Enhanced Care for Chronic Conditions in China

Background and Purpose

The landscape of insurance coverage for chronic illnesses and pre-existing conditions is rapidly evolving in China. The potential contingencies and emerging trends for critical illness within the population are becoming increasingly important. The SOA Research Institute is seeking comprehensive research to evaluate the morbidity and incidence rates of critical illnesses among individuals with chronic and pre-existing conditions, as well as those who have historically filed claims. This research aims to determine the potential benefits of innovative insurance product features and designs, including coverage for medical expenses, long-term care, retirement benefits, medical examinations and health management programs. The study will explore the implications of these features on underwriting practices, with a keen focus on assessing the inherent product value and the broader societal benefits.

Research Objective

The SOA Research Institute is seeking researchers to explore innovative insurance product designs and the associated morbidity rates of critical illnesses among individuals with chronic and pre-existing conditions. The following are examples of proposed topics that may be addressed:

• Implications for understanding underwriting practices, product value and societal benefits.
• Drawing on international experiences to identify risks and services that can be provided.
• Innovative product design targeting populations with pre-existing conditions in China.
• Beneficial features of insurance products for comprehensive care of chronic illnesses.
• Pricing frameworks for packages with combined benefits, including medical expenses, long-term care and health management.
• Morbidity rates for each chronic illness and the coverage provided by health insurance policies.
• Implications for understanding underwriting practices, product value, and societal benefits.
• Exploring the potential use of AI in pricing applications.

Note that the list above is not meant to be exhaustive but merely examples of proposed topics that may be researched.

Proposal Requirements

To facilitate the evaluation of proposals, the following information should be submitted:

1. Resumes of the researcher(s), including any graduate student(s) expected to participate, indicating how their background, education and experience bear on their qualifications to undertake the research. If more than one researcher is involved, a single individual should be designated as the lead researcher and primary contact. The person submitting the proposal must be authorized to speak on behalf of all the researchers as well as for the firm or institution on whose behalf the proposal is submitted.
   
   
2. An outline of the approach to be used (e.g. literature search, model, etc.), 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.
   
   
3. A description of the expected deliverables and any supporting data, tools or other resources.
   
   
4. Cost estimates for the research, 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.
   
   As a guide for developing the project budget, please review the Historical Project Cost Guide (see Appendix)
   
   
5. A schedule for completion of the research, identifying key dates or time frames for research completion and report submissions. The SOA Research Institute is interested in completing this project in a timely manner. Suggestions in the proposal for ensuring timely delivery, such as fee adjustments, are encouraged.
   
   
6. Other related factors that give evidence of a proposer's capabilities to perform in a superior fashion should be detailed.

Selection Process

The SOA Research Institute will appoint a Project Oversight Group (POG) to oversee the project. The POG is responsible for recommending the proposal to be funded. Input from other knowledgeable individuals also may be sought, but the POG will make the final recommendation, subject to Society of Actuaries Research Institute (SOA) leadership approval. An SOA staff research actuary will provide staff actuarial support.

Questions

Any questions regarding this RFP should be directed to Research-HCCT@soa.org

Notification of Intent to submit Proposal

If you intend to submit a proposal, please email written notification by June 14, 2024 to Research-HCCT@soa.org.

Submission of Proposal

Please email your proposal to Research-HCCT@soa.org; proposals must be received no later than June 28, 2024. It is anticipated that all proposers will be informed of the status of their proposal by the end of July 2024.

Conditions

The selection of a proposal is conditioned upon and not considered final until a Letter of Agreement is executed by both the Society of Actuaries Research Institute and the researcher.

The Society of Actuaries Research Institute reserves the right to not award a contract for this research. 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 Society of Actuaries Research Institute also reserves the right to redirect the project as is deemed advisable.

The Society of Actuaries Research Institute plans to hold the copyright to the research and to publish the results with appropriate credit given to the researcher(s).

The Society of Actuaries Research Institute may choose to seek public exposure or media attention for the research. By submitting a proposal, you agree to cooperate with the [Society of Actuaries/sponsoring entity] in publicizing or promoting the research and responding to media requests.

The Society of Actuaries may also choose to market and promote the research to members, candidates and other interested parties. You agree to perform promotional communication requested by the Society of Actuaries Research Institute which may include, but is not limited to, leading a webcast on the research, presenting the research at an SOA meeting, and/or writing an article on the research for an SOA newsletter.

Conflict of Interest

You agree to disclose any of your material business, financial and organizational interests and affiliations which are or may be construed to be reasonably related to the interest, activities and programs of the Society of Actuaries Research Institute.

Appendix

The cost ranges below are intended as a guide for budgeting project costs for proposals in response to SOA Research Institute Request for Proposals (RFP). Please note these figures span the 33rd to 66th percentiles for all projects as well as projects that involve a specific approach (lit review, survey, etc.). They are based on historical costs over several recent years. Expected costs for some RFPs may fall outside these ranges depending on the nature of the work and resources required for completion.

All Contracted Projects

This category includes all contracted projects that the Institute has undertaken within the last several years.

The 33^rd-66^th percentile project costs range is $25,000 - $50,000.

Literature Reviews

This category includes projects that involved only a literature review or the cost for the portion of a larger project that included a literature review.

The 33^rd-66^th percentile project costs range is $15,000 - $20,000.

Surveys

This category includes all projects that had a survey as their primary component.

The 33^rd-66^th percentile project costs range is $28,000 - $55,000.