ICBC issues Notice to Vendors for refund related to system transition
July 24, 2020
As part of the move to Enhanced Care, ICBC customers will receive a pro-rated refund for the portion of their existing insurance policy which goes past May 1, 2021 – the launch date for the new system.
Issuing millions of refunds within a short timeframe is a significant undertaking so ICBC is seeking a vendor to help issue the refunds to customers along with a personalized letter explaining how their refund was calculated. ICBC anticipates the majority of refunds and letters will be sent out to customers between May and July, 2021.
The vendor will be chosen through a competitive Negotiated Request for Proposals (NRFP) process to minimize costs, expedite the production of letters and obtain the best overall value. Refunds will be issued via cheque, direct deposit, applied to the credit card used at purchase or applied to reduce monthly payment plan contributions.
A Notice to Vendors is available on BC Bid. The NRFP is expected to be posted in early August.