Joint Regent Actuarial Services for Motor Vehicle Self-Insurance Program

The University of Iowa, Iowa State University, and The University of Northern Iowa are seeking proposals for actuarial services to manage their motor vehicle self-insurance program. This joint solicitation, titled "Joint Regent Actuarial Services for Motor Vehicle Self-Insurance Program," aims to secure qualified vendors capable of providing comprehensive actuarial analysis and consulting to support the universities' insurance operations. The contract is expected to be valued between $50,000 and $200,000, with the primary point of contact being Chad Steffens at the University of Iowa. Interested suppliers are advised to submit their responses via the designated eBid system before the response deadline of December 20, 2024. The solicitation emphasizes the importance of ample preparation time given the extensive nature of the bid process. The procurement process involves a detailed review of proposals to ensure compliance with specifications and requirements related to actuarial services for the universities' motor vehicle insurance needs. The contract will support the universities' self-insurance efforts, likely involving risk assessment, premium calculations, and ongoing actuarial support. The solicitation is open to qualified vendors under the North American Industry Classification System code 524298, which pertains to all other insurance agencies, brokerages, and related activities. The process underscores the importance of timely and complete submissions, with the opportunity for vendors to engage through the provided contact information for any clarifications. Overall, this initiative reflects the universities' commitment to effective risk management and financial planning for their motor vehicle operations.