Tender

Tenants Contents Insurance Scheme for the London Borough of Hillingdon

LONDON BOROUGH OF HILLINGDON

This public procurement record has 1 release in its history.

Tender

23 Nov 2017 at 15:03

Tender Notice
Summary of the contracting process

The London Borough of Hillingdon is initiating a tender process for the "Tenants Contents Insurance Scheme," aimed at providing insurance services for tenants who struggle to access mainstream home contents insurance. This contract is set to last for three years, commencing on 1st April 2018, with a possible extension for an additional two years. The tender period closes on 3rd January 2018. The estimated value of the contract is £320,000 over a five-year period, with the services being particularly essential in the London region where the need for inclusive insurance options is prevalent.

This opportunity is well-suited for small and medium-sized enterprises (SMEs) that specialise in insurance services, especially those offering flexible payment options and lower minimum cover amounts tailored for low-income households. The Tenants Contents Insurance Scheme focuses on inclusivity and aims to expand its reach beyond the current 812 participating tenants, presenting a significant opportunity for businesses looking to grow their market presence in community-based insurance solutions. Companies capable of adapting their offerings to meet the needs of financially excluded tenants will find this tender particularly advantageous.

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Notice Information

Notice Title

Tenants Contents Insurance Scheme for the London Borough of Hillingdon

Notice Description

The London Borough of Hillingdon (the Council) is seeking to appoint a sole supplier for the provision of its Tenants Contents Insurance Scheme. The proposed new contract will be for 3 years, from 1st April 2018 with the option to extend for a further 2 years beyond the initial contact term. The current contract expires on 31st March 2018. The Tenants Contents Scheme is an insurance product for Hillingdon's tenants who find themselves financially excluded from the mainstream home contents insurance market. Currently 812 tenants buy into the Tenants Contents Insurance Scheme, which is just under a 10% take-up rate. The scheme is not intended to rival individual contents policies offered by mainstream insurance providers and unlike these standard contents insurance policies, the Tenants Contents Insurance Scheme has minimal entry criteria, to ensure the scheme is as inclusive as is reasonably possible. The Tenants Contents Insurance Scheme has two significant features. The first is that, unlike mainstream policies which charge by monthly direct debt or an annual premium,tenants purchasing insurance through the Tenants Contents Scheme pay a weekly premium which is collected with the tenant's rent. Secondly, it offers tenants the ability to purchase cover for smaller sums insured than mainstream policies, with sums insured on the Tenants Contents Scheme starting as low as PS5,000. The majority of mainstream policies provide minimum sums insured that exceed the requirements for these low income households. The value of this contract is estimated at PS320k based on the premiums over a 5 year period. Additional information: The full suite of tender documents can be found the tender portal, www.capitalesourcing.com

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-3f425a7a-99de-419a-800d-60d09cb29307
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/8bb55429-9820-44f9-9f14-0c95944c7827
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
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

Notice Value(s)

Tender Value
£320,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
23 Nov 20178 years ago
Submission Deadline
3 Jan 2018Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Mar 2018 - 31 Mar 2021 3-4 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 HILLINGDON
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
UXBRIDGE
Postcode
UB8 1UW
Post Town
Southall
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI7 Outer London - West and North West
Small Region (ITL 3)
TLI74 Harrow and Hillingdon
Delivery Location
TLI London
Local Authority
Hillingdon
Electoral Ward
Uxbridge
Westminster Constituency
Uxbridge and South Ruislip

Further Information

Notice Documents

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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