Award

C0576 Insurance Brokerage to place Group Insurance Policies

UK INFRASTRUCTURE BANK LTD

This public procurement record has 1 release in its history.

Award

08 Aug 2024 at 08:32

Award Notice
Summary of the contracting process

The UK Infrastructure Bank Ltd has recently completed a procurement process titled "C0576 Insurance Brokerage to place Group Insurance Policies" under an open procedure (above threshold). The procurement falls within the insurance services industry category and is located in Yorkshire and the Humber, United Kingdom, with postal code LS1 4HR. The tender, which had a tender period ending on 19 April 2024, solicited bids for services worth £750,000. The contract period extends from 8 July 2024 to 7 July 2026. The procurement process has now reached the award stage, with Barnett Waddingham LLP being the chosen supplier.

This tender offers ample opportunities for businesses specialising in insurance brokerage to grow their portfolio by securing long-term contracts for procuring group insurance policies. Small and Medium-sized Enterprises (SMEs) are particularly well-suited to compete in such open procurement processes, as demonstrated by the specific suitability criteria. The awarded contract to Barnett Waddingham LLP, a large enterprise, underscores the significance of expertise and capacity in delivering large-scale insurance services, providing a competitive edge to proficient firms in the insurance sector.

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Notice Information

Notice Title

C0576 Insurance Brokerage to place Group Insurance Policies

Notice Description

This ITT relates to the procurement process by the Buyer to procure an Insurance Brokerage to place Group Insurance Policies (the "Procurement")

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-5cb2a773-1390-4ea6-87cf-8996ed22d1da
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/bda4a053-1b9d-4756-8257-9e165ad3e559
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

Notice Value(s)

Tender Value
£750,000 £500K-£1M
Lots Value
Not specified
Awards Value
£750,000 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
8 Aug 20241 years ago
Submission Deadline
19 Apr 2024Expired
Future Notice Date
Not specified
Award Date
7 Aug 20241 years ago
Contract Period
7 Jul 2024 - 7 Jul 2026 1-2 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
UK INFRASTRUCTURE BANK LTD
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LEEDS
Postcode
LS1 4HR
Post Town
Leeds
Country
England
Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE4 West Yorkshire
Small Region (ITL 3)
TLE42 Leeds
Delivery Location
TLE Yorkshire and The Humber
Local Authority
Leeds
Electoral Ward
Hunslet & Riverside
Westminster Constituency
Leeds South

Supplier Information

Number of Suppliers
1
Supplier Name

BARNETT WADDINGHAM

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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