Actuarial Consulting Services

REQUEST FOR PROPOSALS FOR PROFESSIONAL SERVICES
ACTUARIAL CONSULTING SERVICES
ISSUED BY DEPARTMENT OF INSURANCE
CONTRACT NUMBER DOI26002-ACTUARIAL
Contents:
I. Overview
II. Scope of Services
III. Required Information
IV. Professional Services RFP Administrative Information
V. Contract Terms and Conditions
VI. RFP Miscellaneous Information
VII. Attachments
Appendix A - MINIMUM MANDATORY SUBMISSION REQUIREMENTS
Appendix B - SCOPE OF WORK AND TECHNICAL REQUIREMENTS
Appendix C - PAYMENT SCHEDULE
** Ctrl + Click on the headings above will take you directly to the section.
I. Overview
The State of Delaware Department of Insurance (the "Department'), seeks professional services to hire an
independent contractor for actuarial consulting services. This request for proposals ("RFP") is issued
pursuant to 18 Del. C. 307(b) and 29 Del. C. 6981 and 6982.
The proposed schedule of events subject to the RFP is outlined below:
Public Notice Date: __Monday, June 22, 2026_______________
Deadline for Questions Date: Monday, June 29, 2026_________________
Response to Questions Posted by: Date: __Thursday, July 9, 2026__________________
Deadline for Receipt of Proposals Date: __Thursday, July 16, 2026, at 4:00 PM (Local Time)
Estimated Notification of Award Date: __Monday, August 17, 2026________________
Each proposal must be accompanied by a transmittal letter which briefly summarizes the proposing firm's
interest in providing the required professional services. The transmittal letter must also clearly state and
justify any exceptions to the requirements of the RFP which the applicant may have taken in presenting the
proposal. (Applicant exceptions must also be recorded on Attachment 3).
Furthermore, the transmittal letter must attest to the fact, at a minimum, that the Vendor shall not store or
transfer non-public State of Delaware ("State") data outside of the United States. For technology related
solicitations, Vendors may refer to the Delaware Department of Technology and Information identified terms
and conditions included in this solicitation.
The State reserves the right to deny any and all exceptions taken to the RFP requirements.

STATE OF DELAWARE
Department of Insurance
MANDATORY PREBID MEETING
A mandatory pre-bid meeting has not been established for this Request for Proposal.
II. Scope of Services
Pursuant to its authority under 18 Del. C. 307(b), the Department is issuing this RFP to select one firm as
an independent contractor for actuarial consulting services.
This RFP will define the scope of the work to be performed, the requirements Vendor must address, the
method for response, and the administrative requirements that must be followed. Particularized details for
Scope of Services and Payment Schedule are provided in Appendices B and C, respectively, and are made
part of this RFP.
III. Required Information
The following information shall be provided in each proposal in the order listed below. Failure to respond to
any request for information within this proposal may result in rejection of the proposal at the sole discretion
of the State.
A. Minimum Requirements
1. Provide Delaware license(s) and/or certification(s) necessary to perform services as identified in the
scope of work.
Prior to the execution of a contract, the successful Vendor shall either furnish the Department with
proof of State of Delaware Business Licensure or initiate the process of application where required.
2. Vendor shall provide responses to this RFP scope of work and clearly identify capabilities as
presented in the General Evaluation Requirements below.
3. Complete all appropriate attachments and forms as identified within the RFP.
4. Proof of insurance and amount of insurance shall be furnished to the Department prior to the start of
the contract period and shall be no less than as identified in this RFP, Section V, Item G, subsection
8 (insurance).
5. Disclosure of any contractual relationship with insurance entities. The preferred Vendor will be one
who is independent of the insurance industry, not including other state or federal regulating bodies.
B. General Evaluation Requirements
1. Description of experience, expertise, and reputation.
2. Familiarity with the work required as set out in the Scope of Services.
3. Capacity to meet the requirements of the work required as set out in the Scope of Services (size,
financial condition, etc.)
4. Location (geographical)
5. Disclosure of any discipline or censure by any regulatory body. If any, describe the principal facts and
outcome.
6. Disclosure of any litigation or other legal proceedings within the last 5 years. If any, provide an
explanation and current status or disposition.
7. Detailed description of approach in performing services referred to under Scope of Services.
8. Description of ability to perform the services referred to under Scope of Services.
9. Financial terms pursuant to which the Vendor is willing to enter into a contract with the Department.
10. References from at least 3 prior clients/employers.
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IV. Professional Services RFP Administrative Information
A. RFP Issuance
1. Public Notice
Public notice has been provided in accordance with 29 Del. C. 6981.
2. Obtaining Copies of the RFP
This RFP is available in electronic form through the State Procurement website at
https://bids.delaware.gov/. Paper copies of this RFP will not be available.
3. Assistance to Vendors with a Disability
Vendors with a disability may receive accommodation regarding the means of communicating this
RFP or participating in the procurement process. For more information, contact the Designated
Contact no later than ten days prior to the deadline for receipt of proposals.
4. RFP Designated Contact
All requests, questions, or other communications about this RFP shall be made in writing to the
Department. Address all communications to the person listed below; communications made to other
State personnel or attempting to ask questions by phone or in person will not be allowed or recognized
as valid and may disqualify the Vendor. Vendors should rely only on written statements issued by
the RFP designated contact.
State of Delaware
Department of Insurance
Attn: Alisa Pritchard, Regulatory Specialist
RFP: Actuarial Consulting Services
1351 West North Street, Suite 101
Dover, Delaware 19904
Email: DOI-Legal@delaware.gov
To ensure that written requests are received and answered in a timely manner, electronic mail (e-
mail) correspondence is acceptable, but other forms of delivery, such as postal and courier services
can also be used.
5. Consultants and Legal Counsel
The Department may retain consultants or legal counsel to assist in the review and evaluation of this
RFP and Vendor responses. Bidders shall not contact the Department's consultant or legal counsel
on any matter related to the RFP.
6. Contact with State Employees
Direct contact with State employees other than the Department's Designated Contact regarding this
RFP is expressly prohibited without prior consent. Vendors directly contacting State employees risk
elimination of their proposal from further consideration. Exceptions exist only for organizations
currently doing business in the State who require contact in the normal course of doing that business.
7. Organizations Ineligible to Bid
Any individual, business, organization, corporation, consortium, partnership, joint venture, or any
other entity including subcontractors currently debarred or suspended is ineligible to bid. Any entity
ineligible to conduct business in the State for any reason is ineligible to respond to the RFP.
8. Exclusions
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The Proposal Evaluation Team reserves the right to refuse to consider any proposal from a Vendor
who:
a. Has been convicted for commission of a criminal offense as an incident to obtaining or attempting
to obtain a public or private contract or subcontract, or in the performance of the contract or
subcontract:
b. Has been convicted under State or Federal statutes of embezzlement, theft, forgery, bribery,
falsification or destruction of records, receiving stolen property, or other offense indicating a lack
of business integrity or business honesty that currently and seriously affects responsibility as a
State contractor:
c. Has been convicted or has had a civil judgment entered for a violation under State or Federal
antitrust statutes:
d. Has violated contract provisions such as;
1) Known failure without good cause to perform in accordance with the specifications or within
the time limit provided in the contract; or
2) Failure to perform or unsatisfactory performance in accordance with terms of one or more
contracts;
e. Has violated ethical standards set out in law or regulation; and
f. Any other cause listed in regulations of the State determined to be serious and compelling as to
affect responsibility as a State contractor, including suspension or debarment by another
governmental entity for a cause listed in the regulations.
B. RFP Submissions
1. Acknowledgement of Understanding of Terms
By submitting a bid, each Vendor shall be deemed to acknowledge that it has carefully read all
sections of this RFP, including all forms, schedules and exhibits hereto, and has fully informed itself
as to all existing conditions and limitations.
2. Proposals
To be considered, all proposals must be submitted in writing and respond to the items outlined in this
RFP. The State reserves the right to reject any non-responsive or non-conforming proposals. Each
proposal must be submitted electronically via email. Each email submission must include separate,
clearly labeled documents in Microsoft Word or PDF format, including the Transmittal Letter,
Proposal, and Pricing file.
All properly marked proposals are to be emailed to the Department and received no later than 4:00
PM (Local Time) on July 16, 2026. The electronic copy must include the complete Proposal and all
Proposal attachments in a single email.
Email for electronic submission: DOI-Legal@delaware.gov
Vendors are directed to title the email subject line as follows: "BID ENCLOSED / DOI26002-
ACTUARIAL (Vendor name)."
Any Proposal received after the Deadline for Receipt of Proposals date shall not be considered and
shall be returned unopened. The proposing Vendor bears the risk of delays in delivery.
Upon receipt of Vendor Proposals, each Vendor shall be presumed to be thoroughly familiar with all
specifications and requirements of this RFP. The failure or omission to examine any form, instrument
or document shall in no way relieve Vendors from any obligation in respect to this RFP.
3. Proposal Modifications
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Any changes, amendments or modifications to a proposal must be made in writing, submitted in the
same manner as the original response and conspicuously labeled as a change, amendment, or
modification to a previously submitted proposal. Changes, amendments, or modifications to
proposals shall not be accepted or considered after the hour and date specified as the deadline for
submission of proposals.
4. Proposal Costs and Expenses
The State will not pay any costs incurred by any Vendor associated with any aspect of responding to
this solicitation, including proposal preparation, printing or delivery, attendance at Vendor's
conference, system demonstrations or negotiation process.
5. Proposal Expiration Date
Prices quoted in the proposal shall remain fixed and binding on the bidder at least through May 26,
2027. The Department reserves the right to ask for an extension of time if needed.
6. Late Proposals
Proposals received after the specified date and time will not be accepted or considered. To guard
against premature opening, the subject line of the email shall be plainly marked according to the
instructions provided in IV.B.2. Evaluation of proposals is expected to begin shortly after the proposal
due date. To document compliance with the deadline, the Department will apply the time and date
the email is received, as reflected in the Department's email system timestamp.
7. Proposal Opening
The Department will receive proposals until the date and time shown in this RFP. Proposals will be
opened in the presence of State personnel. Any unopened proposals will be returned to the
submitting Vendor.
There will be no public opening of proposals, but a public log will be kept of the names of all Vendor
organizations that submitted proposals.
8. Non-Conforming Proposals
Non-conforming proposals will not be considered. Non-conforming proposals are defined as those
that do not meet the requirements of this RFP. The determination of whether an RFP requirement is
substantive, or a mere formality shall reside solely within the State and the Department.
9. Concise Proposals
The State discourages overly lengthy and costly proposals. It is the desire that proposals be prepared
in a straightforward and concise manner. Unnecessarily elaborate brochures or other promotional
materials beyond those sufficient to present a complete and effective proposal are not desired. The
Department's interest is in the quality and responsiveness of the Proposal to the specific information
requested in this RFP.
10. Realistic Proposals
It is the expectation of the Department that Vendors can fully satisfy the obligations of the proposal
in the manner and timeframe defined within the proposal. Proposals must be realistic and must
represent the best estimate of time, materials and other costs including the impact of inflation and
any economic or other factors that are reasonably predictable.
Neither the Department nor the State shall bear any responsibility or increase obligation for a
Vendor's failure to accurately estimate the costs or resources required to meet the obligations defined
in the proposal.
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11. Confidentiality of Documents
The State and its constituent agencies are required to comply with the State Freedom of Information
Act, 29 Del. C. 10001, et seq. ("FOIA"). FOIA requires that the State's records are public records
(unless otherwise declared by FOIA or other law to be exempt from disclosure) and are subject to
inspection and copying by any person upon a written request. The content of selected and non-
selected Proposals will become subject to FOIA's public disclosure obligations upon submission to
the Department.
The State wishes to create a business-friendly environment and procurement process. As such, the
State respects the Vendor community's desire to protect its intellectual property, trade secrets, and
confidential business information (collectively referred to herein as "confidential business
information"). Proposals must contain sufficient information to be evaluated. If a Vendor feels that
they cannot submit their proposal without including confidential business information, they must
adhere to the following procedure, or their proposal may be deemed unresponsive, may not be
recommended for selection, and any applicable protection for the Vendor's confidential business
information may be lost.
In order to allow the State to assess its ability to protect a Vendor's confidential business information,
Vendors will be permitted to designate appropriate portions of their proposal as confidential business
information. Designations which purport to protect the entire submission without appropriate
designations will be rejected and any applicable protection for Vendor's confidential business
information will be lost.
Vendor(s) may submit portions of a proposal considered to be confidential business information in a
separate, sealed envelope labeled "Confidential Business Information" and include the specific RFP
number. The envelope must contain a letter from the Vendor's legal counsel describing the
documents in the envelope, representing in good faith that the information in each document is not
"public record" as defined by 29 Del. C. 10002, and briefly stating the reasons that each document
meets the said definitions. Confidential designations without a letter from Vendor's legal counsel will
be rejected, and any applicable protection for Vendor's confidential business information may be lost.
Upon receipt of a proposal accompanied by such a separate, sealed envelope, the Department will
open the envelope to determine whether the procedure described above has been followed. A
Vendor's allegation as to its confidential business information shall not be binding on the State. The
State shall independently determine the validity of any Vendor designation as set forth in this section.
Any Vendor submitting a proposal or using the procedures discussed herein expressly accepts the
State's absolute right and duty to independently assess the legal and factual validity of any
information designated as confidential business information. Accordingly, Vendor(s) assume the risk
that confidential business information included in a proposal may enter the public domain.
12. Multi-Vendor Solutions (Joint Ventures)
Multi-Vendor solutions (joint ventures) will be allowed only if one of the venture partners is designated
as the "prime contractor". The "prime contractor" must be the joint venture's contact point for the
Department and be responsible for the joint venture's performance under the contract, including all
project management, legal and financial responsibility for the implementation of all Vendor systems.
If a joint venture is proposed, a copy of the joint venture agreement clearly describing the
responsibilities of the partners must be submitted with the proposal. Services specified in the
proposal shall not be subcontracted without prior written approval by the Department, and approval
of a request to subcontract shall not in any way relieve Vendor of responsibility for the professional
and technical accuracy and adequacy of the work. Further, Vendor shall be and remain liable for all
damages to the Department caused by negligent performance or non-performance of work by its
subcontractor or its sub-subcontractor.
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Department of Insurance
Multi-Vendor proposals must be a consolidated response with all costs included in the cost summary.
Where necessary, RFP response pages are to be duplicated for each Vendor.
a. Primary Vendor
The Department expects to negotiate and contract with only one "prime Vendor". The Department
will not accept any proposals that reflect an equal teaming arrangement or from Vendors who are
co-bidding on this RFP. The prime Vendor will be responsible for the management of all
subcontractors.
Any contract that may result from this RFP shall specify that the prime Vendor is solely responsible
for fulfillment of any contract with the Department as a result of this procurement. The Department
will make contract payments only to the awarded Vendor. Payments to any-subcontractors are
the sole responsibility of the prime Vendor (awarded Vendor).
Nothing in this section shall prohibit the State from the full exercise of its options under Section
IV.B.17 regarding multiple source contracting.
b. Sub-contracting
The Vendor selected shall be solely responsible for contractual performance and management of
all subcontract relationships. This contract allows subcontracting assignments; however,
Vendors assume all responsibility for work quality, delivery, installation, maintenance, and any
supporting services required by a subcontractor.
Use of subcontractors must be clearly explained in the proposal, and major subcontractors must
be identified by name. The prime Vendor shall be wholly responsible for the entire contract
performance whether or not subcontractors are used. Any sub-contractors must be approved
by the Department.
c. Multiple Proposals
A primary Vendor may not participate in more than one proposal in any form. Sub-contracting
Vendors may participate in multiple joint venture proposals.
13. Sub-Contracting
The Vendor selected shall be solely responsible for contractual performance and management of all
subcontract relationships. This contract allows subcontracting assignments; however, Vendors
assume all responsibility for work quality, delivery, installation, maintenance, and any supporting
services required by a subcontractor.
Use of subcontractors must be clearly explained in the proposal, and subcontractors must be
identified by name. Any sub-contractors must be approved by the Department.
14. Discrepancies and Omissions
Vendors are fully responsible for the completeness and accuracy of their proposal, and for examining
this RFP and all addenda. Failure to do so will be at the sole risk of Vendor. Should Vendor find
discrepancies, omissions, unclear or ambiguous intent or meaning, or should any questions arise
concerning this RFP, Vendor shall notify the Department's Designated Contact, in writing, of such
findings at least ten (10) days before the proposal opening. This will allow issuance of any necessary
addenda. It will also help prevent the opening of a defective proposal and exposure of Vendor's
proposal upon which award could not be made. All unresolved issues should be addressed in the
proposal.
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Department of Insurance
Protests based on any omission or error, or on the content of the solicitation, will be disallowed if
these faults have not been brought to the attention of the Designated Contact, in writing, at least ten
(10) calendar days prior to the time set for opening of the proposals.
a. RFP Question and Answer Process
The Department will allow written requests for clarification of the RFP. All questions shall be
received no later than June 29, 2026. All questions will be consolidated into a single set of
responses and posted on the State's website at bids.delaware.gov by the date of July 9, 2026.
Vendor names will be removed from questions in the responses released. Questions should be
submitted in the following format. Deviations from this format will not be accepted.
* Question number
* Section number
* Paragraph number
* Page number
* Text of passage being questioned
* Question
Questions not submitted electronically to DOI-Legal@delaware.gov shall be accompanied by a
CD and questions shall be formatted in Microsoft Word.
15. State's Right to Reject Proposals
The Department reserves the right to accept or reject any or all proposals or any part of any proposal,
to waive defects, technicalities or any specifications (whether they be in this RFP or Vendor's
response), to sit and act as sole judge of the merit and qualifications of each product offered, or to
solicit new Proposals on the same project or on a modified project which may include portions of the
originally proposed project as the Department may deem necessary in the best interest of the
Department .
16. State's Right to Cancel Solicitation
The Department reserves the right to cancel this solicitation at any time during the procurement
process, for any reason or for no reason. The Department makes no commitments expressed or
implied, that this process will result in a business transaction with any Vendor.
This RFP does not constitute an offer by the State or the Department. A Vendor's participation in this
process may result in the Department selecting your organization to engage in further discussions
and negotiations toward execution of a contract. The commencement of such negotiations does not,
however, signify a commitment by the Department to execute a contract nor to continue negotiations.
The Department may terminate negotiations at any time and for any reason, or for no reason.
17. State's Right to Award Multiple Source Contracting
Pursuant to 29 Del. C. 6986, the State may award a contract for a particular professional service to
two or more Vendors if the agency head makes a determination that such an award is in the best
interest of the State and the Department .
18. Potential Contract Overlap
Vendors shall be advised that the State, at its sole discretion, shall retain the right to solicit for goods
and/or services as required by its agencies and as it serves the best interest of the State. As needs
are identified, there may exist instances where contract deliverables, and/or goods or services to be
solicited and subsequently awarded, overlap previous awards. The State reserves the right to reject
any or all bids in whole or in part, to make partial awards, to award to multiple Vendors during the
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same period, to award by types, on a zone-by-zone basis or on an item-by-item or lump sum basis
item by item, or lump sum total, whichever may be most advantageous to the State or the Department.
19. Supplemental Solicitation
The Department reserves the right to advertise a supplemental solicitation during the term of the
Agreement if deemed in the best interest of the State.
20. Notification of Withdrawal of Proposal
Vendor may modify or withdraw its Proposal by written request, provided that both Proposal and
request is received by the Department prior to the proposal due date. Proposals may be re-submitted
in accordance with the Proposal due date in order to be considered further.
Proposals become the property of the State at the proposal submission deadline. All proposals
received are considered firm offers at that time.
21. Revisions to the RFP
If it becomes necessary to revise any part of the RFP, an addendum will be posted on the State's
website at bids.delaware.gov. Neither the State or the Department are bound by any statement
related to this RFP made by any State employee, contractor or its agents.
22. Exceptions to the RFP
Any exceptions to the RFP, or the State's terms and conditions, must be recorded on Attachment 3.
Acceptance of exceptions is within the sole discretion of the evaluation committee.
23. Award of Contract
The final award of a contract is subject to approval by the Department. The Department has the sole
right to select the successful Vendor(s) for award, to reject any proposal as unsatisfactory or non-
responsive, to award a contract to other than the lowest priced proposal, to award multiple contracts,
or not to award a contract, as a result of this RFP.
Notice in writing to a Vendor of the acceptance of its proposal by the Department and the subsequent
full execution of a written contract will constitute a contract, and no Vendor will acquire any legal or
equitable rights or privileges until the occurrence of both such events.
a. RFP Award Notifications
After review of the Proposal Evaluation Team (defined below) report and its recommendation,
and once the contract terms and conditions have been finalized, the Department will award the
contract.
The contract shall be awarded to the Vendor whose proposal is most advantageous, taking into
consideration the evaluation factors set forth in the RFP.
It should be explicitly noted that the Department is not obligated to award the contract to the
Vendor who submits the lowest bid or to the Vendor who receives the highest total point score,
rather the contract will be awarded to the Vendor whose proposal is the most advantageous to
the Department. The award is subject to the appropriate State approvals.
After a final selection is made, the winning Vendor will be invited to negotiate a contract with the
Department; remaining Vendors will be notified in writing of their selection status.
24. Cooperatives
Vendors who have been awarded similar contracts through a competitive bidding process with a
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Department of Insurance
cooperative, are welcome to submit the cooperative pricing for this solicitation. State of Delaware
terms will take precedence.
C. RFP Evaluation Process
An evaluation team composed of representatives of the State and/or Department will evaluate proposals
on a variety of quantitative criteria. Neither the lowest price nor highest scoring proposal will necessarily
be selected.
The Department reserves full discretion to determine the competence and responsibility, professionally
and/or financially, of Vendors. Vendors are to provide in a timely manner any and all information that the
Department or the State may deem necessary to make a decision.
1. Proposal Evaluation Team
The Proposal Evaluation Team shall be comprised of representatives of the State. The Proposal
Evaluation Team shall determine which Vendors meet the minimum requirements pursuant to
selection criteria of the RFP and procedures established in 29 Del. C. 6981 and 6982. Professional
services for this solicitation are considered under 29 Del. C. 6982(b). The Proposal Evaluation
Team may negotiate with one or more Vendors during the same period and may, at its discretion,
terminate negotiations with any or all Vendors. The Proposal Evaluation Team shall make a
recommendation regarding the award to the Delaware Insurance Commissioner, who shall have final
authority, subject to the provisions of this RFP and 29 Del. C. 6982(b), to award a contract to the
successful Vendor in the best interests of the Department.
2. Proposal Selection Criteria
The Proposal Evaluation Team shall assign up to the maximum number of points for each Evaluation
Item to each of the proposing Vendor's proposals. All assignments of points shall be at the sole
discretion of the Proposal Evaluation Team.
The proposals shall contain the essential information on which the award decision shall be made.
The information required to be submitted in response to this RFP has been determined by the State
and the Department to be essential for use by the Proposal Evaluation Team in the bid evaluation
and award process. Therefore, all instructions contained in this RFP shall be met in order to qualify
as a responsive and responsible contractor and participate in the Proposal Evaluation Team's
consideration for award. Proposals which do not meet or comply with the instructions of this RFP
may be considered non-conforming and deemed non-responsive and subject to disqualification at the
sole discretion of the Proposal Evaluation Team.
The Proposal Evaluation Team reserves the right to:
* Select for contract or for negotiations a proposal other than that with lowest costs.
* Reject any and all proposals or portions of proposals received in response to this RFP or to make
no award or issue a new RFP.
* Waive or modify any information, irregularity, or inconsistency in proposals received.
* Request modification to proposals from any or all Vendors during the contract review and
negotiation.
* Negotiate any aspect of the proposal with any Vendor and negotiate with more than one Vendor
at the same time.
* Select more than one Vendor pursuant to 29 Del. C. 6986.
Criteria Weight
All proposals shall be evaluated using the same criteria and scoring process. The following criteria
shall be used by the Proposal Evaluation Team to evaluate proposals:
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