Insurance Company Reviews and Consulting Services

The Missouri Department of Commerce and Insurance has issued a solicitation for Insurance Company Reviews and Consulting Services under solicitation number STATE 0000000498SL, with responses due by August 14, 2026. The procurement seeks specialized consulting support to conduct financial examinations of insurers when internal resources are insufficient, covering areas such as accounting, auditing, investments, reinsurance, actuarial review, and information technology. Work must align with Missouri Revised Statutes and state regulations, with deliverables including a detailed methodology and work plan, sample engagement letters, past performance case studies, and final reports. The contract is structured as a firm fixed-price arrangement with up to four one-year optional renewals, requiring vendors to submit firm hourly rates for all personnel across the base period and each potential renewal term, with no substitution of key personnel permitted without prior state approval. All materials created under the contract become the property of the State of Missouri, and contractors must comply with extensive security and confidentiality obligations, including HIPAA requirements where protected health information is involved, with strict indemnification and breach reporting mandates in place. Evaluation of proposals will be based on a 200-point system, with the majority of points assigned to technical merit—150 points allocated to the organization’s experience and three past performance case studies—followed by cost at 40 points and MBE/WBE participation at 10 points. Additional bonus points are available for organizations affiliated with the Organization for the Blind, Sheltered Workshops, or Service-Disabled Veteran Business Enterprises. The award will be made on a trade-off basis, not based on lowest price, aiming for the lowest and best proposal that demonstrates technical excellence, past performance, compliance, and value. Contractors must be registered in MissouriBUYS, submit proposals exclusively through that portal in approved formats (Word, Excel, PDF) under 100MB, and include all required exhibits in sequence, with no additional attachments allowed outside of the mandated forms. Vendors must also certify their compliance with Missouri tax obligations, affirmative action programs, and anti-discrimination laws, and provide proof of E-Verify enrollment if employing ten or more staff. Payment will be processed via ACH-EFT using vendor records in MissouriBUYS, and contractors must adhere to state audit access requirements and ongoing reporting obligations, with key contractual terms surviving contract expiration.