Federal NAICS Codes

NAICS 524113: Direct Life Insurance Carriers

Explore obligations, trends, recent awards, and incumbent contractors for NAICS 524113.

NAICS 524113 federal market metrics

Total obligations
$250.9M
Total awards
1,175 awards
Active obligations
$7.5M
Size standard
$47,000,000 receipts

What this NAICS covers

NAICS 524113 covers companies that underwrite, price, and issue life insurance and annuity contracts while administering policy records, premium billing, claims adjudication, and statutory reserves using direct distribution channels such as phone, mail, and internet.

Federal opportunities under 524113 typically involve contracting to provide group or individual life and annuity benefits for a defined beneficiary population, enrollment and premium collection platforms, claims processing, actuarial reporting, and contractually defined policyholder service levels.

FY2025 snapshot

Obligations
$7.4M
Awards
93
Average award
$79.9K
Change from FY2024
+41.5%

Recent awards

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FAQ

What work fits NAICS 524113?
  • Issue and administer group term life insurance policies for an enrolled federal beneficiary population, including enrollment processing, premium collection, policy issuance, and ongoing policyholder account management.
  • Underwrite and price defined annuity contracts for a benefits program, maintain reserve calculations, produce actuarial reports, and deliver required financial certifications.
  • Provide claims adjudication and death-benefit payment services, including beneficiary validation, documentation review, timely benefit disbursement, and records reconciliation per contract terms.
  • Operate direct-enrollment channels (call center, web portal, mail processing) for life and annuity product enrollment, policy servicing, and delivery of batch enrollment and premium remittance reports.
When is NAICS 524113 a weak fit?
  • Health insurance carriers: the procurement centers on medical claims, provider networks, and health benefit management rather than life/annuity underwriting and death-benefit obligations.
  • Pension administration services: activities limited to recordkeeping, benefit calculation, or retirement plan administration without issuing insured life or annuity contracts are outside this code.
  • Third-party claims administrator only: a firm that processes claims on behalf of an insurer without underwriting, issuing policies, or holding insurance risk lacks the core insurance-carrier functions required here.
What solicitation language points to NAICS 524113?
  • Contract language requires actuarial certifications, statutory reserve reporting, and pricing formulas tied to insured lives and benefit schedules.
  • Scope lists enrollment systems, premium collection platforms, policy issuance, beneficiary verification, and contractual claims-adjudication timelines.
  • Evaluation criteria request past performance issuing and servicing group life or annuity products, plus evidence of insurance licenses, financial strength, and policy administration capacity.

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