What is an RFI and RFP?

An RFI is a formal request for general information from potential vendors. RFIs are useful to gather information or ask general questions and are typically more limited information than RFPs. RFIs are fact-finding documents which ask open-ended questions to allow the carrier to fully explain their offerings. The carrier will often explain their position in the marketplace, how they license their product or services, and what costs should be expected from their services. 

An RFP, or request for proposal, is a more structured format of gathering information from carriers. RFPs often occur using a bidding process between carriers to win business from a company. The company specifies its issues and invites carriers to suggest solutions based on their offerings. An RFP usually follows an RFI since it is more specific and tailored to the individual customer. When submitting an RFP, you should have clear needs and be willing to share internal information with the vendor.

AFMS can assist in developing and managing these processes.
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