University of Bristol Group Pension Plan Insurances (UBGPP)

A Contract Award Notice
by UNIVERSITY OF BRISTOL

Source
Find a Tender
Type
Contract (Services)
Duration
2 year (est.)
Value
£5M
Sector
BUSINESS
Published
23 Jul 2024
Delivery
To 23 Jul 2026 (est.)
Deadline
n/a

Concepts

Location

Bristol

Geochart for 2 buyers and 2 suppliers

2 buyers

2 suppliers

Description

The University of Bristol have awarded 2 contracts for 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
2 Income Protection Insurance

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

Award Detail

1 Unum (Milton)
  • Lot 1: Life Assurance: to provide a payment of 6 x salary in the event of a member death
  • Num offers: 4
  • Value: £2,500,000
2 Aviva Life & Pensions (York)
  • Lot 2: Income Protection: to provide member income protection of 60 % of basic salary in the event of incapacity
  • Num offers: 2
  • Value: £2,500,000

Award Criteria

PRICE _

CPV Codes

  • 66500000 - Insurance and pension services

Indicators

  • Award on basis of price.

Other Information

Contract is a 24 month initial term followed by option to extend by a further 24 months. Potential contract 48 months in total. Contract is a 24 month initial term followed by option to extend by a further 24 months. Potential contract 48 months in total. £5M Contract Notice figure is based on the estimated cost of both Lots going to full 4 years (2+2).

Reference

Domains