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A Resolution accepting the recommendation of the Procurement Officer to award the Group Life and AD&D Insurance Contract to Standard Insurance Company (The Standard), the highest ranked responsive-responsible proposer, pursuant to Section 2-763 of the Procurement Code entitled “Contract Award” and Request for Proposals (RFP) 2019-022.
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The purpose of this RFP is to award a qualified and experienced professional firm (“Proposer”) to provide Group Life and AD&D Insurance for the City’s group life and ad&d insurance program.
On June 14, 2019, the Procurement Division of Finance formally advertised, issued, and distributed Group Life and AD&D Insurance, Request for Proposals (RFP) 2019-022. Twenty-five (25) prospective proposers downloaded the RFP package from Public Purchase, the City’s web-based e-Procurement service.
On July 22, 2019, eight (8) firms submitted proposals in response to the RFP: Hartford Life and Accident Insurance Company; Life Insurance Company of North America; Metropolitan Life Insurance Company (Metlife); Minnesota Life Insurance Company; Standard Insurance Company (The Standard); Sun Life Assurance Company of Canada; Symetra Life Insurance Company; and USAble Life.
On August 23, 2019, the Evaluation Committee convened to evaluate the eight (8) responsive proposals and ranked the firms in the following order of preference: Standard Insurance Company (The Standard) (top-ranked); Metropolitan Life Insurance Company (Metlife) (second ranked); Hartford Life and Accident Insurance Company (third ranked); Symetra Life Insurance Company (fourth ranked); USAble Life (fourth ranked); Life Insurance Company of North America (fifth ranked); Minnesota Life Insurance Company (sixth ranked); and Sun Life Assurance Company of Canada (seventh ranked). The Evaluation Committee determined that Standard Insurance Company (The Standard) was the highest ranked responsive-responsible proposer. The Evaluation Committee further recommended that should...
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