NIISQ Actuarial Services

The National Injury Insurance Scheme Queensland (Scheme) providing lifetime treatment, care and support to persons seriously injured in motor vehicle accidents commenced on 1 July 2016. The National Injury Insurance Agency, Queensland (the Agency) is responsible for the administration of the Scheme and management of the fund. The Agency seeks to engage an external actuarial firm to provide comprehensive actuarial services to assist it to perform its functions.

Funding for the Scheme is by way of a levy paid at the same time as vehicle registration but is calculated on an annual basis. It is intended that analysis of this levy will be undertaken by an independent actuary to ensure adequacy of annual levy setting, so that the viability of the NIISQ can be maintained to deliver benefit entitlements to those persons seriously injured in motor vehicle accidents.

The scope of services includes:

1. development and implementation of a Lifetime Care Claim Cost Estimation Tool for the assessment of lifetime costs of certain decisions throughout the duration of a case
2. comprehensive actuarial reporting for the Agency
3. provision of general actuarial advice relating to the operations of the Scheme
4. preparation of special projects or special actuarial studies at the request of the Agency

A full specification is available in the Contract Details.

For detailed information on the specific goods / services sought under this tender, please review the "Specification Documents" in "Section 3 - Here is the detail".