Unclaimed Property Software

Background
Citizens Property Insurance Corporation, a Florida governmental entity, is seeking to procure a comprehensive software solution for managing unclaimed property and related records. The goal of this contract is to support Citizens in returning unclaimed property to rightful owners or remitting it to the appropriate authorities when unclaimed. This initiative aligns with Citizens' mission to provide affordable property insurance and comply with statutory requirements across 54 U.S. jurisdictions.

Work Details
The selected vendor will provide a software solution that includes:
- Creation, transmission, and management of legally required unclaimed property reports and notifications.
- Compliance with the National Association of Unclaimed Property Administrators (NAUPA) reporting format, including state-specific encryptions as necessary.
- Features for generating customized notifications such as due diligence letters.
- Capabilities for identifying regulatory milestones related to unclaimed property, including due diligence timelines and escheatment deadlines.
- Transition support from NAUPA II file format to NAUPA III file format expected in Fall 2026.
- An owner redemption portal for timely processing of claims by redeemers.
- Regular updates via software releases to maintain compliance with evolving laws and regulations.

Period of Performance
The contract will have a base term of three (3) years with two (2) one-year renewal options, allowing for continued service and support throughout this period.

Place of Performance
The services will be performed primarily at the vendor's facilities but must ensure compatibility with Citizens' operational systems located in Tallahassee, Florida.

Bidder Requirements
Vendors must demonstrate financial stability through documentation such as a current W-9 form, an investment grade rating from a recognized credit agency, or audited financial statements. Vendors are encouraged to disclose any conflicts of interest and must comply with Florida Public Records laws regarding confidentiality of their submissions.