Posted Date : February 02,2021
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : ESTATE-4075
Government Authority located in Memphis, Tennessee; USA based organization looking for expert vendor for insurance broker services.
[A] Budget: Looking for Proposal
[B] Scope of Service:
(1) Vendor needs to provide insurance broker services to the government authority located in Memphis, TN.
A. Designing, Marketing and Implementing
- Design and market, and implement the broadest coverages at the most reasonable cost for the exposure of agency.
- Present specifications to the marketplace, request quotations for specified programs, respond to the underwriter's questions, and provide additional data if requested. Provide reports to agency on the progress of these efforts.
- Receive and analyze the underwriter's quotations, determine whether they meet the specifications and whether the price is reasonable; negotiate changes and refinements.
- Present recommendations to agency on placement of each policy not less than 60 days prior to the expiration of the policies. Include a detailed report documenting outreach efforts and responses from underwriters.
- Place, cancel and otherwise handle, for the benefit of agency, all placements, binders, policies and endorsements as requested by agency on a timetable which would avoid lapse on coverage.
- Review policies upon receipt to verify conformance to the specification and negotiations, and request and monitor required changes.
- Coordinate and provide ongoing services between agency and the carriers which are normally provided by the underwriters in a fully insured program.
- Periodically assist agency with insurance questions affecting agency.
- Advise agency as appropriate on alternative coverages or innovative ideas for reducing cost and exposure.
B. Policyholder Services
- Provide ongoing services to agency throughout the duration of the contract. Issue required certificates of insurance to all insured parties.
- Keep current on all exposure changes and amend the policies as appropriate.
- Request modifications to the coverage from the underwriters as required. Monitor requested changes provided by the insurers.
- Produce and verify the accuracy of bills, audits, and any other premium adjustments.
C. Claims Management and Procedures
- Process claims and monitor activity on claims as presented.
- Provide status reports to agency upon request.
D. Financing of Premiums
- At agency’s option, assist in making arrangements for financing of insurance premiums in order to spread out payments over a 6-12 month period. Agency may choose to make the entire premium payment at one time or use a financing arrangement.
(2) All questions must be submitted no later than February 10, 2021.
(3) A pre-proposal meeting will take place on February 4, 2021.
(4) Contract term will be five years.
[C] Eligibility:
- Onshore (USA Organization Only);
[D] Work Performance:
NA
Budget :
Deadline to Submit Proposals: March 02,2021
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$
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Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : ESTATE-4075
Government Authority located in Memphis, Tennessee; USA based organization looking for expert vendor for insurance broker services.
[A] Budget: Looking for Proposal
[B] Scope of Service:
(1) Vendor needs to provide insurance broker services to the government authority located in Memphis, TN.
A. Designing, Marketing and Implementing
- Design and market, and implement the broadest coverages at the most reasonable cost for the exposure of agency.
- Present specifications to the marketplace, request quotations for specified programs, respond to the underwriter's questions, and provide additional data if requested. Provide reports to agency on the progress of these efforts.
- Receive and analyze the underwriter's quotations, determine whether they meet the specifications and whether the price is reasonable; negotiate changes and refinements.
- Present recommendations to agency on placement of each policy not less than 60 days prior to the expiration of the policies. Include a detailed report documenting outreach efforts and responses from underwriters.
- Place, cancel and otherwise handle, for the benefit of agency, all placements, binders, policies and endorsements as requested by agency on a timetable which would avoid lapse on coverage.
- Review policies upon receipt to verify conformance to the specification and negotiations, and request and monitor required changes.
- Coordinate and provide ongoing services between agency and the carriers which are normally provided by the underwriters in a fully insured program.
- Periodically assist agency with insurance questions affecting agency.
- Advise agency as appropriate on alternative coverages or innovative ideas for reducing cost and exposure.
B. Policyholder Services
- Provide ongoing services to agency throughout the duration of the contract. Issue required certificates of insurance to all insured parties.
- Keep current on all exposure changes and amend the policies as appropriate.
- Request modifications to the coverage from the underwriters as required. Monitor requested changes provided by the insurers.
- Produce and verify the accuracy of bills, audits, and any other premium adjustments.
C. Claims Management and Procedures
- Process claims and monitor activity on claims as presented.
- Provide status reports to agency upon request.
D. Financing of Premiums
- At agency’s option, assist in making arrangements for financing of insurance premiums in order to spread out payments over a 6-12 month period. Agency may choose to make the entire premium payment at one time or use a financing arrangement.
(2) All questions must be submitted no later than February 10, 2021.
(3) A pre-proposal meeting will take place on February 4, 2021.
(4) Contract term will be five years.
[C] Eligibility:
- Onshore (USA Organization Only);
[D] Work Performance:
NA
Budget :
Deadline to Submit Proposals: March 02,2021
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$