Actuarial Services

The Texas Department of Insurance (TDI) is seeking a highly qualified actuarial services contractor through a best value procurement process for its Property and Casualty Actuarial Office and Enforcement Division. The Request for Proposals (RFP) 454-25-0124-32938-BJM solicits a vendor to provide comprehensive actuarial services including rate filings review, statistical report findings, expert testimony, special studies, data calls, and input on insurance matters. Contractors must be a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries, with a minimum of 15 years of insurance industry actuarial experience and demonstrated work with at least three similar entities. Key staff must possess a minimum of five years of actuarial experience. The initial contract term spans September 1, 2025, through August 31, 2027, with a potential three-year renewal option through August 31, 2030. Proposals are due by June 20, 2025, at 3:00 p.m. Central time, with an anticipated award date of August 7, 2025. The evaluation criteria include cost (25 points), qualifications and experience (35 points), and compliance with specifications (40 points), with additional considerations for past performance and proposal format.

The RFP does not explicitly mention specific set-aside designations or restrictions for disadvantaged enterprises. Pricing will be structured through hourly rates for both on-site and virtual meetings/assignments, with rates specified for the initial term (FY 2025 & FY 2026) and potential renewal term (FY 2027 & FY 2028). The total contract amount will be determined based on authorized services, and TDI explicitly states that it will not guarantee a minimum quantity or compensation. While no incumbent vendor is mentioned in the documentation, the solicitation indicates a clear expectation of sophisticated actuarial expertise and proven track record in insurance industry analysis. The contract appears to be a flexible, performance-based engagement that allows TDI to procure actuarial services on an as-needed basis, with compensation directly tied to the specific services rendered. Potential respondents should be prepared to demonstrate comprehensive actuarial capabilities and a deep understanding of Texas insurance regulations and market dynamics.