My Florida Marketplace #SS26-2001

Single Source Procurement for Insurance Rate Comparison Services (Florida Citizens Property Insurance Corporation)

Citizens Property Insurance Corporation, Florida's state-backed insurer, is pursuing a single source procurement for Competitive Rate Comparison Services to support statutory insurance rate filings. - Government Buyer: - Citizens Property Insurance Corporation - Office: Corporate Analytics - Actuarial Data Science - OEM/Vendor: - i4 Integrated Services (proprietary provider of insurance rate comparison analytics) - Services Requested: - Competitive Rate Comparison Services for Florida property insurance market - Analysis and reporting on rate competitiveness for HO-3, DP-3, and HO-6 lines of business - Accurate rate calculations and comparisons by insurer and line of business - Coverage of at least 50% of the Florida property and casualty personal residential insurers market by total insured value - Annual updates to support statutory rate filing requirements - Use of proprietary rating models and database for policy-level premium simulations - Notable Requirements: - Single source justification based on unique, proprietary capabilities of i4 Integrated Services - Services must enable precise, policy-level premium simulations and market-wide comparisons not available from other vendors - Estimated Contract Value: - Approximately $1,550,000 over a 60-month (5-year) term

Description

This solicitation is for Competitive Rate Comparison Services to analyze and report on Citizens Property Insurance Corporation's rate competitiveness in the Florida property insurance market. The services involve accurate rate calculations and comparisons for HO-3, DP-3, and HO-6 lines of business, covering at least 50% of the Florida property and casualty personal residential insurers market by total insured value. The services must provide rate comparisons by insurer and line of business and be updated annually. The term of the contract is 60 months, and the estimated contract value is approximately $1,550,000. The procurement is a single source purchase from i4 Integrated Services due to their specialized analytical capabilities.

View original listing