Actuarial & Catastrophic Modeling Consulting Services
ID: FID11262024Type: Sources Sought
Overview

Buyer

HOMELAND SECURITY, DEPARTMENT OFFEDERAL EMERGENCY MANAGEMENT AGENCYMITIGATION SECTION(MIT60)WASHINGTON, DC, 20472, USA

NAICS

All Other Insurance Related Activities (524298)

PSC

SUPPORT- PROFESSIONAL: OTHER (R499)

Original Source

https://sam.gov/opp/c942b871d63349a19ebf92aa863da815/view
Timeline
    Description

    The Department of Homeland Security, specifically the Federal Emergency Management Agency (FEMA), is seeking qualified contractors to provide Actuarial and Catastrophic Modeling Consulting Services to support its Actuarial & Catastrophic Modeling Branch and enhance the National Flood Insurance Program (NFIP). The primary objectives include identifying sources for staff augmentation, improving methodologies for pricing natural catastrophe risk, and enhancing data validation processes. This initiative is crucial for advancing FEMA's capabilities in flood risk assessment and ensuring the reliability of premium calculations within the NFIP. Interested parties must respond electronically by December 18, 2024, with detailed information about their qualifications and past performance, and can direct inquiries to Valerie Almodovar at valerie.almodovar2@fema.dhs.gov or Bryan Falcone at bryan.falcone@fema.dhs.gov.

    Point(s) of Contact
    Valerie Almodovar
    valerie.almodovar2@fema.dhs.gov
    Bryan Falcone
    (202) 316-0527
    bryan.falcone@fema.dhs.gov
    Files
    Title
    Posted
    RFI Actuarial Catastrophic Modeling Branch 11.26.2024.docx
    The Federal Emergency Management Agency (FEMA) has released a Request for Information (RFI) to gather market insights for actuarial and consulting services to support the National Flood Insurance Program (NFIP). This RFI aims to identify potential sources that can assist in improving actuarial capabilities and methodologies within FEMA’s Actuarial & Catastrophic Modeling Branch. Interested contractors should submit their responses electronically by December 13, 2024, detailing their qualifications, past performance, and capability statements concerning flood risk assessment and catastrophe modeling. The document outlines specific questions to guide submissions, focusing on areas such as gaps in current methodologies, advancements in geospatial data integration, and risk management strategies. Notably, the RFI emphasizes the importance of addressing potential conflicts of interest and maintaining proprietary information confidentiality. By collecting detailed responses, FEMA seeks to shape its acquisition strategy while enhancing its flood risk assessment policies and premium calculations, with a performance start date anticipated for September 29, 2025. This initiative underscores FEMA’s commitment to advancing the NFIP through innovative solutions and improved operational effectiveness.
    RFI Actuarial Catastrophic Modeling Branch 11.26.2024 (Rv1).pdf
    The Federal Emergency Management Agency (FEMA) issued a Request for Information (RFI) on November 26, 2024, focused on acquiring actuarial consulting services to support its Actuarial & Catastrophic Modeling Branch and enhance the National Flood Insurance Program (NFIP). This RFI seeks to identify potential sources for staff augmentation and methodological improvement, emphasizing the need for expertise in pricing natural catastrophe risk and data validation. Interested contractors must respond electronically by December 18, 2024, and include comprehensive information about their capabilities and relevant past performance. FEMA outlines a series of questions aimed at assessing the potential contractors' experience with flood risk assessment, methodologies for integrating geospatial data, and innovative practices for improving NFIP's risk rating methodology. Key topics include identifying gaps in existing methodologies, advancements in data integration and catastrophe modeling, and the development of risk rating factors. Respondents are invited to highlight their experience, particularly in relation to emerging technologies like machine learning and GIS tools. The document emphasizes that responses to the RFI will inform strategic planning but do not constitute a binding government contract.
    RFI Questions and Answers_Actuarial and Catastrophic Modeling Consulting Services.pdf
    The document pertains to a Request for Information (RFI) by FEMA on Actuarial and Catastrophic Modeling Consulting Services dated November 26, 2024. It addresses inquiries regarding procurement processes related to actuarial consulting, indicating that the geospatial and actuarial components will be handled separately, albeit with the actuarial consultant providing necessary geospatial insights. The RFI combines elements of contractor capability statements and past performance assessments, allowing respondents to use a unified answer for related queries. Additionally, the document seeks clarification on FEMA's premium calculation processes, highlighting a desire to mitigate inconsistencies caused by manual entry errors across various systems. The overarching purpose of the RFI is to gather expertise to enhance the pricing of natural catastrophe risks and to improve the reliability of premium calculations within FEMA’s rating structure, thereby ensuring better service delivery and data integrity.
    Lifecycle
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    Actuarial & Catastrophic Modeling Consulting Services
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