Summary:
A Request for Proposal (RFP) was issued on May 10, 2017 to select a qualified firm to provide Group Term Life, AD&D, STD and LTD insurance. Four responsive proposals were received and reviewed by an Advisory Committee comprised of the following individuals:
- Jessica Mason, Health Services Financial Manager, Human Resources Division (Chair)
- Michael Flood, HR Assessment Consultant, Human Resources Division
- David Wagg, Parks Assistant Division Manager, Parks Division
- Cynthia Merrithew, Employee Benefits Supervisor, Human Resources Division
- Donna Taylor, Accounting Operations Manager, Accounting Division
Based on the information presented in the proposals and the evaluation criteria set forth in the RFP, the firms were ranked by the Advisory Committee in the following order:
Ranking
|
Firm
|
Location
|
1
|
Standard Insurance Company
|
Portland, Oregon
|
2
|
Metropolitan Life Insurance Company
|
Tampa, Florida
|
3
|
Hartford Life and Accident Insurance Company
|
Tampa, Florida
|
4
|
Reliance Standard Life Insurance
|
Tampa, Florida
|
The initial contract term is two (2) years with an option to renew for five (5) additional one (1) year terms. The estimated annual expenditure is $1,240,000.00
M/WBE and VBE Participation Plans for employee benefit contracts are not applicable and were not included as evaluation criteria. |
Recommended Action:
Approval of the ranking established by the Advisory Committee and approval and authorization for the Chief Procurement Officer to negotiate and execute a contract, documents related to the contract and subsequent renewals with the top ranked firm, Standard Insurance Company, as indicated above. If negotiations are not successful with the top ranked firm, approval and authorization for the Chief Procurement Officer to negotiate with the remaining firms in ranked order and execute a contract, documents related to the contract and subsequent renewals as indicated above, with the highest ranked firm with whom agreement is reached. The final negotiated agreement will be subject to review and approval by the City Attorney’s Office. |