CASUALTY ACTUARIAL SOCIETY
Request for Proposal
1. Casualty Actuarial Society (CAS)
The CAS was organized in 1914 as a professional society for the promotion of actuarial and statistical science as applied to insurance other than life insurance, such as automobile, liability other than automobile, workers compensation, fire, homeowners, commercial multiple peril, and others. Such promotion is accomplished by communication with those affected by insurance, presentation and discussion of papers, attendance at seminars and workshops, collection of a library, research and other means. The membership of the CAS includes over 2900 actuaries employed by insurance companies, industry advisory organizations, national brokers, accounting firms, educational institutions, state insurance departments, the federal government and independent consultants.
2. Committee on [____________________]
The Committee on [____________________] is charged with [statement of purpose of committee]. [Committee Name] will sponsor the research to be conducted under this RFP on behalf of the CAS.
3. CAS Interest in the Subject
The CAS wishes to [description of purpose of RFP for CAS].
4. Research Problem Description (sample wording)
[Background on RFP topic.]
The [Committee] requests proposals from qualified researchers to produce a research document that solves one or more of the following problems:
A) [Research question]
The Committee is looking for ideas that would, in the judgment of the Committee, represent a significant advance. The researcher could produce results along one or more of the above approaches or present a completely new way of viewing and solving the problem.
B) [Research question]
Here again, the Committee is looking for ideas that would, in the judgment of the Committee, represent a significant advance.
The research for these projects will be performed under contract and funded by the CAS. It is expected that the researcher(s) will work with representatives of the Committee on the specific design of the project.
5. Project Requirements (sample wording)
- Literature Survey: The paper should survey actuarial as well as other technical literature for any research relating to these issues and include a bibliography of such research.
- Proof of solution: The author would be required to include within the paper proof that the solution is mathematically valid.
- Practical solution: The solution should be presented in a form that a practicing actuary can implement in a practical manner solely from reading the paper. Inclusion of software that would be available to CAS members would be a plus. At a minimum, an algorithm in some suitable form must be provided.
6. Proposal Requirements (sample wording)
Proposals should include a clear outline of the work that will be performed and the time frame in which it will be performed (including key dates). The more specific the better.
This proposal should be reviewed in conjunction with the attached Research Agreement which defines the terms and conditions under which the work is performed.
The proposal should be accompanied by the resumes of the researcher(s), indicating how their background, education, and experience bear on their qualifications to undertake the research.
Respondents should demonstrate their interest in and familiarity with the application of [research topic] by including a resume (if a firm, of the principal consultant(s) performing or directing the work) showing relevant work/research experience and professional accomplishments (e.g.. papers published).
The contract will be awarded by the CAS to the respondent who, in the judgment of the [Committee Name] and entirely on the basis of his or her written proposal, is best able to perform the work as specified herein. If the [Committee Name] determines that no proposal meets the requirements of the RFP, then no contract will be awarded.
Receipt of proposals will be acknowledged by providing each respondent with a list of all respondents. Respondents not awarded the contract will be so informed shortly thereafter.
Interested researchers should submit their proposals and any questions in writing to:
[Committee Member Coordinator]
Casualty Actuarial Society
4350 N. Fairfax Dr. Suite 250
Arlington, VA 22203
Phone: (703) 276-3100
Fax: (703) 276-3108
The proposals will be reviewed by members of a subcommittee of [Committee Name]. The current membership of the [Committee Name] includes:
7. Schedule (sample milestones)
Deadline for questions (must be written) from researchers regarding the RFP.
All written questions together with their answers will be distributed to all proposers.
Proposal deadline - end of business day
Proposal selection by [Committee Name]
A maximum total of [dollar amount] is available to be awarded to one or more researchers. Payment of award(s) will be contingent upon delivery of an acceptable research product.
9. Presentation, Ownership and Publication of Report
If asked, the researcher(s) agree to be available to present the report at a CAS meeting or seminar. If travel is required, reasonable expenses will be paid in addition to the compensation provided in Section 8.
As a condition of selection, the CAS requires that all right, title, and interest, including copyright and patent, in and to the report be owned by the CAS. The selected researcher must sign a formal Agreement (attached) that assigns all such rights to the CAS. Of course, in any publication of the report, the researcher will receive appropriate credit. The CAS may publish the report in any CAS publication, including electronic versions such as on its Web site or on compact discs.
10. Research Agreement