1.1 DESCRIPTION OF SERVICES REQUESTED: Citizens Property Insurance Corporation (Citizens) is seeking competitive sealed replies (Replies) from firms (Vendors) capable of providing a digital payment gateway for insurance companies (Services). The Services should facilitate the following types of insurance-related payments: A. Incoming payments, such as annual/biannual or quarterly premium payments by policyholders (in 2023, Citizens had approximately 3,419,395 transactions totaling $8,669,178,702). B. Outgoing payments for property damage claims (in 2023, Citizens had approximately 132,132 transactions totaling $1,910,351,793). C. Outgoing payments for additional living expenses made during a catastrophe (Citizens had approximately 1,098 transactions totaling $3,471,341 related to Hurricane Ian). D. Outgoing payments to insurance agents for commissions (in 2023, Citizens had approximately 54,771 transactions totaling $392,362,247). E. Outgoing payments to third-party vendors for claim expenses (in 2023, Citizens had approximately 122,289 transactions totaling $11,119,860). F. Outgoing payments for insurance premium refunds (in 2023, Citizens had approximately 233,376 transactions totaling $297,728,003)
