REQUEST FOR PROPOSALS (RFP) for INSURANCE BROKER. Issued: May 19, 2015

Transcription

1 REQUEST FOR PROPOSALS (RFP) for INSURANCE BROKER Issued: May 19, 2015 PROPOSAL SUBMISSION DEADLINE: *******June 2, 2015 by 2:00PM Local Time ******* NO LATE PROPOSALS WILL BE ACCEPTED Proposals received after stated closing time will be returned unopened. RESPONSES SHALL BE DELIVERED TO: Town of Trophy Club 100 Municipal Drive Trophy Club, TX RESPONSES SHALL BE MAILED TO: Town of Trophy Club 100 Municipal Drive Trophy Club, TX *********************************************** Name and address of company submitting proposal: The Request for Proposals (RFP) packet may be obtained online at or at the Town Offices located at 100 Municipal Drive, Trophy Club, TX *********************************************** For additional information regarding this RFP please Contact Person: contact: Title Steve Glickman, Assistant Town Manager/CFO Phone: ( ) Fax : ( ) [email protected] *********************************************** Return this cover sheet with response to: Signature: Steven Glickman Assistant Town Manager/CFO Printed Name: The TOWN OF TROPHY CLUB reserves the right to waive any informality and to reject any or all submittals. It is the policy of the TOWN OF TROPHY CLUB to afford all people an equal opportunity to bid on any contract being let by the Town. The TOWN OF TROPHY CLUB has a policy that prohibits discrimination against any person because of race, color, sex, or national origin, in the award of performance of any contract.

2 Request for Proposals General Information A. Purpose The purpose of this request for proposal is to solicit and select an independent insurance broker (hereinafter referred to as BROKER) to act as the representative of the Town of Trophy Club (hereinafter referred to as TOWN) for employee health and welfare benefits management. The Broker shall effect the most advantageous placement of insurance coverage including but not limited to the terms and conditions of coverage, continuity and cost. In addition, the Broker must be capable of providing a full range of value-added services, including but not limited to, those outlined in the Scope of Services section. Scope of Services Employee Benefits Consulting The services detailed below are those services expected to be provided by the Broker pertaining to health and welfare benefits. Actual work will be directed by the Town and may involve other consulting services that are not listed below. 1. Conduct strategic planning meetings to establish goals, priorities and identify areas of concern. 2. Financial underwriting and claims analysis, including renewal analysis and negotiations, budget projections, funding levels and alternatives, large claims analysis and quarterly reporting of the plan s financial performance. 3. Evaluate plan design in light of industry trends and labor market conditions, claims cost trends, alternative delivery systems and legal requirements. Evaluate eligibility, cost-sharing and benefit structure and network savings. 4. Prepare Requests for Proposals for insurance services or other employee benefit programs; analyze and make appropriate recommendations. 5. Apprise the Town of local and national trends and innovative ideas, and recommend new products, programs and services to ensure a competitive benefits plan. 6. Review and analyze claims experience data, claims service, efficiency and accuracy of claims administration to ensure that the Town is receiving optimum service and benefits from all carriers and vendors. 7. Review on-going employee communications program, including a review of booklets, announcement materials and benefit statements. 8. Manage carrier/vendor relationships, review and advise on master contracts, review carrier service levels and compare to performance guarantees, resolve administrative issues, conduct periodic meetings as necessary. 9. Assist in COBRA, HIPAA, DOL, and ERISA compliance and reporting to include Summary Plan Descriptions and other Plan Documents. 10. Act as a technical resource and provide periodic updates on legislative developments and emerging trends. 11. Evaluate in-house administration procedures including recommendations for improving services and efficiency through the use of technology RFP Insurance Broker Page 2 of 10

3 Proposal Instructions ALL PROPOSALS SUBMITTED BY THE BROKER MUST BE PRESENTED IN THE FORMAT PROVIDED BELOW AND MUST CLEARLY SHOW BROKER S RESPONSE IN THE APPROPRIATE DESIGNATED SECTION. FAILURE TO FOLLOW THIS DIRECTIVE WILL CAUSE YOUR PROPOSAL TO BE DEEMED UNRESPONSIVE AND IT WILL BE REJECTED FROM ANY FURTHER CONSIDERATION. Broker should submit one (1) original and five (5) copies of the proposal. In the event multiple proposals are received from the Broker, Broker will be asked to select one (1) proposal for consideration and the others will be returned to Broker. All proposals must include the following requested information in the appropriate sections as defined below: 1.0 Company Information Section I Introduction 1.1 Name of the proposed firm and name of the representative submitting the proposal. Include all contact information. 1.2 Provide an overview of your firm and its ownership/organizational structure, philosophy/culture and number of employees. 1.3 Describe, if applicable, how your firm is functionally tied to any insurer or provider of service and how that relationship may influence your ability to provide Broker services to the Town. 1.4 Identify members of your staff that would be assigned to this contract and provide a summary of their qualifications, percentage of their time you anticipate they would be dedicating to this contract and their availability to travel to our corporate headquarters and/or field locations. Section II Company Expertise/Experience 1 Describe your firm s expertise in each of the following areas. 1.1 Health and Welfare 1.2 Legal Counsel/Compliance 1.3 Benchmarking 1.4 Actuarial/Underwriting 1.5 Research and Technical Services 1.6 Benefits Administration 1.7 Benefits Communication 2 Marketplace Position 2.1 Describe your firm s marketplace leverage in negotiating with carriers in regards to rates, policy terms and plan design. 2.2 Describe your view of the role of a Broker in this type of relationship and what differentiates your firm from other brokerage-consulting firms. 2.3 Identify a minimum of three (3) other accounts similar in size and scope for which you are presently serving as Broker which can serve as a reference for your service RFP Insurance Broker Page 3 of 10

4 3 Insurance Carrier and Health Plan Selection Process 3.1 Describe how your firm would handle the selection of insurance carriers and other service providers for the Town. 3.2 Describe your firm s consulting approach for bidding and selecting the most appropriate health plan alternative. 4 Description of Broker Services and Ability 4.1 Describe the process your firm utilizes to manage and administer a benefit package of our size throughout a contract year i.e. 80 employees in 4 locations. 4.2 What strategy does your firm utilize to manage and forecast a benefit package over a 2-3 year period? 4.3 Describe all services your firm/agency will offer the Town. 4.4 What type of performance measures would your firm use to evaluate customer service and the Town employee satisfaction? Are you willing to provide performance guarantees to the Town for your services? 4.5 Describe your procedure for dealing with employee inquiries. 4.6 Do you offer assistance with claims and/or coverage questions? 4.7 Describe the action that would be taken, the support provided, and the personnel who would be involved in investigating and settling a disputed claim. 4.8 Describe the steps you anticipate will be needed to ensure a smooth transition if you are selected as the new Agent of Record. 1.0 Compensation Section III Cost 1.1 Provide a description of the compensation structure proposed by the brokerage firm. The description shall include all bases for remuneration proposed by the firm, i.e., commission, fee, other. Broker shall complete the Proposal Item Pricing Summary, Attachment A, providing all rates, commissions, fees and other expenses for a total proposal price. 2.0 Fee Structure 2.1 Describe all available fee structures offered by your firm; including travel charges and any other cost that may be passed on to the Town. Section IV. Overview of Current Insurance Programs The following is provided as Broker information only. This is a general overview of the Town s current employee benefits program. This information is to be used in the preparation of your proposal only RFP Insurance Broker Page 4 of 10

5 Type of Coverage Carrier Employees + dependents Enrolled Medical PPO (high plan) TML IEBP 15 Medical PPO (standard plan) TML IEBP 43 Medical - HDHP TML IEBP 8 Dental TML IEBP 105 Vision TML IEBP 100 Voluntary Short Term Disability Mutual of Omaha 24 Long Term Disability Mutual of Omaha 68 Life Insurance & AD&D The Standard 68 Voluntary Life Insurance & AD&D The Standard 24 Section V. Evaluation Criteria The proposals received will be evaluated based on the following criteria to determine each Broker s qualifications. The order does not indicate relative ranking. 1. Demonstration of competence, technical expertise, experience in employee benefits, insurance placement and Human Resources. 2. Demonstrated record of responsiveness and quality of customer service on this type of account. 3. Both the Broker s capabilities and the experience of individual team members assigned to the Town account will be considered. 4. Availability to travel as needed to corporate headquarters and/or field locations. 5. Rates, fees or charges including the level of detail provided in the firm's fee information, as well as the willingness of the firm to offer flexible fee arrangements. 6. Broker s awareness and ability to provide timely, accurate communication of emerging trends, opportunities, regulatory updates and liabilities to clients. 7. Broker s ability to provide a broad spectrum of consulting services, including, but not limited to actuarial, claims administration, alternative funding arrangements. 8. Responsiveness of the Broker s proposal to the RFP, including clarity and organization of response, clear presentation of Broker s experience and approach to ensuring the needs of the Town are fully met. Section VI. Final Evaluation and Selection Based on a review of the written response, the Town will select a short list of candidates who will be asked to make an oral presentation to be arranged at a mutually convenient time at the Town s offices in Trophy Club, TX. This presentation is expected to confirm proposal representations; supplement information obtained through the proposal process and give the Town the opportunity to meet the individuals who would be assigned to our account. An agenda of items we wish to be addressed during this meeting will be forwarded to the final candidates prior to the meeting. Each selected finalist will be evaluated with consideration given to how they best meet the needs of the Town and the basis of capabilities described in their written proposal and oral presentation. The organization that best matches the Town s objectives will be selected RFP Insurance Broker Page 5 of 10

6 Section VII. Proposal Timetable The timetable below sets forth the expected due dates for each event regarding this RFP process and our selection of the successful Broker. Proposals due to (Client Name) June 2, 2015 Finalists Selection June 5, 2015 Finalists Q&A Presentation June 9, 2015 Final Selection and Award June 23, 2015 Section VIII. Proposal Due Date and Contact Information Proposals shall be submitted to the Town at the Town offices on or June 2, 2015 by 2:00PM Local Time. Please submit one (1) original and five (5) copies of the proposal to: Town of Trophy Club 100 Municipal Drive Trophy Club, TX RFP Insurance Broker Page 6 of 10

7 CURRENT & PREVIOUS REFERENCES Proposals should include three (3) institutions, of similar or the same size, where your organization has provided services similar to those being requested by the Town of Trophy Club. Please include name, title, telephone number and address of a contact person at each institution. References may be checked electronically; the requirement for addresses is a mandatory requirement. 1. Company Name: Address: City / State / Zip Phone: Contact / Title Dates: 2. Company Name: Address: City / State / Zip Phone: Contact / Title Dates: 3. Company Name: Address: City / State / Zip Phone: Contact / Title Dates: RFP Insurance Broker Page 7 of 10

8 Attachment A Item Pricing Summary The description shall include all bases for remuneration proposed by the firm, i.e., commission, fee, other. Broker shall complete the Proposal Item Pricing Summary, providing all rates, commissions, fees and other expenses for a total proposal price. The price and contract fee is a presentation of the proposer s total offering price including the cost for providing each component of the required services. Optional services may be priced separately. Please be reminded, and address the fact, that all insurance policies obtained through the broker are net of commission. Proposers should indicate the dollar amount that will be attributed to each line of coverage and each sub-contractor, if any. Proposers may use formats of their choice to provide the latter. 1. State annual flat fee for broker of record services: * It is expected that BROKER will perform all services listed in Scope of Services, Section of the proposal document unless specifically excluded in writing and included in response. 2. State annual flat fee for Supplemental Services Consulting Services: * It is expected that BROKER will perform all services listed in Scope of Services, Section of the proposal document unless specifically excluded in writing and included in response. 3. State annual flat fee for Supplemental Services Claims Auditing Services: * It is expected that BROKER will perform all services listed in Scope of Services, Section of the proposal document unless specifically excluded in writing and included in response. 4. State annual flat fee for Supplemental Services Claims Actuarial Service: * It is expected that BROKER will perform all services listed in Scope of Services, Section of the proposal document unless specifically excluded in writing and included in response. 5. State annual flat fee for Supplemental Services Claims Services: 2015 RFP Insurance Broker Page 8 of 10

9 Explain Services: * It is expected that BROKER will perform all services listed in Scope of Services, Section of the proposal document unless specifically excluded in writing and included in response 6. State annual flat fee for Supplemental Services Insurance and Contract Management: Explain Services: * It is expected that BROKER will perform all services listed in Scope of Services, Section of the proposal document unless specifically excluded in writing and included in response 7. State annual flat fee for Supplemental Services Optional Services: Explain Optional Services: 2015 RFP Insurance Broker Page 9 of 10

10 REQUEST FOR PROPOSALS INSURANCE BROKER TOWN OF TROPHY CLUB Received Name of Broker: Qualifications: 1. The firm has no conflict of interest with regard to any other work performed for the Town of Trophy Club. Yes No 2. How many years has your company been in business under its present name? 3. Have you or any member of your Firm or Team to be assigned to this engagement ever been indicated or convicted of a felony in the last five (5) years? Yes No 4. Have you or any member of your Firm or Team been terminated (for cause or otherwise) from any work being performed for the Town of Trophy Club or any other Federal, State, or Local Government, or Private Entity? Yes No 5. Have you or any member of your Firm or Team been involved in any claim or litigation with the Town of Trophy Club or any other Federal, State or Local Government, or Private Entity during the last ten (10) years? Yes No If you have answered YES to any of the above questions, please indicate the names(s) of the person(s), the nature, and the status and/or outcome of the indictment, conviction, termination, claim or litigation, as applicable. Any such information should be provided on a separate page, attached to this form and submitted with your proposal RFP Insurance Broker Page 10 of 10