Actuarial Services

The University of Texas System has issued Request for Proposal (RFP) 720-2518 seeking comprehensive actuarial services for multiple self-funded insurance plans, including Workers' Compensation, Unemployment Compensation, Directors & Officers/Employment Practices Liability, Cyber Liability, Comprehensive Property Protection, Rolling Owner Controlled Insurance Program, and Auto Property & Liability Plan. The solicitation was released on August 25, 2025, with proposals due on October 1, 2025, at 2:30 p.m. CDT, and includes a virtual pre-proposal conference scheduled for September 11, 2025. Proposers will be evaluated on three primary criteria: cost (20%), proposer experience and qualifications (40%), and approach to work (20%), with the University anticipating selecting the proposal offering the best overall value. Required deliverables include annual loss reserve analyses, rate studies, fund balance reviews, and ad hoc consulting services aligned with the University's fiscal year (September 1 through August 31). The anticipated contract term is five years with a potential one-year renewal option, and proposers must submit comprehensive documentation through the Bonfire digital portal, including an Execution of Offer, Pricing and Delivery Schedule, Proposer's General Questionnaire, and other specified documents.

The RFP includes a significant Historically Underutilized Businesses (HUB) subcontracting participation goal of 26%, requiring proposers to submit a detailed HUB Subcontracting Plan. Potential contractors must meet specific system requirements for submission, including using Microsoft Edge, Google Chrome, or Mozilla Firefox browsers with JavaScript and cookies enabled. The total contract amount is capped at $2,000,000, with payment structured based on work fees and monthly invoices processed within 21 days of receipt. Contractors will be required to maintain specific insurance coverage, including professional liability, cyber liability, and general commercial insurance with defined minimum coverage levels. Technical support for the submission process is available through Bonfire at Support@GoBonfire.com, and the solicitation is specifically coded under NIGP Commodity Code 94612 for Actuarial Services. The contract includes provisions for compliance with Texas state regulations and ethical standards, with any contract amount exceeding the $2,000,000 cap requiring approval from the University of Texas System Board of Regents.