Basic Information

Reference Number

0000250545

Issuing Organization

Financial Services Regulatory Authority of Ontario (FSRA)

Owner Organization

Financial Services Regulatory Authority of Ontario

Solicitation Type

RFP - Request for Proposal (Formal)

Solicitation Number

FSRA2022-004-1

Title

AIP Actuarial & Operational Risk Management Consulting Contracts for Supporting

Source ID

PP.CO.ON.1010658.C105462

Details

Location

Canada, Ontario

Description

This initiative aims to address the shortage of internal credentialed actuaries and provide qualified actuarial opinions in reviewing and approving rate filing activities, as well as fulfilling operational requirements and expectations. AIP intends to issue Requests for Proposals (RFPs) for three consulting contracts that will entail the following deliverables:
1. Rate Filing Review - Experience and expertise in reviewing auto insurance rate filing applications for reasonableness of proposed changes to rate level and risk classification.
2. Predictive Model Review - Experience and expertise in comprehensive review of predictive models used in auto insurance rating and underwriting.
3. Benchmark and Product Reform - Experience and expertise in actuarial analysis on the loss cost trend in auto insurance, and actuarial costing analysis for auto insurance product reform.
4. Trends and Emerging Issues - Experience and expertise in performing market assessments, and supporting the regulator in reviewing, analyzing, and responding to emerging issues, and providing recommendations and solutions on how to address any identified concerns.
The provision of the Deliverables will be on an as-needed basis and may comprise multiple assignments. The frequency and timings of the assignments will depend on FSRA’s needs and requirements.

Dates

Publication

2023/06/22 05:32:16 PM EDT

Bid Intent

Not Available

Question Acceptance Deadline

2023/06/28 03:00:00 PM EDT

Questions are submitted online

Yes

Closing Date

2023/07/05 05:00:00 PM EDT

Contact Information

Mara Caravaggio

4164175818

mara.caravaggio@fsrao.ca

Bid Submission Process

Bid Submission Type

Electronic Bid Submission

Pricing

Lump sum

Bid Documents List

Item Name	Description	Mandatory	Limited to 1 file
Bid Documents	Documents defining the proposal	No	No
No entries

Additional Bidding Instructions

Please provide 2 evelopes, one rated crited and one price criteria.

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