REQUEST FOR QUALIFICATIONS (RFQ) FOR PROFESSIONAL SERVICES
FOR
INSURANCE AGENCY SERVICES [CITY OF EAST GRAND RAPIDS]
APRIL 11, 2016
SECTION 1 – GENERAL INFORMATION
The City of East Grand Rapids (the City) is requesting statements of qualifications (RFQ) from Insurance Agencies to become the Agent of Record for the City’s Property and Casualty Insurance programs, effective July 1, 2016. The City’s current insurance policy expires on November 1, 2016.
Background
The City has historically requested competitive bids for the agent and insurance company (as a package) every five years. The last competitive bid was completed six years ago. The overall objective of the RFQ is to select an agent/broker to represent the City. This firm, after the selection has been confirmed by the City Commission, will then go to the insurance market on the City’s behalf.
The City’s current program is an “all lines aggregate” form of coverage, which includes: • General Liability
• Property/Inland Marine Coverage • Auto Coverage
• Employee Benefit Plan Administration Liability • Law Enforcement Liability
• Public Entity Management Liability • Employment Practices Liability • Commercial Crime
• Umbrella Coverage
The City’s employee benefit insurance (health and dental, life, disability, worker’s compensation, etc.) is not included in this program.
The City of East Grand Rapids is a community with a population of over 10,000 people with a total budget of approximately $22 million. Our audited financial statements and yearly budget can be found at www.eastgr.org.
SECTION 2 – INFORMATION TO BE INCLUDED IN THE RFQ A. Agency Overview
Agency Information
Provide a general overview of your firm including areas such as size, reach, number of locations, and any other additional information that creates an advantage for benefiting the City of East Grand Rapids. In addition to this information, please supply the City with your Agency’s Errors & Omissions Certificate of Insurance.
Leadership
Describe how your leadership team will interact with the City of East Grand Rapids and your Agency's Service Team.
B. Service Team
Service Team
Provide an organizational chart of the proposed account team who will be servicing the risk of the City of East Grand Rapids. Describe their responsibility to our account and include a biographical description that lists their positions and years of experience. Servicing
Explain your servicing model. Areas of Expertise
List any divisions of expertise your agency may have. Also include the individuals within these divisions and the resources that may benefit the City of East Grand Rapids.
C. Marketing Marketing
Describe the process by which your firm manages insurance placement. Please include details on the collection of underwriting data, communication to underwriters, the negotiation process and final presentation to the City of East Grand Rapids.
Explain how your agency would provide assessments of our program in terms of industry norms, relative size and how these factors would affect markets for our program. Please provide specific examples.
Describe your firm’s approach on accessing the insurance market and negotiation of terms. Explain what distinguishes your firm’s approach from other firms and how these results are measured.
Explain your ability and experience to identify and/or review new exposures based on developments in the market and make recommendations as to the types, availability and extent of coverage.
Exclusive Products, Programs, and Solutions
List and describe any exclusive products, programs, and/or solutions that will make an impact for the City of East Grand Rapids, providing examples as to how this helped make an impact for other clients.
Client Service & Renewal Process
Describe your agency services that will be provided to the City of East Grand Rapids during the course of a year. Please provide an illustrative outline for what the City of East Grand Rapids can expect throughout the policy period and at time of renewal.
Provide examples of analysis and reporting typically provided to your clients in preparation for placement and renewal meetings.
D. Risk Capabilities Risk Management
Provide an example of your risk analysis and include the fee associated with your risk management team.
Explain your agency’s ability to assist in developing emergency, crisis management and contingency plans.
List other risk management related services your agency offers that the City of East Grand Rapids may utilize.
Provide detail of your agency’s experience and outcomes in proactively managing insurance programs similar to the City of East Grand Rapids. Provide description of services to proactively manage financial and physical risk.
Explain your process for delivering results to your clients through your firm’s Risk Management team and indicate how this will benefit the City of East Grand Rapids.
E. Claims Services Claims Process
Provide a detailed description for your agency’s ability to manage claims for the City of East Grand Rapids in the event losses occur, while describing your methods of consultation. Please include names and background on personnel to be assigned to submitting our claims.
F. Communication
Describe your approach to communicating with the City of East Grand Rapids and provide examples of those communications. Describe when your staff would be available to meet in person and how often you might foresee the need to meet. Describe any additional communication services you would provide and that you believe are necessary to the engagement.
G. Education / Training / Online Resources Client Resources
Describe any training seminars or website services your organization provides as a part of your consulting services to your clients. Please include costs associated with these. Identify any additional enhanced and/or value-added services your firm can provide that may be of interest to the City of East Grand Rapids.
H. Compensation / Transition Compensation
Describe your philosophy relative to agency compensation including what forms of compensation and/or arrangements are offered to your clients.
For those interested in bidding, the City’s existing Policy Coverage Summary is available upon request. We would like your firm to provide the expected fee/commission based on our historical premium cost and coverage. If additional information is needed to estimate the fee/commission, please present a written request (email is preferred). All firms making the request for the Policy Coverage Summary will be given the same data. Please include the services/resources the City of East Grand Rapids can expect to be included for the compensation received by your agency.
Transition
Transition / Implementation Plan – Provide a work plan that describes and identifies, in chronological order, what the transition process would be, as applicable. Include any and all materials and resources which you provide to clients that enhance value for your client services (i.e. reports that you create or use with clients).
I. References / Other References
Please provide names, addresses, telephone numbers and individual contacts of at least three current accounts of similar size and complexity handled by the servicing office. Please include municipal clients your office currently handles if applicable.
Describe any other facets of your organization and your firm’s experience that are relevant to this proposal, that have not been previously described and that warrant consideration.
INQUIRIES:
If you have any questions regarding this RFQ, please direct them to Karen Mushong at (616) 949-2110 or via email at [email protected].
QUALIFICATIONS RESPONSE DATE:
Qualification statements will be received until 10:00 a.m., Friday, May 6, 2016. Please provide three (3) hard copies and (1) electronic version to:
Karen Mushong, Finance Director City of East Grand Rapids
750 Lakeside Dr. Se
East Grand Rapids, MI 49506 kmushong@eastgr. org
RFQ SCHEDULE
April 11 RFQ distributed and posted on website May 6 RFQ deadline at 10:00 am
May 13 Invitations to firms to be interviewed TBD First round interviews (90 minutes max) TBD Second round interviews (if needed)
June 20 City Commission approves Agent of Record
Dates are subject to change but will be held as close as possible with hopes of obtaining formal approval before July 1, 2016.
CRITERIA FOR SELECTION:
It is the City’s intent to eventually contract with the firm whose proposal is deemed most advantageous in experience, qualifications, cost and other factors.
The City reserves the right to consider modifications to any proposal received at any time before the award is made, if such action is in the best interest of the City.
All eventual proposals must remain valid for at least ninety (90) days from the date of submission. Firms who submit proposals may be required to make oral presentations. These presentations will provide an opportunity for firms to clarify their proposals, as well as provide a forum for questions.
A team consisting of City staff will decide which firms will be considered for the interviews. That team will also make the recommendation to the City Commission regarding the firm best suited to become the agent of record.
REJECTION OF PROPOSALS:
The City reserves the right to reject any and all proposals received as a result of this RFQ and to negotiate separately in any manner necessary to serve the best interest of the City. INCURRING COSTS
