Award

Group Life Assurance Policy

STUDENT LOANS COMPANY LIMITED

This public procurement record has 1 release in its history.

Award

18 Jan 2023 at 10:20

Summary of the contracting process

The Student Loans Company Limited has awarded a contract for the provision of a Group Life Assurance Policy to Zurich Assurance Ltd. The contract, with a total value of £600,116.22 GBP, was awarded through a selective procurement method as a call-off from a framework agreement. The procurement process started on 2022-10-20 and the contract period is from 2022-11-06 to 2025-11-05. The buying organisation, based in Darlington, England, is engaged in the services industry related to insurance services.

This tender for the Group Life Assurance Policy provides an opportunity for insurance companies and businesses in the financial services sector to compete. Given the nature of the contract, businesses with experience in providing insurance services, particularly in group life insurance policies, would be well-suited to participate. The contract's duration up to 2025 offers a long-term business opportunity for the successful supplier to leverage this contract for sustainable growth and business development.

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Notice Title

Group Life Assurance Policy

Notice Description

SLC contractually provides all employees with a life assurance benefit through a Death in Service Benefit Scheme providing a salary linked amount of benefit to beneficiaries. SLC require to engage an insurer to provide the supporting Group Life Insurance policy.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-826ce61d-e527-4465-bef8-b0632fd0fec4
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/ed93a035-afb7-4bcc-9bb1-8505a2fd8996
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66510000 - Insurance services

Notice Value(s)

Tender Value
£600,116 £500K-£1M
Lots Value
Not specified
Awards Value
£600,116 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
18 Jan 20233 years ago
Submission Deadline
20 Oct 2022Expired
Future Notice Date
Not specified
Award Date
26 Oct 20223 years ago
Contract Period
6 Nov 2022 - 5 Nov 2025 3-4 years
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
STUDENT LOANS COMPANY LIMITED
Contact Name
susan butcher
Contact Email
susan_butcher@slc.co.uk
Contact Phone
Not specified

Buyer Location

Locality
DARLINGTON
Postcode
DL1 1RW
Post Town
Darlington
Country
England

Major Region (ITL 1)
TLC North East (England)
Basic Region (ITL 2)
TLC3 Tees Valley
Small Region (ITL 3)
TLC33 Darlington
Delivery Location
Not specified

Local Authority
Darlington
Electoral Ward
Red Hall & Lingfield
Westminster Constituency
Darlington

Supplier Information

Number of Suppliers
1
Supplier Name

ZURICH ASSURANCE

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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