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PURCON 2120 - Provision of Insurance Services only - AWARD

University of East Anglia

This public procurement record has 1 release in its history.

Award

13 Mar 2025 at 11:04

Award Notice
Summary of the contracting process

The University of East Anglia has conducted a public procurement process for the provision of insurance services, specifically excluding any form of insurance broking services. The tender, titled "PURCON 2120 - Provision of Insurance Services only - AWARD," falls under the industry category of insurance services (CPV Code: 66510000). Located in the East of England, specifically at the University’s address in Norwich Research Park, the process proceeded through a selective, restricted procedure. The initial deadline for lead insurer quotations was on 2nd October 2024, followed by a secondary deadline for follow market quotations on 15th October 2024. The awarded contract has a duration from 11th November 2024 to 30th September 2028.

This tender presents significant opportunities for businesses specialising in insurance services to engage with a prominent academic institution. Since multiple insurers will provide the coverage, this multimarket approach is ideal for robust insurance firms capable of fulfilling substantial portions of the coverage as either lead insurers or as part of the follow market. The emphasis on achieving 100% capacity through a competitive two-stage process allows numerous firms the potential to participate and secure portions of the project, fostering business growth in these competitive sectors. Lead and follow insurers such as Chubb European Group PLC, HDI Global SE - UK & Ireland, Liberty Specialty Markets, Munich Re, and QBE European Operations have already been awarded positions in this project, highlighting the significant business growth potential within the East Anglia academic market.

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Notice Information

Notice Title

PURCON 2120 - Provision of Insurance Services only - AWARD

Notice Description

The University of East Anglia is conducting a tender process for provision of insurance cover only and is not an Insurance Broker Tender and specifically excludes any form of Insurance Broking Service. It is expected that multiple insurers will be required to provide sufficient capacity for this project. Therefore, respondents to this ITT will do so as a potential Lead insurer (ITT stage 1) and will provide a lead quotation in the first instance (deadline 2nd October). Once a lead has been identified, all other insurers will be given a second opportunity (ITT stage 2), to respond to this tender but as a follow market to obtain 100% capacity. All follow markets, including those unsuccessful lead market respondents, will be presented with the terms of the successful Lead insurer as part of this second opportunity to quote (deadline 15th October). Bids from follow markets will be ranked based on the most economically advantageous tender until minimum 100% capacity is obtained. Parts of the evaluation criteria will not be applicable to follow markets and no response is required under those parts of the tender marked "APPLICABLE TO LEAD ONLY". A "line to stand" will not be reduced and in the event of over-capacity, the share of the follow markets will be proportionately reduced to ensure 100% (subject to minimum levels). There is no expectation that any one insurer would be able to accept 100% capacity and consequently the University has determined a two-stage process is required. TO CLARIFY, IF YOU WANT TO TAKE PART IN THIS TENDER AT STAGE 2 (AS A FOLLOW), PART 1 - QUALIFICATION QUESTIONNAIRE MUST STILL BE COMPLETED AND RETURNED IN ADVANCE OF THE 2ND OCTOBER DEADLINE. THIS WILL ENSURE YOU ARE TAKEN THROUGH TO STAGE 2 OF THE ITT.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-4cbd45d6-b4f7-44ca-9ad8-a7f340382361
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/7b808a4c-c3f9-4a9c-8303-548de83f23fc
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure
Tender Suitability
Not specified
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
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
13 Mar 20251 years ago
Submission Deadline
2 Oct 2024Expired
Future Notice Date
Not specified
Award Date
24 Oct 20241 years ago
Contract Period
11 Nov 2024 - 30 Sep 2028 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
University of East Anglia
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
NORWICH RESEARCH PARK
Postcode
NR4 7TJ
Postcode Area
Norwich
Country
England
Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH5 Norfolk
Small Region (ITL 3)
TLH51 Norwich and East Norfolk
Delivery Location
Not specified
Local Authority
Norwich
Electoral Ward
University
Westminster Constituency
Norwich South

Supplier Information

Number of Suppliers
5
Supplier Names

Chubb European Group SE

HDI Global SE - UK & Ireland

Liberty Specialty Markets

Munich Re

QBE European Operations

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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