Jean King, FCAS, CERA, MAAA or Katie Wilson, FCAS, MAAA

Presentation to Advisory Council and Attending NCCI meetings 5 hours

Principal and Consulting Actuary

Katie Wilson, FCAS, MAAA

Vice President and Consulting Actuary

Elizabeth Long, ACAS, MAAA

10 Response to RFP #30901-48421

Mary Jean King

FCAS, CERA, MAAA

Contact Information 118 Warfield Rd Cherry Hill, NJ 08034 www.bynac.com

Direct: (856) 428‐5961 Fax: (856) 428‐5962 Email: mking@bynac.com

Education Lafayette College A.B. Mathematics

Certifications Fellow of the Casualty Actuarial Society

(FCAS)

Member of the American Academy of Actuaries (MAAA)

Chartered Enterprise Risk Analyst

(CERA)

Mary Jean King joined By the Numbers Actuarial Consulting, Inc. in 2006. Ms. King became Senior Vice President in 2014 from which point she has had an active role in the management of the company. As Senior Vice President, she participated in strategic planning, supervised staff, and worked on BYNAC’s marketing. In 2020 she became a principal owner of the company. As Principal she looks forward to leading BYNAC in its continued dedication to communication, professionalism, and value.

BYNAC’s client‐centered approach allows Ms. King to work directly with self‐insured groups to meet all their actuarial needs. Her expertise includes assessing the needed loss and loss adjustment expense reserves for financial statement reporting and performing funding adequacy analysis. Her focus has been on county, public utility, and school district workers compensation and multiple line groups.

In 2015 Ms. King was awarded the Chartered Enterprise Risk Analyst (CERA) qualification after participating in the Casualty Actuarial Society’s Enterprise Risk Management and Modeling seminar and passing the Enterprise Risk Management Specialist Technical exam of the Institute and Faculty of Actuaries (UK). The CERA applies both qualitative and quantitative insights to risk management and provides a 360‐degree view of an organization’s risk profile.

Before joining BYNAC, Ms. King worked in the individual risk rating and commercial lines pricing areas of two major property and casualty insurance companies. She gained over fifteen years’ experience in the insurance company setting. In that capacity, she was active in special projects including cash flow modeling, quantifying the variability of reserve estimates, and mass tort reserve analysis, in addition to managing a team responsible for all commercial lines rating.

11 Response to RFP #30901-48421

Elizabeth Long

ACAS, MAAA

Principal & Consulting Actuary

Contact Information 9 Forrest Blend Drive Titusville, NJ 08560 www.bynac.com

Direct: (609) 474‐0508 Email: elong@bynac.com

Education Drexel University B.S. Mathematics

Certifications Associate of the Casualty Actuarial Society (ACAS)

Member of the American Academy of Actuaries (MAAA)

Liz Long joined By the Numbers Actuarial Consulting, Inc. in July 2001 and currently holds the title of Principal and Consulting Actuary for the company. Ms. Long provides actuarial support to various self‐insured groups. Her work includes annual and quarterly reserve analyses as well as annual premium reports which help determine the adequacy of the premiums collected by the groups. Ms. Long assists clients with workers compensation, liability, and property coverages. Ms. Long works with a reinsurer to annually review and update the rates charged for auto liability, general liability, law enforcement liability, public official liability, and workers compensation coverages offered by the reinsurer to various county programs throughout the country. Ms. Long reviews the pricing for the higher excess layers offered by the reinsurer on an individual member basis.

Ms. Long started her actuarial career in June of 1986 as an actuarial analyst for a small reinsurance company. While there, she was responsible for pricing and reserving for the treaty reinsurance unit. Ms. Long then worked for a large insurance company providing reserve analyses for ocean marine, commercial umbrella, commercial auto, and commercial multi‐peril lines of business. Ms. Long worked for the large account pricing unit of another large property and casualty insurance company. She supported various regional underwriting units in all pricing and reserving functions and managed the actuaries assigned to these regional units. Ms.

Long moved to the ceded reinsurance department of the company where she was in charge of the actuarial unit that supported the ceded reinsurance functions. Her responsibilities included pricing ceded reinsurance treaties and providing catastrophe modeling support for the property ceded reinsurance unit. She was the primary actuarial contact for brokers and reinsurers during the treaty renewal process.

Ms. Long has passed two of the three remaining exams required for Fellowship in the Casualty Actuarial Society.

12 Response to RFP #30901-48421

Katie Wilson

FCAS, MAAA

Vice President and Consulting Actuary

Contact Information 4201 Colorado Avenue Nashville, TN 37209 www.bynac.com

Direct: (615) 403‐5369 Fax: (615) 410‐2113 Email: kwilson@bynac.com

Education Vanderbilt University B.S. Physics & Mathematics

Certifications Fellow of the Casualty Actuarial Society

(FCAS)

Member of the American Academy of Actuaries (MAAA)

Katie Wilson is Vice President and Consulting Actuary for By the Numbers Actuarial Consulting, Inc. Ms. Wilson works directly with more than 30 self‐insured entities annually to provide them with the actuarial services they require. These services include both annual and semi‐annual analyses of required reserves for financial statement reporting as well as funding analyses of the adequacy of rates and premium structure. Among her clients are the workers compensation programs of a number of counties (both individuals and groups), school districts, public utilities, and transit providers. Ms. Wilson also provides analysis of other coverages including various liability and property damage exposures. She strives to communicate her findings in ways that are clearly understandable and accessible to her clients so as to facilitate their decision making process.

Ms. Wilson has been with By the Numbers Actuarial Consulting since January of 2007.

In addition to her actuarial duties, she provides technological support to the company, including maintenance of BYNAC’s web hosting, email, and digital archival services. In that capacity, she maintains and updates the website as needed using HTML and JavaScript.

Ms. Wilson has 15 years of experience in actuarial consulting. During that time she has succeeded in obtaining her Associateship (2013) and Fellowship (2016) in the Casualty Actuarial Society.

13 Response to RFP #30901-48421

B.14 – SUBCONTRACTORS

BYNAC will not use subcontractors for this work.

B.15 – COMMITMENT TO DIVERSITY

BYNAC is committed to diversity as represented by its business strategy, business relationships, and workforce.

a) Due to the nature of consulting, BYNAC has few vendors. Our vendors consist of overnight carriers, printers, and communication companies. Due to the size of these vendors (FedEx Kinko’s, AT&T, etc.) and the small amount of business we provide them, it is not practical to have programs and procedures to foster diversity in our relationship with them.

b) BYNAC has no contracts with any of our vendors.

c) By the Numbers Actuarial Consulting, Inc. is certified by the State of Tennessee Department of General Services Governor’s Office of Diversity Business Enterprise as a Women Business Enterprise (WBE). Attached on page 18 is a copy of our certificate (#051011-02).

i. As a WBE, 100% is the estimated level of participation by minorities, women, and persons with a handicap or disability and small business enterprises in a contract awarded to BYNAC.

ii. There are no anticipated contracts to describe.

iii. BYNAC will not use subcontractors.

d) Below is a graph illustrating BYNAC’s employees by gender, ethnicity, and disability.

Caucasion Other Disabled

Female 100% 0% 0%

Male 0% 0% 0%

B.16 – CURRENT STATE CONTRACTS

BYNAC is the incumbent on the expiring contract that is the subject of this RFP.

B.17 – REFERENCES

Five customer references have been requested: two large accounts and three completed projects. The following clients were asked to complete the reference questionnaire provided in the RFP packet and submit to Dawn Rochelle at dawn.rochelle@tn.gov. The first two are large accounts currently serviced by BYNAC and the last three are completed projects.

1. Mr. Bob Wormsley – Local Government Insurance Pool

– client since 2012.

2. Dr. Phillip Wallace– Tennessee Risk Management Trust

– client since 2000.

14 Response to RFP #30901-48421

3. Mr. Johnnie Miller – Utah Counties Insurance Pool

– client since 2003.

4. Mr. Al Gapinski – NHRMA Mutual Insurance Company

– client since 1999.

5. Mr. Philip E. Bell – County Reinsurance, Limited

- client since 1999.

B.18 – SUSPENSION, CONVICTION, OR INDICTED

BYNAC:

(a) is not presently debarred, suspended, proposed for debarment, or voluntarily excluded from covered transactions by any federal or state department or agency;

(b) has not within the past three (3) years, been convicted of, or had a civil judgment rendered against the contracting party from commission of fraud, or a criminal offence in connection with obtaining, attempting to obtain, or performing a public (federal, state, or local) transaction or grant under a public transaction; violation of federal or state antitrust statutes or commission of embezzlement, theft, forgery, bribery, falsification or destruction of records, making false statements, or receiving stolen property;

(c) is not presently indicted or otherwise criminally or civilly charged by a government entity (federal, state, or local) with commission of any of the offenses detailed above;

(d) has not within a three (3) year period preceding the contract had one or more public transactions (federal, state, or local) terminated for cause or default.

15 Response to RFP #30901-48421

Certification Number: 051011-02 Industry: Actuarial Services

By The Numbers Actuarial Consulting, Inc. DBA BYNAC

May 10, 2022

PROPOSAL

RFP # 30901-31517

TECHNICAL PROPOSAL & EVALUATION GUIDE

SECTION C

C.1 – UNDERSTANDING OF REQUIREMENTS AND SCHEDULE

The Advisory Council on Workers’ Compensation (ACWC) requires actuarial consulting services featuring an evaluation of the annual National Council on Compensation Insurance, Inc. (NCCI) Loss Cost Rate Filing for the voluntary workers compensation insurance market.

In order to expedite the review process, BYNAC has worked with NCCI to establish a preliminary data request that is provided at the same time as the filing. BYNAC will attend the initial NCCI presentation to the ACWC either in person or virtually. BYNAC will review the filing and data used by NCCI in arriving at the proposed loss costs. The appropriateness of NCCI’s methodology and selections will be evaluated including: company data included and excluded, possible sources of bias, breadth of coverage of the data, years of experience, loss development factors including tail development factors, trend factors, benefit level changes, large losses, and loss adjustment expense.

BYNAC will highlight areas of agreement and disagreement with the NCCI approaches. We will insure that any current issues and their impact on the loss cost filing are appropriately addressed including the impact of the economy and COVID-19.

BYNAC will issue a draft report to the ACWC in compliance with the State timeline usually the first week of October. BYNAC will participate in the pre-meeting teleconference where differences in actuarial opinion will be discussed in a respectful manner to arrive at as much consensus as possible prior to the meeting. During the current contract period BYNAC consistently met target dates for the draft actuarial report.

The report will be presented to the ACWC. We will provide the requested number of copies of the written report for the meeting or as otherwise directed by the ACWC. We will attend ACWC meetings at which the NCCI makes any presentation concerning the annual loss costs filing. We will make an oral presentation on a date selected by the ACWC. This presentation will review our findings. We will be available to respond to questions from members of the ACWC regarding the written or oral reports, the NCCI filing, or other related matter. The oral presentation will include handouts with tables and graphics to illustrate the key findings of our analysis.

C.2 – PROJECT SCOPE

Upon receipt of the filing, we will proceed with a thorough analysis of the data. We will look at the selection of the policy year or years NCCI selected as the basis of their analysis, the inclusion or exclusion of specific companies, basis of the trend factors, selection of the loss development factors, and calculation of the benefit level changes. Benefit level change factors quantify the impact of changes in the Tennessee workers compensation statutes on future claims. The loss adjustment expense will also be evaluated.

17 Response to RFP #30901-48421

BYNAC will review the changes requested by NCCI in the past five years and see if these indications have changed based on more recent data and trends. This information will allow BYNAC to identify potential biases in the NCCI methodology and selections. In addition, BYNAC will evaluate changes to NCCI’s countrywide ratemaking methodology for their appropriateness in Tennessee. Past reviews by BYNAC have included an evaluation of the change in credibility weighting and the need to incorporate paid loss development information. Emerging issues such as the COVID-19 pandemic are always considered as part of BYNAC’s analysis.

Once all the data, selections, and methodologies have been reviewed, BYNAC will prepare a report summarizing our findings. The report will include each of the issues described above in addition to other issues uncovered and whether we agree or disagree with NCCI’s approach. If we disagree, we will explain our difference of opinion and quantify the impact on the overall indication.

We will attend all meetings at which NCCI makes a presentation concerning the loss cost filing in addition to our oral presentation to the ACWC. We will be available to answer questions from members of the ACWC regarding the filing, report, presentation, or any other related matter.

C.3 – PROJECT MANAGEMENT

Communication and experience are the keys to providing the services required under this contract.

Following is how BYNAC will ensure communication:

Prompt response to State and ACWC email and phone communications.

Requesting feedback from client regarding issues that may arise and status of project.

Mary Jean King or Katie Wilson will make the oral presentation to the ACWC. Through tables and graphics, we clearly communicate the results of the analysis. BYNAC has made over 300 presentations to clients. Clients often remark that they are understanding the actuarial presentation for the first time because BYNAC’s presentations provide a clear understanding of the overall findings of the report, are concise, and the graphics help illustrate key points.

BYNAC will have two Fellows of the Casualty Actuarial Society (CAS) and an Associate of the CAS working on the project. Mary Jean King has over 30 years of workers compensation ratemaking experience. This will benefit the State since:

High level actuaries have the expertise and experience to step back and review the filing in a broader context.

A seasoned credentialed actuary gains the respect of the NCCI’s team of actuaries who prepared and presented the filing.

The three actuaries with different experience and backgrounds have a diverse basis to provide insight into the filing and ensure the reasonableness of the findings.

C.4 – SAMPLE ANALYSIS

Attached is a sample of the BYNAC Tennessee filing review. Also provided are the exhibits used in the 10/16/20 ACWC meeting presentation. BYNAC has the technical capability necessary to provide the services sought under this RFP.

18 Response to RFP #30901-48421

Principal & Consulting Actuary 118 Warfield Road Cherry Hill, NJ 08034 P:856.428.5961 mking@bynac.com

TENNESSEE

ADVISORY COUNCIL ON

WORKERS' COMPENSATION

ACTUARIAL REPORT

Review of NCCI Loss Cost Filing

Effective 3/1/21

10/14/20

October 14, 2020

Mr. David H. Lillard, Jr., Tennessee State Treasurer Chairman, Advisory Council on Workers' Compensation Andrew Jackson Building, 15th Floor 502 Deaderick Street Nashville, TN 37243-0248

Dear Mr. Lillard:

Enclosed is the actuarial report prepared for the Tennessee Advisory Council on Workers’ Compensation. This report contains our review of the National Council on Compensation Insurance, Inc. (NCCI) filing effective 3/1/21.

The estimates and analysis contained in this report are based on data provided by NCCI including the filing memorandum dated 8/27/20 and the answers to questions concerning the filing provided by NCCI. Any discrepancy in the completeness, interpretation, or accuracy of the information used may require a revision to this report.

If you have any questions, please contact us. It is a pleasure to be of service to the Advisory Council.

Sincerely, Elizabeth Long, ACAS, MAAA cc: Larry Scroggs, Administrator, Advisory Council on Workers' Compensation

TENNESSEE ADVISORY COUNCIL ON WORKERS’ COMPENSATION

ACTUARIAL REPORT

TABLE OF CONTENTS

PURPOSE

FINDINGS

OVERVIEW OF FILING

SUMMARY OF PROPOSED LOSS COST CHANGES

OTHER PROPOSED CHANGES

DATA

COVID-19

STATEWIDE INDICATION ANALYSIS

OVERVIEW

ANALYSIS OF METHODOLOGY

DEVELOPMENT

TREND

LOSS ADJUSTMENT EXPENSE

QUALIFICATIONS AND LIMITATIONS

CONSULTATION

APPENDICES

BYNAC RECOMMENDATIONS

CHANGES IN ESTIMATED ULTIMATE INCURRED LOSSES

ACTUARIAL REPORT

PURPOSE

By the Numbers Actuarial Consulting, Inc. (BYNAC) has been retained by the Tennessee

Advisory Council on Workers’ Compensation (ACWC) to prepare this actuarial report to present a professional analysis of the National Council on Compensation Insurance, Inc. (NCCI)

Tennessee Workers Compensation Voluntary Loss Costs and Rating Values and Assigned Risk

Rates and Rating Values filing effective 3/1/21. The basis of the analysis is the NCCI filing memorandum dated 8/27/20 and additional information provided by NCCI in support of the filing. BYNAC did not audit the premium or loss data underlying the NCCI filing, nor did we verify the accuracy of NCCI’s detail calculations. An analysis of the classification changes and update to the retrospective rating plan parameters is beyond the scope of this report.

The following items will be addressed in this report:

An analysis of NCCI’s methodology in arriving at its calculation of the proposed change in loss costs and loss adjustment expense.

An examination of the appropriateness of the methodology used by NCCI in its selection of estimates employed to arrive at ultimate loss cost for past and forecast periods.

An analysis of NCCI’s selection of trend and loss adjustment expense allowance.

FINDINGS

Based on BYNAC’s review of the NCCI filing, the proposed overall voluntary loss cost level change of -9.2% effective 3/1/21 has been reasonably calculated in accordance with actuarial standards of practice.

BYNAC reviewed paid and paid + case development and experience for policy years 2014 through 2016 in addition to the policy years underlying the filing of 2017 and 2018 in order to test the assumptions made by NCCI in selecting the data and development methods for review.

Changes in estimated ultimate incurred losses based on both NCCI and BYNAC selected loss development factors are shown in Appendix B. The large decreases shown in this exhibit indicate more volatility than would normally be expected with this volume of data. It is

BYNAC’s opinion that this supports the need for a longer experience period for the filing indication.

BYNAC also reviewed the selection of trend. The NCCI selected trend factor is a change from

0.935 to 0.940 for indemnity. There is no change to the NCCI selected trend factor for medical of

0.955. BYNAC is in agreement with the NCCI trend selections.

BYNAC reviewed historical information for defense and cost containment expense (DCCE) and adjusting and other expense (AOE). BYNAC is in agreement with the NCCI LAE selections.

The overall indication using BYNAC’s experience and trend change and LAE selection is -8.4%

(Appendix A).

OVERVIEW OF FILING

SUMMARY OF PROPOSED LOSS COST CHANGES

NCCI is proposing a decrease in loss costs based on premium and loss experience effective

3/1/21. The breakdown of the proposed changes by industry groups is as follows:

Loss Cost

Industry Change

Group Eff 3/1/21

Manufacturing ‐9.7%

Contracting ‐10.3%

Office & Clerical ‐5.7%

Goods & Services ‐8.9%

Miscellaneous ‐9.6%

Overall ‐9.2%

OTHER PROPOSED CHANGES

In addition to the loss cost changes, NCCI has included in the filing an update to the retrospective rating plan parameters and various class code changes. There were no significant changes to methodology in this filing.

The statewide indication includes an increase of +0.5% to overall workers compensation system costs for the estimated impact of the medical fee schedule update that was effective 1/1/20.

BYNAC believes that these changes have been reasonably calculated in a manner similar to past filings.

DATA

The data used for the statewide indication is premium and losses for policy years 2017 and 2018, evaluated as of 12/31/19. The policy years selected are the most recent available. Combined voluntary and assigned risk data are used. Assigned risk represents approximately 12.0% of the policy year 2017 market share and 12.3% of 2018.