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Awarded contract·New Mexico Office of Superintendent of Insurance·New Mexico

Development and Administration of Licensing Examinations for the New Mexico Office of Superintendent of Insurance

Won by PSI Services$600kSingle Award
Contract source

Awarded vendors

  • PSI Services

Description

This emergency award obligates PSI Services to design, deliver, and manage all state‑required insurance licensing examinations for New Mexico. The scope covers exam development, candidate registration, fee collection, physical and remote test‑center operations, scoring, reporting, bilingual administration, and provision of expert testimony. The contract runs for six months, with the state incurring no direct cost—the vendor is paid solely from candidate exam fees. • Full‑service exam lifecycle: creation of question banks, scheduling, administration (in‑person and remote), scoring, and results transmission. • Mandatory establishment of at least five ADA‑compliant test centers across New Mexico, plus a bilingual (English/Spanish) offering. • Ongoing reporting obligations: quarterly statistical reports, annual handbook, and same‑day data delivery to OSI and NAIC.

Attached files

Key dates

Bids closed
8/23/2026
Starts
7/23/2026
Ends
1/22/2027
Duration
6 months

Last updated

Details

Award type
Single Award
Procurement
Other Than Full and Open Competition
Industry
Insurance
NAICS
541618
Solicitation №
70-44000-26-EM073

Contract value

$600,000

The contract itself shows a state‑funded amount of $0.00, meaning OSI pays nothing directly. Vendor compensation comes from exam fees collected from candidates. Assuming an average fee of $150 per exam, and estimating that roughly 4,000 candidates will sit for various licensing exams over the six‑month period (a modest figure for a statewide program covering multiple license categories), projected revenue would be about $600,000. This ball‑park reflects typical state licensing volumes and fee structures, but actual revenue could be higher if exam demand spikes or lower if participation is below expectations.

AI estimate from the award documents

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