Representative Les Eaves Members, we're going to get this committee started. Executive chair sees a quorum. First on the agenda is a presentation of the captive manager proposal from Ms. Jill. I see you've already made your way to the table. You're recognized.
Jill Thayer Thank you, Mr. Chair. Jill Thayer, Bureau of Legislative Research. So you all have in your folders an explanation of two additional captive vendor contracts that we're bringing to you for your approval. The first is with Stephens Capital Management for Investment Advisor Services. The estimated fee right now would be a max of $700,000 a year, but will most likely be lower than that.
The second contract is with Origami Risk. They would provide the software license and support for the captive for keeping track of all their data, running claims through that and providing invoicing. And this has a one-time implementation fee of $66,300 dollars, as well as annual licensing fees of $64,935. And on the back of your sheet there you have a more detailed explanation of what the Origami services will include.
I am working on one additional contract for the captive. It's with Sedgwick and they will be the claims administrator for the Captive. Right now we're still finalizing the pricing terms on that, so I can't bring that to you yet. It'll be coming to this body soon but I wanted to give you a heads up. So for today it would be similar to what you did last week with these two, authorizing the co-chairs to take emergency action to approve the contracts once we have the terms finalized. I'll take any questions.
Representative Les Eaves Members, any questions? Seeing none, we have a motion. Senator Hester, you're recognized.
Senator Bart Hester I move we authorize the ALC co-chairs to approve the contracts by emergency action, that we authorize BLR to assign the contracts to the Department of Shared Administrative Services on July 1, 2025.
Representative Les Eaves All right, members. We have a motion and a second. We have a second. All those in favor signify by saying aye. Opposed? The ayes have it. Motion carries. Any other business? Members, seeing no other business, thanks for your participation, we are adjourned.
