Underwriting Policy Administration Software and Services

The New Jersey Schools Insurance Group (NJSIG) has issued Request for Proposal NJSIG-2024-006 for underwriting policy administration software and services, targeting a comprehensive solution for their complex insurance operations. The procurement seeks a web-based software platform capable of managing multiple insurance coverage types, including workers' compensation, general liability, automobile liability, and property insurance. Key software requirements include web portal applications, flexible rating mechanisms, comprehensive reporting capabilities, certificate of insurance generation, and broker commission tracking. The RFP evaluation will be weighted across technical criteria (40%), management criteria (30%), and cost criteria (30%), with a focus on proposer experience and software functionality. Critical procurement dates include RFP posting on July 1, 2024, questions due by July 12, 2024, answers posted by July 19, 2024, and proposals due on July 24, 2024 at 11:00 A.M. EST, with the NJSIG Board of Trustees scheduled to review and approve the contract on September 18, 2024.

The RFP does not explicitly mention specific set-aside designations or restrictions on respondent types. The procurement is designed for a vendor that can replace NJSIG's existing 15-year-old policy administration software system, which currently supports their 75 full-time employees, including 10 underwriting staff. Proposers are required to submit fee proposals for three contract durations: three, four, and five years, including one-time implementation costs and annual firm fixed fees. While specific budget ranges are not detailed in the provided documentation, the comprehensive nature of the software requirements suggests a substantial investment in a robust, enterprise-level policy administration platform. The selected vendor must demonstrate extensive software capabilities, including the ability to handle complex policy administration tasks for a self-insured risk pool, with particular emphasis on adaptability, reporting depth, and comprehensive insurance management functionality.