Actuarial Services

The City of Independence issued a Request for Proposal (RFP) for actuarial services to assist in the analysis of and provide recommendations with regard to its Self-Insured Workers' Compensation Program. The successful firm will provide various actuarial services, including consultation and advisory services, premium and funding levels recommendations, projecting claims and administrative expenses, reserves, and other related tasks. The contract is for a one-year agreement with four one-year extensions at the option of the City. The evaluation criteria included experience and reliability, credentials and qualifications, ability to meet scope of services requirements, substantial compliance with the City's Terms and Conditions, and most reliable and cost-effective service. • The RFP was issued on October 21, 2013, and closed on November 12, 2013. • Five responsive proposals were received from firms specializing in benefits consulting and actuarial services. • The Review Committee evaluated the proposals based on the established criteria and unanimously recommended Centric Actuarial Solutions. • The contract includes a five-year price agreement with a "not to exceed" amount, plus travel and expenses. • The selected firm will provide actuarial services, including consultation and advisory services, premium and funding levels recommendations, and projecting claims and administrative expenses.