Re equestt for Infformattion (R RFI) Requ R est for f In nform mation (RFI) CEA Ea arthqu uake In nsurance: C Centra alized Po olicy Proce P ssing Novem N ber 7, 2014 Property of The Califfornia Earthq quake Autho ority (CEA) Page 1 Re equestt for Infformattion (R RFI) CEA Backgroun nd The Califo ornia Earthquake Authority y (CEA) is a publicly p manag ged, privatelyy funded orga anization whose mission is s to provide re esidential eartthquake insurrance and en courage Califfornians to re educe their rissk of earthquak ke damage an nd loss throug gh effective risk education,, damage mittigation, and insurance protection n. The CEA op perates on a not-for-profit basis. In the eve ent Californian ns suffer earth hquake dama age to their ho ome or perso nal property, CEA provides policyhold ders the Stren ngth to Rebuilld®. CEA has more than $1 10 billion in cllaim-paying ccapacity, conssisting of its own capital, reins surance and other o risk-tran nsfer contractss, revenue-bo ond proceedss, and conting gent ents on its participating ins surance (PI) companies. c assessme CEA polic cies are sold and a serviced— —and CEA claims are adju usted—exclussively through h CEA’s 19 PIs. CEA cove erage can be purchased on nly through th he PI that provvides the resiidential prope erty insurance e policy. No on-PIs cannott sell CEA insurance. A list of pa articipating insurers is available at www w.EarthquakeA Authority.com m. How CEA A Was Forme ed; Governan nce Following the unpreced dented losses s from the 199 94 Northridge e earthquake,, many insura ance companiies either cea ased or severe ely restricted the sale of ne ew homeown ners insurance e policies in C California. In response,, the California Legislature e created the CEA C to provid de earthquake e coverage th hroughout California. CEA began writing insura ance effective e December 1 1, 1996. Overseein ng the CEA is s a three-votin ng-member Governing G Boa ard composed d of the Gove ernor, State Treasurerr, and Insuran nce Commissioner; the Spe eaker of the A Assembly and d President P Pro-Tempore o of the Senate se erve as non-v voting membe ers. An 11-me ember Advisorry Panel conssisting of conssumer and insurance e-industry representatives advises a the Governing G Boa ard. What the CEA Offers dential insurance policies do d not cover earthquake e d amage–a sep parate policy is required. Most resid Without earthquake ins surance to he elp cover the costs c of repaiirs and other expenses tha at come with hic earthquak ke damage, homeowners must m pay out of pocket to ffix or rebuild ttheir house, catastroph replace th heir personal property, and d live and eat elsewhere. CEA’s sta andard Homeo owners Policy y offers reside ential earthqu uake coverage, which inclu udes full cove erage for the dw welling, as well as coverage e for personal property and d for additiona al living expenses required d when a ho ome becomes s uninhabitab ble because of o an earthqua ake. In July 2012, CEA intro oduced a Hom meowners Ch hoice policy, o offering policyyholders addittional coverag ge options to o help them crreate the right policy to fit their t needs. T The Homeown ners Choice p policy also de elivers more imm mediate policy y benefits after an earthqua ake. The CEA also insures mobilehome owners, rente ers, and cond dominium-unitt owners. Property of The Califfornia Earthq quake Autho ority (CEA) Page 2 Re equestt for Infformattion (R RFI) Introduction The Califfornia Earthq quake Authorrity (CEA) inttends to issu ue Requests s for Proposa als (RFP) by Decembe er 31, 2014 fo or the purpos se of possibly purchasin ng a full-func ction insuran nce-policy an nd claim-pro ocessing sys stem, insuran nce-processing services s, or the indiv vidual compo onents requiired to obtain an end-to-end solution. To facilitate e the develop pment of the ese RFPs, the e CEA is issu uing this Requ uest for Inforrmation (RFI)) in order to identify a ba aseline of pro oduct and se ervice offerin ngs. Responses are due to o the CEA by y COB Friday y, Novemberr 21, 2014. Reque est Summa ary 1. The CEA C has identtified the follo owing insurance software a and insurance e processing services requirrements and requests r inforrmation about prospective vendors’ pro oduct and servvice offeringss that meet these require ements: a. Provide a solution that t centralize es policy-proccessing for bo oth new CEA residential earthq quake insuran nce business and a more tha an 850,000 in--force CEA ea arthquake insurance policies currently c adm ministered sep parately by ea ach of the CEA A’s 19 PIs. esired solution must includ de full-service e software to ssupport saless, administration, b. The de and cla aim functions s (not including claim-adjussting). c. The de esired solution (optionally) would includ e third-party processing se ervices to sup pport some or all of the va alue-chain functions assocciated with residential-eartthquake-insurrance administration. oftware and optional o proce essing service es must suppo ort policy and d claim d. The so administration from a multitenant perspective (representing g each participating insure er ome unique va ariations in fu nctions appliccable to the rrespective individually, with so particip pating insurerrs). g and must p e. The so oftware must securely supp port multitena ant processing provide secure e user access s to the CEA, participating insurers, pol icyholders (fo or self-service e functions), a and third parties that support the CEA A and its partticipating insu urers. f. oftware must either be hos sted by the ve endor or licenssed to and ho osted by the C CEA The so as an on-premises application. vide services ffor software cconfiguration,, conversions, and g. The prrospective vendor will prov other set-up s and tra ansition activitties. h. Provide ongoing-so oftware servic ce maintenancce and end-usser support. Property of The Califfornia Earthq quake Autho ority (CEA) Page 3 Re equestt for Infformattion (R RFI) 2. CEA is seeking a vendor with ALL of the following f cha aracteristics s – please co onfirm each chara acteristic and d provide additional supp porting inforrmation as needed: a. The su uccessful ven ndor must: i. have at least fiv ve property-an nd-casualty-In nsurance-com mpany custom mers; ii. ed in the Unite ed States, witth a presence e in California a; be headquartere iii. hav ve been in business for at least l the pastt five, conseccutive years; iv. if lic censing on-prremises softw ware, offer its solution functtionally within n a Microsoftplattform environment; and v. If hosting the pro oposed softwa are as a servvice, the hostin ng data cente er must have 6 Type II repo orting. current SSAE 16 3. CEA requests the e vendor to: a. Provide in either wrritten or electrronic formats any descriptiions, diagram ms, documenta ation, literatu ure, and spec cifications for the t proposed vendor softw ware and optio onal processing service es described in items 1 and 2, above. b. Compllete and returrn your respon nse to the RF FI to the CEA by Friday, No ovember 21, 2014 by eith her email or hardcopy as specified below w. Email responses to: melavicm@calquake e.com ardcopies to: Mail ha California Earthquake e Authority ogy, CPP RFII Information Technolo Attn: Michael Melavicc S Suite 1 000 801 K Street, Sacramento, CA 958 814 c. After completing c an nd returning its s RFI respon se, contact th he CEA to sch hedule a one--hour, tailored, live demo of o the proposed solution, in ncluding a disscussion of optional servicces. Property of The Califfornia Earthq quake Autho ority (CEA) Page 4
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