Data Warehouse and Analytics Tool

The vendor is required to provide data warehouse and analytics tool to the county for their self-insured medical, dental, and Rx plans.
a. Data storage, security, and management:
•    Centralized data storage: collect and store comprehensive insurance-related data, including claims, premiums, actuarial reports, and policy details, in a structured and accessible manner. 
•    Enhanced risk analysis: utilize historical data to identify trends, predict risks, and refine underwriting processes for better coverage decisions. 
•    Improved claims management: track claim histories, detect patterns in fraudulent activities, and optimize claim processing efficiency. 
•    Regulatory compliance and reporting: ensure accurate and timely reporting for regulatory requirements, audits, and stakeholder transparency. 
•    Cost control and financial insights: monitor expenses, forecast liabilities, and assess funding adequacy to maintain financial stability. 
•    Integration with other systems: enable seamless data flow with plan administrator, consultants, HR, and other enterprise systems to support cross-functional decision-making. 
•    Data security and privacy: safeguard sensitive information through robust access controls and encryption to comply with legal and ethical standards. 
•    Users will have no access to act protected information, all data will be de-identified and inaccessible to users.
b. Continuous improvement, auditing, and optimization
•    AI and machine learning integration: incorporate predictive analytics for more advanced risk forecasting and claims cost optimization. 
•    Drill down capabilities that maintain privacy to the individual.
•    Data warehouse scalability: plan for future growth by ensuring the system can handle increasing data volumes and complexity. 
•    County’s ability to own all claims data. 
•    Automated auditing tools: build tools that continuously monitor data quality, compliance, and reporting accuracy.
c. User experience and stakeholder engagement
•    Customization for different users: develop role-specific dashboards for finance, risk management, and actuaries. 
•    Mobile access and remote capabilities: ensure stakeholders can securely access reports and insights from anywhere. 
•    Collaboration features: implement data-sharing protocols and reporting templates for interdepartmental coordination.
d. Governance and compliance enhancements
•    Data lifecycle management: define retention policies and archival strategies to ensure efficient historical tracking. 
•    Advanced security protocols: implement multi-factor authentication, real-time threat detection, and compliance tracking to prevent breaches. 
•    Legal and ethical considerations: ensure alignment with regulations beyond standard insurance laws, such as data privacy mandates.

- Contract Period/Term: 1 year