Actuarial Consulting for State Office of Risk Management

The State of Colorado's Office of Risk Management is seeking actuarial consulting services through a competitive procurement process, with the contract opportunity targeting Denver County and Denver City jurisdictions. This solicitation, identified by the unique contract ID 687029340dfd32eb3e0f69ae, was posted on July 8, 2025, with proposals due by July 28, 2025. The primary objective is to secure comprehensive actuarial consulting expertise to support the state's risk management strategies and financial planning. Potential vendors must demonstrate advanced actuarial skills, including proficiency in risk assessment, statistical modeling, and insurance cost analysis. Qualified consultants will be expected to provide detailed risk evaluation reports, comprehensive financial projections, and strategic recommendations for mitigating potential state-level insurance and liability exposures. Evaluation criteria are likely to include the vendor's professional credentials, depth of actuarial experience, technical approach, and demonstrated ability to deliver precise and actionable risk management insights.

While specific set-aside designations are not explicitly detailed in the provided documentation, state and local contracts often prioritize minority-owned, women-owned, or disadvantaged business enterprises during the selection process. Potential respondents should be prepared to demonstrate compliance with Colorado's procurement regulations and potentially provide evidence of their business's classification. The contract's potential award value is not specified in the current documentation, suggesting that interested actuarial consulting firms will need to prepare competitive proposals that align with the state's budgetary constraints. Vendors should anticipate potential integration requirements with existing state risk management systems and be prepared to demonstrate technical compatibility and seamless operational capabilities. Interested consultants must carefully review all procurement guidelines and ensure their proposals comprehensively address the State Office of Risk Management's specific actuarial consulting needs.