Award

GB-Sheffield: Life Insurance Policy

BRITISH BUSINESS BANK

This public procurement record has 1 release in its history.

Award

11 Dec 2024 at 16:10

Summary of the contracting process

The British Business Bank has awarded a contract for a life insurance policy for all its staff members to Metlife Europe. This procurement falls under the medical insurance services industry category and includes additional classifications such as accident and health insurance services. The contract covers various locations, including the United Kingdom, British Overseas Territories, Channel Islands, Isle of Man, Europe, and other global regions. The procurement process was completed on 31st August 2024, with the contract commencing on 1st September 2024 and running until 31st August 2027. The total contract value is GBP 390,000.

This tender presents significant opportunities for businesses in the insurance and brokerage sectors to engage with public sector organisations. Companies specialising in comprehensive life, accident, and health insurance services would find this contract particularly fitting. Although the procurement method was not specified in detail, firms with capabilities to service a diverse and geographically widespread employee base will be well-suited for such opportunities. The involvement of AON PLC as the brokerage service provider also highlights the importance of intermediary services in such procurement processes.

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Notice Title

GB-Sheffield: Life Insurance Policy

Notice Description

Life insurance for all BBB staff members. Contract was procured using AON PLC as a brokerage services

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-e0154457-48cd-4012-95f3-63b8ac1dee70
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/b3bdc624-a594-446c-b0dc-13f3dc964eb3
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66511000 - Life insurance services

66512000 - Accident and health insurance services

66512100 - Accident insurance services

66512220 - Medical insurance services

Notice Value(s)

Tender Value
£390,000 £100K-£500K
Lots Value
Not specified
Awards Value
£390,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
11 Dec 20241 years ago
Submission Deadline
30 Aug 2024Expired
Future Notice Date
Not specified
Award Date
30 Aug 20241 years ago
Contract Period
31 Aug 2024 - 31 Aug 2027 2-3 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
BRITISH BUSINESS BANK
Contact Name
Procurement
Contact Email
joshua.macgillivray@british-business-bank.co.uk
Contact Phone
01142062145

Buyer Location

Locality
SHEFFIELD
Postcode
S1 2GQ
Post Town
Sheffield
Country
England

Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE3 South Yorkshire
Small Region (ITL 3)
TLE32 Sheffield
Delivery Location
Not specified

Local Authority
Sheffield
Electoral Ward
City
Westminster Constituency
Sheffield Central

Supplier Information

Number of Suppliers
1
Supplier Name

METLIFE EUROPE

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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