RFP C1757 - Basic Life and Accidental Death and Dismemberment (AD&D), Voluntary Life and Long-Term Disability (LTD) Insurance

The Fashion Institute of Technology (FIT) is seeking an experienced insurer/administrator to manage its employee Basic Life, Accidental Death & Dismemberment, Voluntary Life, and Long‑Term Disability insurance programs for approximately 806 full‑time faculty and staff. The contract will run for three years beginning May 1 2027, with optional one‑year extensions, and requires the provider to handle plan design, enrollment, claims processing, reporting, customer service, and a full transition from the current carrier by the effective date. • Administer existing Basic Life/AD&D coverage and voluntary life options (up to 4 × salary, $500 k max). • Provide and manage LTD coverage (basic 60 % salary, optional buy‑up options). • Deliver enrollment management, annual open enrollment, new‑hire processing, and life‑event changes. • Supply comprehensive reporting, data‑security compliance (FERPA, CDI), and customer‑service support for participants and FIT staff. • Execute a seamless transition from the current carrier (Hartford) to the new provider during Feb‑Apr 2027, with the plan effective May 1 2027.