Risk Management Educational Game RFP
BACKGROUND and PURPOSE
Strong enterprise risk management (ERM) frameworks support corporate objectives by managing potential impacts to capital and earnings, which are relevant to many stakeholders throughout the organization. Despite this, ERM activities are not always understood outside of the immediate practitioners.
The purpose of this project is to develop an interactive approach to educate insurance professionals on the link between risk management decisions and financial objectives.
EDUCATIONAL GAME OBJECTIVE
The Joint Risk Management Section (JRMS) is seeking applicants to develop a game that can be used to illustrate risk management concepts to participants. The expectation is that this game may involve role playing and team exercises, though different approaches will also be considered. The following are examples of proposed topics that may be addressed in an insurance context:
- How does risk impact financial objectives?
- Are some risks better than others?
- What strategies are used to manage risks?
- What conditions can cause company success or failure?
- What are the different roles and responsibilities involved in risk decisions?
Note that the above list is not meant to be exhaustive but merely examples of proposed topics that may be explored.
The applicant will develop a game and work with the JRMS to run the game. The applicant should indicate the setting of the game:
- a workshop within a role-playing game format, like a table top exercise (with or without computer) that can be played at future industry events with participants and game leader(s); participation on site and/or remotely
- a computer and/or smartphone / tablet game
- combination or other settings.
To facilitate the evaluation of proposals, the following information should be submitted:
- Resumes of the applicant(s), including any graduate student(s) expected to participate, indicating how their background, education and experience bear on their qualifications to undertake the project. If more than one person is involved, a single individual should be designated as the lead and primary contact. The person submitting the proposal must be authorized to speak on behalf of all the team members as well as for the firm or institution on whose behalf the proposal is submitted.
- An outline of the approach to be used, delivery method and expected time involvement for both the design and the delivery of the game, outline of topics to be addressed and expected learning by participants, emphasizing issues that require special consideration. Details should be given regarding the techniques to be used, collateral material to be consulted, and possible limitations of the analysis.
- A description of the target audience for this game (e.g. non-actuarial C-Suite member, mid-level actuary)
- A description of the expected deliverables and any supporting data, tools or other resources.
- Cost estimates for the project, including computer time, salaries, report preparation, material costs, etc. Such estimates can be in the form of hourly rates, but in such cases, time estimates should also be included. Any guarantees as to total cost should be given and will be considered in the evaluation of the proposal. While cost will be a factor in the evaluation of the proposal, it will not necessarily be the decisive factor. The cost should be split between development and delivery of the game.
- A schedule for completion of the project, identifying key dates or time frames for project completion and submissions. The JRMS is interested in completing this project in a timely manner. Suggestions in the proposal for ensuring timely deliver, such as fee adjustments, are encouraged.
- Other related factors that give evidence of a proposer's capabilities to perform in a superior fashion should be detailed.
The JRMS will appoint a Project Oversight Group (POG) to oversee the project. The POG is responsible for the selection of the proposal to be funded. Input from other knowledgeable individuals also may be sought, but the POG will make the final decision. The SOA's Staff Fellow will provide staff actuarial support.
Any questions regarding this RFP should be directed to
, SOA Staff Fellow.
NOTIFICATION OF INTENT TO SUBMIT PROPOSAL
If you intend to submit a proposal, please e-mail written notification by Feb. 28, 2017 to
SUBMISSION OF PROPOSAL
Please e-mail a copy of the proposal to
Proposals must be received no later than April 28, 2017. It is anticipated that all proposers will be informed of the status of their proposal by the end of June 19, 2017.
Note: Proposals are considered confidential and proprietary.
The JRMS reserves the right to not award a contract for this project. Reasons for not awarding a contract could include, but are not limited to, a lack of acceptable proposals or a finding that insufficient funds are available. The JRMS also reserves the right to redirect the project as is deemed advisable.
Copyright in the final game and all related materials must be assigned jointly to the Society of Actuaries (SOA), Casualty Actuarial Society (CAS) and Canadian Institute of Actuaries (CIA).
The JRMS may choose to seek public exposure or media attention for the game. By submitting a proposal, you agree to cooperate with the JRMS in publicizing or promoting the game and responding to media requests.
The JRMS may also choose to market and promote the game to members, candidates and other interested parties. You agree to perform promotional communication requested by the JRMS, which may include, but is not limited to, leading a webcast on the game, presenting the game at an SOA/CAS/CIA meeting, and/or writing an article on the game for an SOA/CAS/CIA newsletter.