Tender

Insurance Actuarial Services

LONDON BOROUGH OF LAMBETH

This public procurement record has 2 releases in its history.

TenderAmendment

26 Nov 2020 at 11:14

Tender Notice
Tender

09 Nov 2020 at 14:05

Tender Notice
Summary of the contracting process

The London Borough of Lambeth is currently procuring "Insurance Actuarial Services" to support its Risk & Insurance team through periodic insurance fund reviews, aimed at assessing exposures and the adequacy of existing reserves. This open tender procedure is below the threshold and is scheduled to close on 4th December 2020. The services required include a comprehensive actuarial review, claims trend analysis, and risk financing advice, with delivery expected to take place in London between 1st January 2021 and 31st December 2024.

This opportunity is ideal for small and medium-sized enterprises (SMEs) specialising in actuarial services and insurance solutions. Businesses that can demonstrate expertise in conducting actuarial reviews, forecasting, and loss avoidance strategies will find this tender particularly appealing. Engaging in this contract could serve as a significant growth opportunity for firms looking to expand their portfolio within the public sector, especially those with innovative approaches to risk management and insurance assessments.

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Notice Information

Notice Title

Insurance Actuarial Services

Notice Description

This procurement is for the selection of a provider that is able to fully support the council's Risk & Insurance team in the provision of periodic insurance fund reviews to assess the current exposures facing the council and the adequacy of existing insurance reserves & provisions to meet the cost of claims. Insurance actuarial services required include: * Full actuarial review of insurance provisions * Mini health check review on claims trends and impact * Insurance programme review * Commutations options * Redress Scheme review & forecasting * Risk financing review * Loss avoidance review & advice * Ad-hoc reviews Full details of the services required are set out in the attached specification document. Additional information: By submitting a tender I acknowledge and agree to the below the statements: * I have read and understood Lambeth's procurement guidance for suppliers, "Selling to the Council" * I accept the Lambeth Terms and Conditions * If I am selected to provide the above services and/or supplies this form and the information on it will form part of my contract with the London Borough of Lambeth * If I am selected to provide the above services and/or supplies and am not already set up as a supplier on the Lambeth system I will comply with Lambeth's Supplier Set-up procedures through iSupplier which includes the provision of a completed Supplier Self Certification form and Bank details on headed paper. * Lambeth is under no obligation to accept the final results of the quotation competition or the lowest price for any particular item submitted by a supplier * Non-delivery of services or products will result in non-payment by Lambeth Council * False representation could result in de-selection from any competition or termination of contract * It is a criminal offence to give or offer any gift or consideration whatsoever as an inducement or reward to any servant of a public body. I understand that any such action will empower Lambeth Council to cancel any contract or commission currently in force and may result in my exclusion from future work * Lambeth has the right to use this information for the prevention and detection of fraud

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-036b75be-ff90-4935-a491-0a6c47745b28
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/3b4963a4-4851-4d53-bf28-2a12c8ebf91d
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66519600 - Actuarial services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
26 Nov 20205 years ago
Submission Deadline
4 Dec 2020Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Jan 2021 - 31 Dec 2024 4-5 years
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
LONDON BOROUGH OF LAMBETH
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW2 1RW
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI45 Lambeth
Delivery Location
TLI London
Local Authority
Lambeth
Electoral Ward
Brixton Acre Lane
Westminster Constituency
Clapham and Brixton Hill

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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