University of Bristol Group Pension Plan Insurances (UBGPP)

A Tender Notice
by UNIVERSITY OF BRISTOL

Source
Find a Tender
Type
Contract (Services)
Duration
2 year
Value
£5M
Sector
BUSINESS
Published
16 Apr 2024
Delivery
To 16 May 2026 (est.)
Deadline
16 May 2024 12:00

Concepts

Location

Bristol

Geochart for 2 buyers and 0 suppliers

2 buyers

Description

The University of Bristol are looking to procure group life assurance and group income protection for members of the University of Bristol Group Pension Plan (‘UBGPPP’). The requirement is as follows: Lot 1: Life Assurance: to provide a payment of 6 x salary in the event of a member death; Lot 2: Income Protection: to provide member income protection of 60 % of basic salary in the event of incapacity

Lot Division

1 Life Assurance
  • Value: £2M

To ensure members are insured for 6 x salary in the event of death.
2 Income Protection Insurance
  • Value: £2M

To provide members income protection of 60 % of basic salary in the event of incapacity.

Renewal Options

Contract is a 24 month initial term followed by option to extend by a further 24 months. Potential contract 48 months in total. Prior to the 48 months the intention is to re-procure the requirement before expiry of the contract being tendered.

CPV Codes

  • 66500000 - Insurance and pension services
  • 66510000 - Insurance services
  • 66511000 - Life insurance services
  • 66512000 - Accident and health insurance services
  • 66512100 - Accident insurance services
  • 66512200 - Health insurance services
  • 66515410 - Financial loss insurance services

Indicators

  • Restrictions apply to the lot award allocation.
  • Bids should cover one or more lots.
  • Bids should cover the whole contract.
  • This is a recurring contract.
  • Renewals are available.
  • Professional qualifications are sought.
  • Award on basis of price and quality.

Other Information

£5M Contract Notice figure is based on the estimated cost of both Lots going to full 4 years (2+2).

Reference

Domains