Actuarial Consulting for State Office of Risk Management
Title:  

Actuarial Consulting for State Office of Risk Management

Agency:  

Colorado State Office of Risk Management

State:  

Colorado

NAICS Code:  

5241

Industry:  

Insurance

Solicitation Type:  

Request for Proposal

Solicitation ID:  

RFP-AABA-2025000326-1

Open Date:  

6/18/2025

Close Date:  

7/28/2025

Last Updated:  

6/27/2025

Description:
The State Office of Risk Management is seeking an actuarial consulting firm to provide services related to risk management. The selected firm will be required to have an actuary on staff or have prior contractual arrangements with an actuary on a subcontract basis. The firm must have at least ten years of experience providing actuarial services to self-insured organizations with greater than 10,000 employees. The principal actuary assigned to the State's account must be a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries. • The firm must provide actuarial analysis for risk in a complex public environment. • The firm must have experience working with workers' compensation, property, cyber, and liability programs. • The firm must provide sample reports, including loss triangles, illustrating trending analyses of Incurred but Not Reported (IBNR) claims and allocations for self-insured programs. • The firm must provide evidence of special expertise in actuarial consulting. • The firm must provide a sample of a legislative bill review to illustrate experience in assisting clients during legislative sessions.
Attached Files:

Please visit the bid source via the “Link to Bid Source” button below for documentation.

Contact Information:

Phil Rollins(Buyer)

phil.rollins@state.co.us

Budget Estimate (AI):

$200,000 – $500,000

The budget for this opportunity is difficult to estimate without more information about the scope of work and the State's budget. However, based on the complexity of the services required and the experience and qualifications of the actuarial consulting firm, a reasonable estimate for the budget could be between $200,000 and $500,000 per year, depending on the specific services provided and the number of years the contract is in effect. Factors that may influence the likely payment range include the firm's level of experience, the scope of work, and the State's budget for risk management services.

Similar Opportunities provided by Bid Banana AI

The Bid Lab’s Experts Are Ready To Help You Win RFPs

The Bid Lab is the only RFP consulting firm of its kind, specializing in guiding small and medium-sized businesses through the proposal response process. We have RFP experts ready to help you respond to that perfect opportunity you discover in Bid Banana.

  • Trusted by 100s of small business owners
  • Experience working on 1000s of RFP responses
  • Success stories in virtually every industry you can check out by clicking here.