GICPND2601 Procuring Life and LTD Insurance for Employees and Retirees

The Commonwealth of Massachusetts Group Insurance Commission is soliciting bidders to underwrite and administer group term Life and Long-Term Disability (LTD) insurance programs. The contract will be for an initial duration of three years, with the possibility of two one-year extensions. Bidders may bid on both Life and LTD, Life only, or LTD only. The bid requires a detailed implementation plan, company organizational chart, resumes for key personnel, and other documentation. The estimated procurement calendar includes a virtual bidders' conference, deadline for submission of questions, and a bid opening date. • The Group Insurance Commission (GIC) is a quasi-independent state agency that designs, implements, and manages employee and retiree benefit plans. • The GIC administers insurance benefits for over 450,000 individuals, including Commonwealth employees, retirees, and their dependents. • The current vendor for Life and LTD insurance is MetLife. • The bid requires bidders to submit two separate documents: a Technical Proposal and a Cost Proposal. • The Technical Proposal should include a detailed implementation plan, company organizational chart, and resumes for key personnel. • The Cost Proposal should include pricing information and any other relevant cost details.