State of Utah Division of Purchasing

Buyer seeks professional actuarial services for eligible users within the State of Utah. The contract will run for twelve years with pricing guaranteed for two years. The procurement may result in multiple awards with a technical criteria threshold of 450/600 points. Vendors must be licensed to work in Utah and have properly certified actuaries.

• 5/23/2025 - Open Date
• 6/6/2025 - Questions Due Date
• 6/23/2025 - Proposal Due Date

• Licensed to work in the State of Utah
• Supervising Actuary meets American Academy of Actuaries Qualification Standards
• Supervising Actuary is Fellow/Associate of Society of Actuaries or equivalent

• Perform actuarial analysis and valuation services
• Provide certification of actuarial assumptions and methodologies
• Develop rate models and premium calculations
• Conduct risk assessments for insurance programs
• Evaluate financial impact of benefit design changes
• Perform liability forecasting and trend analysis
• Provide actuarial consulting for state benefit programs
• Create financial projections and cost estimates
• Analyze claims data and develop predictive models
• Assist with regulatory compliance reporting