Information technology consultants to assist with the examination of captive insurance companies

The Hawaii Department of Commerce and Consumer Affairs, Hawaii Insurance Division, Captive Insurance Branch, is seeking professional information technology consultants to assist with examinations of captive insurance companies, including risk retention captives, during Fiscal Year 2026. The scope of work encompasses statutory and limited scope examinations conducted in accordance with Hawaii Revised Statutes and NAIC guidelines, with additional related projects as needed to support the Insurance Commissioner’s oversight functions. The contract size is estimated to range between 500,000 and 2,000,000 dollars, and the work will be performed entirely within Hawaii. Interested firms must demonstrate proven experience in IT services for insurance companies, particularly in conducting IT reviews aligned with the NAIC Financial Condition Examiners Handbook, evaluating controls, reviewing policies and procedures, and developing organizational or process flow charts. Applicants are required to submit a letter of interest, detailed resumes highlighting relevant experience, client references, and a professional fee schedule by July 25, 2025. Selection criteria prioritize relevant experience and qualifications, past performance on similar projects, capacity to meet deadlines, and other relevant factors as determined by the selection committee. The contract aims to support the examination process through specialized IT services, ensuring compliance with applicable laws and regulations, and enhancing the Department’s ability to oversee captive insurance entities effectively. All proposals must be submitted electronically in PDF format, and the work will be coordinated through the Department’s designated contact, Deputy Commissioner Andrew Kurata.