Closed

Actuarial Services

Tender ID: 522020

Tender Details

Organisation:
Victorian Workcover Authority
Tender #:
FOL/21/5059  
Status:
Closed
Publish Date:
22 March 2023
Closing Date:
21 April 2023

Tender Description

⁠⁠⁠WorkSafe is seeking to appoint a provider of Actuarial Services. 

WorkSafe seeks to operate in a financially responsible and sustainable manner. Consistent with this objective, actuarial services are utilised to, amongst other things:

  • provide an independent estimate of the outstanding claims liability for the balance sheet;
  • determine actuarial change from the balance sheet;
  • provide an estimate on the margin in premium;
  • provide input into pricing decisions;
  • advise on financial sustainability; and
  • assist with the evaluation of material changes to the scheme’s benefit and entitlements.

    • The Service Agreement will include a transition term, a 5-year initial contract term, plus a two-year optional extension period. The transition period is expected to commence in September 2023 and the 5-year initial term will commence on 1 January 2024.

    Location

    Victoria   :   Barwon South West   :   Gippsland   :   Grampians   :   Hume   :   Loddon Mallee   :   Melbourne  

    Category

    Financial & Insurance Services   :   Insurance & Actuarial Services  

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