Attachment 7 - Technical Capability Questionnire.pdf
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- Attached to
- Group Life Insurance
- Solicitation number
- 2031JW21Q00092
About this file
This document includes a technical capability questionnaire and details of a federal contract opportunity for group life insurance administration services. The Office of the Comptroller of the Currency (OCC) and Office of Financial Research (OFR) are seeking a contractor to underwrite and administer their group life insurance programs for active employees, retirees, and eligible dependents. The contractor will be responsible for underwriting, claims processing, customer service, enrollment, and other administrative functions for approximately 2,580 employees and 2,510 retirees. The current contractor, Metropolitan Life, has administered the program under a 5-year contract set to expire on June 30, 2021. Respondents to the solicitation should demonstrate their experience handling plans of similar size, describe their claims and appeals processes, and address other technical and operational questions pertaining to fulfilling the statement of work. The solicitation also provides details on plan benefits, eligibility, and current pricing and participation levels.
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ATTACHMENT 7
Technical Capability Questionnaire
RFQ: 2031JW21Q00092
1) Confirm your ability to provide all underwriting and administrative requirements in the
Statement of Work. Please thoroughly explain any areas where your company cannot meet a requirement or where your agreement is conditional.
2) Describe your company’s ability to administer the plan effectively based on your relevant experience handling similar type and size plans; the quality of your office, marketing, and claims personnel; and your locations and facilities.
3) Describe your company’s group life insurance claims settlement system in detail. Please include information on the average timeframe to complete a claim payment.
4) Describe in detail your current quality assurance program for death claim processing and payments including performance and turnaround time standards.
5) How are claim disputes handled? Please describe your appeals process.
6) How do you detect and investigate fraud?
7) Describe how your company proposes to manage installation of the Office of the
Comptroller of the Currency (OCC) Group Life Program, including enrollment procedures.
8) What is an acceptable remittance frequency for you? The OCC currently remits bi-weekly for active employees and monthly for retirees.
9) How is a deficit handled during an accounting period? Is it amortized over extended periods? If so, do you charge interest on the carryovers? How much?
10) Are you willing to provide firm fixed rates for Basic Life and Optional coverage for five years?
11) Please provide a detailed description of the methodology for setting renewal rates and indicate when such rates will be provided to OCC.
12) Describe the procedures that your company would follow in the event of termination of the contract. When will the final accounting be available? How soon after this date will your company refund any surpluses in the Premium Stabilization Rate (PSR) to the OCC or to the subsequent Insurance provider, if applicable.
13) Please identify the state that this contract will be taking SITUS. Please take into account some of the unusual features of the OCC Life Program, e.g. domestic partner coverage.
ATTACHMENT 7
Technical Capability Questionnaire
RFQ: 2031JW21Q00092
14) Describe your medical Evidence of Insurability (EOI) approval process. Does your company have the ability to allow employees to submit EOI information online? How will OCC be informed of application status?
15) Describe the cost to the OCC for conversion policies and how it is assessed. Provide a current premium chart for conversion policy. Is portability available as an option to conversion? If so, what qualifies a former employee for portability and is there a charge to OCC if a former employee elects this option?
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