FEMA/Federal Insurance Mitigation Administration (FIMA) National Flood Insurance Program (NFIP) Insurance Transformation Initiative Support Services

This purpose of this sources sought is for: 1) market research purposes for NFIP Insurance Transformation Initiative Support Services in the field of flood insurance for the National Flood Insurance Program (NFIP) within the Federal Insurance & Mitigation Administration (FIMA) under Federal Emergency Management Agency (FEMA) and 2) to invite interested vendors to an Industry day for the subject procurement.

The Federal Insurance and Mitigation Administration (FIMA) is a component of the Department of Homeland Security (DHS), Federal Emergency Management Agency (FEMA), which operates the Risk Management and Flood Insurance Directorates and the National Flood Insurance Program (NFIP).

FEMA's NFIP has been offering flood insurance coverage to homeowners, renters and businesses as protection against flood losses for almost fifty years. In return, local governments provide commitment to sound floodplain management and related flood disaster mitigation efforts. In addition to offering flood insurance, the duties of the NFIP include identifying communities' flood risks, mapping and publishing Flood Insurance Rate Maps of those risks, helping communities meet floodplain management requirements, and communicating the benefits of flood insurance protection so that more disaster survivors are reimbursed for flood damage through the insurance mechanism, rather than through Federal disaster assistance funds.

In light of recent events, FEMA identified the following service gaps within the NFIP's current flood risk rating approach: (1) policyholders didn't understand their flood risk and (2) the relationship between risk and rate are often inconsistent between structures with similar risk. Therefore, FIMA is redesigning and modernizing their current risk rating approach to address these service gaps and improve overall customer experience through the Risk Rating and Product Redesign Program.