In the interest of providing continuing value to its membership, the Health Section Research Team of the Society of Actuaries welcomes proposals at any time for projects that result in information, data, or tools useful to practicing health actuaries.

The specific subject matter, methods, and presentation of results are intentionally undefined in this RFP, with the hopes that many unique and valuable projects will be proposed.

• Development of a spreadsheet or other tool health actuaries can use to perform their jobs.
• A literature review on a topic of interest to health actuaries. An exploration of the use of data mining techniques and sources of data for health actuaries.
• A research project involving data collection and analysis. (This may include a small project intended to move forward a larger project being sponsored by the Health Section Research Team.)
• An investigation of the impact of economic variables on long term and short term disability products.
• Development and presentation of a modeling technique that provides a creative solution to a common problem faced by health actuaries.

PROJECT OVERSIGHT

 
The Health Section Research Team will convene a project oversight group for each project that is selected for sponsorship. The project oversight group will oversee the progress of the project. This oversight group may include members of the Health Section Council, Society staff, and/or others who are knowledgeable in the subject matter of the proposal.

FUNDING

 
Projects will be funded or partially funded by the Health Section of the Society of Actuaries. The Section will commit funds on a project by project basis, depending on the perceived value of a project to the membership as determined during the selection process (described below). Larger budget projects may require joint funding with other groups within the SOA and/or other organizations. This may lengthen the decision time for awarding of such projects.

SCHEDULE

 
Proposals are welcome any time and will be reviewed for funding consideration by the Health Section Research Team at its next meeting after receipt of the proposal.

To facilitate the evaluation of proposals, the following information should be submitted:

1. Purpose–a discussion of the expected output and content. For example, if the work product is to be a report, include an outline of the report as well as a description of what will be included in each section. If the work product is to be a computer tool, include a description of the anticipated software and hardware requirements, expected user interface (for example, Excel or Access), and the form that user instructions will take.
2. Data–sources to be used, how obtained, etc.
3. Expected Use– expectation of how the research can be used and ideas for the form and distribution of the work.

This section must also include a discussion about the value of this project to the members of the Health Section, including examples of how the work product can be used by practicing health actuaries, as well as a discussion of how the project may be of interest to, or results used by other parties, inside and outside of the Society of Actuaries.

In addition, this section should describe how the work product can be efficiently distributed to members of the Health Section. The section should also address if and how the work product might be made available to other parties.

Finally, the section should indicate any desire of the proposer(s) to submit the results of this work for inclusion in a Society sponsored publication (such as the North American Actuarial Journal, TSA Reports, or SOA Monograph Series) or publication sponsored by another organization. If the results are published outside the SOA, the resulting article or other piece must be made available to members of the Health Section at no charge. The proposer(s) are responsible to make any arrangements with the publishing organization that are needed to ensure such access.

4. Methods–an outline of their development or selection. This section of the proposal should include a presentation of the steps that will be undertaken to complete the project and the steps that will be taken to ensure the quality of the work product to be delivered.
5. Limitations–any potential limitations of the research.
6. Schedule–A schedule for completion of the research, identifying key dates or time frames for research completion and report submissions. Note that while longer–term projects will not be excluded from consideration if they will provide a unique benefit to the membership, the Health Section Council does have a preference for shorter–term projects, to be completed within a six–month time frame.
7. Cost–Cost estimates for each work step identified in Section V (D), including charges for professional time and any other expenses (such as administrative assistance, computer or phone charges, travel expenses, and the like).  Such estimates can be in the form of hourly rates, but in such cases, time estimates should also be included.

A guarantee as to total cost must be given and will be considered in the evaluation of the proposal. However, while cost will be a factor in the evaluation of the proposal, it will not necessarily be the decisive factor.

This section should also include a description of billing practices and a proposed payment schedule. This proposed payment schedule should withhold some reasonable portion of the total proposed budget until the final work product is delivered.

8. Researchers–This RFP may be responded to by more than one person, company or institution in a team arrangement. In this section, provide resumes(s) of the professional(s) who will be working on the project, and a description of how the background, education and experience of the researchers bear on qualifications to undertake the work described.

If more than one professional is involved, the role of each participant in the research is to be clearly indicated. The project team should include one or more professionals who will serve a peer review/quality control function. In addition, a single individual should be designated as the lead researcher and primary contact authorized to speak on behalf of all proposers as well as for the firm or institution on whose behalf the proposal is submitted.

9. Researchers–This RFP may be responded to by more than one person, company or institution in a team arrangement. In this section, provide resumes(s) of the professional(s) who will be working on the project, and a description of how the background, education and experience of the researchers bear on qualifications to undertake the work described.

The Health Section Research Team of the Society of Actuaries is responsible for proposal review and evaluation of proposals and the selection of projects to be sponsored. Input from other knowledgeable individuals also may be sought, but the Health Section Research Team will make the final decision.

The projects to be sponsored, if any, will be selected based on their perceived value to the membership as determined by the Health Section Research Team. In determining “value,” the Section will consider factors such as cost, usefulness to the “average” health actuary, and uniqueness.

Any questions regarding this RFP should be directed to:

Steven Siegel, SOA Research Actuary
Society of Actuaries
475 N. Martingale Road, Suite 600
Schaumburg, IL 60173–2226.

ph: 847.706.3578
f: 847.273.8578

If you intend to submit a proposal, please send written notification to:

Steven Siegel, SOA Research Actuary
Society of Actuaries
475 N. Martingale Road, Suite 600
Schaumburg, IL 60173–2226.

ph: 847.706.3578
f: 847.273.8578

Please e–mail a copy of the proposal to:

Barbara Scott, SOA Research Administrator
Society of Actuaries
475 N. Martingale Road, Suite 600
Schaumburg, IL 60173–2226.

ph: 847.706.3592
f: 847.273.8592

Note: Proposals are considered confidential and proprietary.

The Health Section Research Team reserves the right to not award any contracts for the work described in this RFP, without reason. The Society of Actuaries also reserves the right to modify the project as is deemed advisable, before sponsorship is awarded.

The Society of Actuaries intends to copyright and publish the results of this work. The research will be considered work–for–hire and all rights thereto belong to the Society of Actuaries. However, appropriate credit will be given to the professionals who produced the work.

Send copies of proposals to:

Barbara Scott, SOA Research Administrator
Society of Actuaries
475 N. Martingale Road, Suite 600
Schaumburg, IL 60173–2226.

ph: 847.706.3592
f: 847.273.8592