REQUEST FOR INFORMATION RFI No.: FOR FRAUD ANALYTICS SOFTWARE

Transcription

1 REQUEST FOR INFORMATION RFI No.: FOR FRAUD ANALYTICS SOFTWARE This is a Request for Information (RFI) issued by Citizens Property Insurance Corporation ( Citizens ). Citizens is seeking market information regarding potential solutions for fraud analytics and reporting functionality. It is Citizens desire to provide a long term fraud analytics solution that supports the needs of the Enterprise - Special Investigations Unit. This information is sought for planning purposes only. This RFI is not a solicitation and will not result in a contract, nor does it create any obligation on the part of Citizens. Citizens may use the information obtained through this RFI process in future solicitations. I. COMPANY HISTORY In 2002, the Florida Legislature created Citizens, a not-for-profit governmental entity, whose public purpose is to provide insurance to applicants who are not able to purchase coverage in the private insurance market. Citizens is governed by Section (6) Florida Statutes and operates pursuant to a Plan of Operation that is approved by the Financial Services Commission of the State of Florida. Citizens operations are supervised by a Board of Governors whose members are appointed by the Governor, CFO, President of the Senate and Speaker of the House. Additional information about Citizens is available at Citizens website which is located at: II. PURPOSE The purpose of this RFI is to obtain market information regarding fraud analytics software. The software should be capable of providing actionable intelligence to identify, predict and/or prevent insurance fraud impacting insurance operations, through advanced and automated descriptive and/or predictive analytics using external data and Citizens insurance operations data. The software should enhance Citizens ability to discover aberrant patterns and relationships that exist in claims, policy/underwriting, and agency data and provide a simplified approach to the visualization of complex data. III. REQUESTED INFORMATION As you develop your responses, Citizens invites comments, suggestions, recommendations and creative ideas on what makes your firm and product/services unique. You are urged to submit white papers, market brochures, case studies and URL web links to information, in response or to support your responses. A. Vendor Overview: (Note: If your response refers to third-party products that support additional functionality or extend capabilities, please specifically name them.) 1. Provide the product name(s) and active version(s). 2. Which property and casualty insurance companies utilize your software? RFI No.: , Fraud Analytics Software Page 1 of 6

2 3. What is the size of your total customer base? 4. Are there any anticipated mergers or acquisitions pending? 5. Describe any third party alliances or partnerships. B. Software and/or Services: Vendors may provide information related to options for Software as a Service ( SaaS ) or Citizens hosted software/services that include the items below: 1. Describe the primary hosting and data storage structure (e.g., SaaS, local install, etc.). 2. Describe the type of interface an end user will use (e.g., web-based, software installation, etc.). 3. Describe how new data sources are configured for use. 4. Describe the implementation methodology. 5. Provide average implementation time including by not limited to integration, testing and transformation. 6. Provide an overview of your software by functional group: internal and external users and Citizens administrator and business rules, etc. 7. Describe software average response times and maximum number of concurrent users. 8. Describe the software configurability of criteria and customization. 9. Describe which aspects of software configurability of criteria and customization require vendor support, and which can be configured by the client. 10. Describe the company s privacy policies in regard to use and distribution of customer data and intellectual property. 11. Describe the methods for ensuring privacy in regard to data transfers and distribution to external sources. 12. Describe any third-party system integrations. 13. Describe the overall system architecture. 14. Describe the software s mobile technology capabilities. 15. Describe how the software handles collaboration support. 16. Do any of the company s products employ open source code? 17. Describe how often product updates are released. 18. Are there any fees associated with updates or bug fixes? C. Reporting/Data/Database 1. Is the vendor s software able to report based on usage (number and type of queries, analysis, and reports designed and/or performed, etc.)? 2. Does the vendor s software maintain an audit log to report what steps are performed and who performed said steps? 3. Does vendor s software maintain an audit log detailed enough for work to be exactly duplicated? 4. Describe any data limitations (i.e., volume, velocity, variety). 5. Describe the data sources with which your product(s) is able to interface. 6. Describe the type of data flow the software is able to handle (i.e. live streams, hourly, daily, weekly, etc.) RFI No.: , Fraud Analytics Software Page 2 of 6

3 7. Describe data export capabilities. 8. Describe data reporting capabilities. 9. Describe how and where data analyses is performed and stored. 10. Describe software s capabilities in regard to real time data monitoring. 11. Describe the software s capabilities and methods to deliver alerts based on predefined rules. D. Data Analytics: Vendor may provide information related to the various types of data types and methods the software can analyze. 1. Integrity/Syncing: Describe how the software would proactively identify any data integrity or synchronization issues that may degrade the quality of structured data. This may include its utility to scrub, clean, structure and transform data into usable queries. 2. Scoring: Describe the software s ability to use predefined business rules to flag data which present potentially fraudulent characteristics. 3. Text mining: Describe the methods the software uses to proactively scan structured and unstructured data for matching text, documents, images and other files. 4. Link Analysis: Describe the visual/social network link analysis capabilities. 5. Geographic Analysis: Describe the capabilities as it relates to geographic analysis through data mining and visual analysis. 6. Anomaly Detection: Describe the capabilities of integrating various systems to help detect policy and claim behavior which deviates from normal behavior. 7. Predictive Modeling: Describe the methods the software uses to create predictive models based on historical patterns. 8. Image/Text Recognition: Can the software detect/identify any similar objects or features in digital media or text across different claim or policy records? 9. Describe the software s ability to analyze all data points of the insurance cycle for fraud. This includes, but is not limited to: point of sale, underwriting, claims, accounting/payment and vendors. a. Does the software include any prebuilt rules, models or algorithms to flag claims, policies or other data points where fraudulent characteristics may exist? b. If yes, can the prebuilt rules/algorithms be changed or disabled? c. Describe the abilities an end-user has to manipulate these rules versus what requires vendor assistance. 10. Does your software have the ability to create new business rules and algorithms as market patterns and trends change? a. If yes, can an end-user create/alter business rules? 11. Describe any changes that are beyond an end-user s ability that will require vendor assistance and the associated fees. This includes: a. Setup of new data source (internal or external). b. Changes to vendor-provided rules, models, algorithms, etc. c. Creation of new business rules, models, algorithms, etc. d. Alteration of system functionality and behavior. RFI No.: , Fraud Analytics Software Page 3 of 6

4 E. Quality Assurance (QA): 1. Describe the process for identifying false-positive and false-negative outputs to improve data accuracy. 2. Describe how the software responds to identification of false-positive and false-negative outputs to improve data accuracy. 3. Describe how the software uses algorithms for self-learning to reduce false-positive and falsenegative results. F. Maintenance, Training and Support: Vendor may provide any type of maintenance plans, pricing, training materials or learning sources as it relates to their software. 1. Describe the maintenance, training and support services. a. What levels of support are available? b. What are the average response times for each level of support? c. What are the hours of operations for support services? 2. What type of documentation is provided for the software? 3. Describe the training materials offered at no additional cost. 4. Describe the training materials offered at an additional cost. G. User Administration: Vendor may provide information as it relates to user management, permissions, access and roles. 1. Describe the administration of users and the various levels of permissions. 2. Describe the various user roles the software contains. Are they customizable? 3. Describe any audit logs the software tracks as it relates to users, roles, permission, activity, etc. H. Personnel: Vendor may provide information on personnel provided by the Vendor and the typical personnel needed by their client to initiate and maintain the service. I. Integration: Vendor may provide information as it relates to the steps needed to integrate with Citizens systems. 1. Describe the efforts needed by the Vendor to complete any and all integration with Citizens systems. 2. Describe the customary involvement and resources that a Vendor client provides during integration stages. 3. Provide examples of typical integration timelines. J. Price Models: Vendor may provide any type of pricing models or plans as it relates to their software. 1. Describe the price models or plans available. 2. Describe price models for support, or various support levels, of the software. 3. Describe price models for implementation of the software. 4. Describe price models for training, both initial and on-going if applicable, of the software. RFI No.: , Fraud Analytics Software Page 4 of 6

5 IV. RESPONSE FORMAT AND INSTRUCTIONS Please provide your RFI response electronically on one (1) compact disk. Any information deemed appropriate by the Vendor may be included, but is requested to be placed within the following sections: A. Company Information: 1. Name 2. Company Address 3. Company Point-of-Contact for RFI Response 4. Point-of-Contact Phone Number 5. Point-of-Contact Address 6. Company Area(s) of Expertise 7. Length of Time Company has been in existence including company ownership details 8. Company Business Model B. Requested Information: Vendors are requested to provide at a minimum the information related to the software and services identified above in Section III of this RFI. C. Additional Information: Items regarding other products or services that Vendor can provide related directly to the above topics should also be included. Citizens may, in its discretion, request presentations or demonstrations as part of this RFI in order to better understand available legal billing review and audit resources in the marketplace. Responses should reference RFI No.: , and should be delivered to: Gregory Bickford, Procurement Officer Purchasing Department Citizens Property Insurance Corporation 2101 Maryland Circle Tallahassee, Florida Phone (850) citizens.purchasing@citizensfla.com REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK RFI No.: , Fraud Analytics Software Page 5 of 6

6 V. CALENDAR OF EVENTS Listed below are the important actions and dates / times by which the actions must be taken or completed. All listed times are local time in Tallahassee, Florida. Any change or modification to this calendar, modifications to this RFI, or other important notices will be accomplished by the posting of an addendum on the purchasing section of Citizens website, at CALENDAR OF EVENTS Date Time Action January 21,2015 RFI Released February 4, :00AM Questions Due February 18, 2015 March 11, :00PM Responses Due Answers to Written Questions Posted VI. PUBLIC RECORDS INFORMATION All responses to this RFI become the property of Citizens and may become a public record and subject to the provisions of the Florida Sunshine Law. By submitting a response, a Vendor acknowledges the requirements of the Florida Public Record laws found in Ch. 119, Florida Statutes and s. 24(a), Art. I of the Florida Constitution (the Public Record Laws ), and agrees to the provisions set forth in this section. Citizens is a public entity subject to the Public Record Laws. All responses and written communications regarding this RFI become public records upon receipt by Citizens and therefore are subject to public disclosure. If a Vendor asserts that any portion of its response or written communication is exempt from disclosure under the Public Record Laws (a Protected Record ) then the Vendor MUST comply with the following process: Clearly identify each portion of its Protected Record(s) that it believes is statutorily protected from disclosure; Submit a separate electronic copy of Vendor s response or written communication with only protected portions redacted; and If Vendor does not identify each portion of a Protected Record as specified herein, Citizens may produce Vendor s non-redacted copy in response to a public records request. If Vendor has complied with the provisions of this section and Citizens receives a public record request for a Protected Record, then Citizens will produce the redacted copy provided by Vendor in response to the public record request. If a request is made for the entire non-redacted Protected Record(s), then Citizens will promptly notify Vendor of the request. Vendor must take immediate and affirmative action to seek legal protection of its Protected Record(s) at issue. Citizens will not defend Vendor s claim in regard to this section. Failure by Vendor to take action in accordance with this section shall constitute a waiver of its assertion that the Protected Record(s) are exempt from disclosure under the Public Record Laws, and Citizens may either produce the Protected Record(s) or unilaterally submit the Protected Record(s) to the clerk of court for an in camera inspection and judicial determination to resolve the dispute. Citizens will not accept any material that requires a non-disclosure agreement. RFI No.: , Fraud Analytics Software Page 6 of 6