Award

University of Bristol Group Pension Plan Insurances (UBGPP)

UNIVERSITY OF BRISTOL

This public procurement record has 1 release in its history.

Award

23 Jul 2024 at 14:13

Award Notice
Summary of the contracting process

The University of Bristol has recently concluded the procurement process for its Group Pension Plan Insurances (UBGPP), specifically focusing on group life assurance and group income protection services. This procurement, classified under the "Insurance and pension services" category, utilised an open procedure and has now reached the award stage. The tender involved two lots: Lot 1 for life assurance and Lot 2 for income protection. The awarded contracts, starting on 22nd July 2024 and running through to 21st July 2026, may extend by an additional 24 months if required. The procurement is valued at £2,168,032 for the initial two-year period. The services will be delivered in the South West region of the United Kingdom.

This tender presents significant opportunities for businesses in the insurance and pension services industry. With the award already concluded, companies interested in similar future opportunities can benefit from understanding the procurement practices and requirements set by the University of Bristol. Large-scale insurance providers with experience in offering life assurance and income protection for educational institutions would be well-suited to compete in such tenders. Although this particular contract does not favour SMEs or VCSEs, understanding this procurement process can aid in strategic positioning for upcoming tenders in a similar category or with public sector entities.

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Notice Information

Notice Title

University of Bristol Group Pension Plan Insurances (UBGPP)

Notice Description

The University of Bristol has awarded 2 contracts for group life assurance and group income protection for members of the University of Bristol Group Pension Plan ('UBGPPP'). The requirement is as follows: Lot 1: Life Assurance: to provide a payment of 6 x salary in the event of a member death; Lot 2: Income Protection: to provide member income protection of 60 % of basic salary in the event of incapacity Additional information: Contract is a 24 month initial term followed by option to extend by a further 24 months. Potential contract 48 months in total. Price identified is the total cost of both Lots for the initial 2 year period.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-e64d5f8a-395c-490b-b267-c41d8d5a88e6
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/57443cb0-bdab-4ce8-ade4-f769a08439f9
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
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66500000 - Insurance and pension services

Notice Value(s)

Tender Value
£2,168,032 £1M-£10M
Lots Value
Not specified
Awards Value
£2,168,032 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
23 Jul 20241 years ago
Submission Deadline
15 May 2024Expired
Future Notice Date
Not specified
Award Date
1 Jul 20241 years ago
Contract Period
21 Jul 2024 - 21 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
UNIVERSITY OF BRISTOL
Contact Name
Lee Bryant
Contact Email
lee.bryant@bristol.ac.uk
Contact Phone
Not specified

Buyer Location

Locality
BRISTOL
Postcode
BS1 5DS
Post Town
Bristol
Country
England
Major Region (ITL 1)
TLK South West (England)
Basic Region (ITL 2)
TLK5 West of England
Small Region (ITL 3)
TLK51 Bristol, City of
Delivery Location
TLK South West (England)
Local Authority
Bristol, City of
Electoral Ward
Central
Westminster Constituency
Bristol Central

Supplier Information

Number of Suppliers
2
Supplier Names

AVIVA LIFE & PENSIONS

UNUM

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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