Planning

UKEF Overseas Investment Insurance (OII) Product Development

UK EXPORT FINANCE

This public procurement record has 1 release in its history.

Planning

10 Dec 2024 at 13:03

Market Engagement Notice
Summary of the contracting process

UK Export Finance (UKEF) is in the planning stage for the development of its Overseas Investment Insurance (OII) Product. The procurement process is focused on financial and insurance services and is occurring within the United Kingdom. The key date to note is the engagement end date on 17th December 2024. The development is part of a tender process, and the early engagement notice was published on 10th December 2024. UKEF seeks expertise in political risk insurance to collaborate with its product development team to update and enhance the OII product.

This tender presents a significant opportunity for businesses with expertise in political risk insurance to expand their portfolio and engage with a prominent government buyer. Companies that specialize in financial and insurance services, particularly those with experience in underwriting and risk assessment, would be well-suited to compete. Additionally, the tender is suitable for small and medium enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs), making it an inclusive opportunity for a diverse range of businesses looking to grow their involvement in the public sector.

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Notice Information

Notice Title

UKEF Overseas Investment Insurance (OII) Product Development

Notice Description

Overseas Investment Insurance (OII) is UK Export Finance's (UKEF) political risk insurance product. The product is designed to enable UK-based investors to insure their overseas enterprise against losses caused by political risks in the host country, and is only available where insurance cannot be obtained from the private sector. After a period of limited OII enquiries and no new deals underwritten for several years, UKEF is seeking input from a political risk insurance expert to work with UKEF's product development team to refresh OII. This would involve: * providing options / recommendations on Policy coverage wording (including explaining the consequences of including/excluding certain coverage) * producing written materials (such as guides or checklists) on how to underwrite OII proposals and handle claims * producing and giving training to generalist and specialist staff * providing any other advice or guidance that would allow staff to underwrite, risk assess, renew, pay claims on and make recoveries on OII Policies An opportunity to learn more about UKEF's requirements will be held in the next few weeks. If you are interested in supplying this service to UKEF, please email Commercial@ukexportfinance.gov.uk

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-ce5b96e7-0292-4dff-8c0c-3fa35885eafb
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/5b8bf713-0c5f-46c2-9735-6bdc7ee5dc4a
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
Market Engagement Notice
Procurement Type
Standard
Procurement Category
Not specified
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
SME, VCSE
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and 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
10 Dec 20241 years ago
Submission Deadline
Not specified
Future Notice Date
17 Dec 2024Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
UK EXPORT FINANCE
Contact Name
Commercial
Contact Email
commercial@ukexportfinance.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
SW1A 2HQ
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

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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