Planning

US Benefits - Medical, Dental, Vision & Life (4 separate opportunities)

FOREIGN COMMONWEALTH AND DEVELOPMENT OFFICE

This public procurement record has 1 release in its history.

Planning

06 May 2021 at 21:55

Planning Notice
Summary of the contracting process

The Foreign Commonwealth and Development Office is planning a tender for four distinct insurance services catering to Country Based Staff across the United States Network. The estimated total value of these contracts is approximately $8.44 million USD, with individual components including Medical Insurance, Dental Insurance, Life & Disability Insurance, and Vision services over a potential five-year term. The tender process is set to commence, with a future notice date scheduled for 7 June 2021, after which detailed requirements will be provided to interested bidders.

This procurement opportunity presents substantial growth potential for businesses within the insurance sector, particularly those that specialise in medical, dental, vision, and life insurance services. Companies that are licensed to operate in the U.S., possess a local presence, and comply with U.S. regulations will be well-positioned to compete. Relevant bids will be expected to demonstrate capabilities such as ownership of U.S. networks and experience in providing similar insurance services, making this an attractive opportunity for established firms and those looking to expand their offerings in the U.S. market.

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Notice Information

Notice Title

US Benefits - Medical, Dental, Vision & Life (4 separate opportunities)

Notice Description

Four separate insurance requirements for Country Based Staff across the United States Network. We will be looking to contract services for three (3) years plus an optional two, 12 months (1+1). i) Medical Insurance - Stop Loss, Pharmacy and Admin (Circa $956K USD per year) ii) Dental Insurance (Circa $386K USD per year) iii) Life & Disability Insurance (Circa $320K per year) iv) Vision ($26K per year)

Lot Information

Lot 1

i) Stop Loss Insurance for Foreign, Commonwealth & Development Office Country Based Staff and their dependents, based across the United States of America. ii) Dental insurance for Foreign, Commonwealth & Development Office Country Based Staff and their dependents, based across the United States of America. iii) Vision for Foreign, Commonwealth & Development Office Country Based Staff, based across the United States of America iv) Life & Disability for Foreign, Commonwealth & Development Office Country Based Staff, based across the United States of America A full set of requirements will follow at the tender stage. However, headline requirements for any companies thinking of competing are as follows. All bidders must: * Be licensed to do business in the United States (U.S.). For Medical, bidders must have a health insurance license in the United States. * Follow U.S. regulations. * Have a U.S. presence. * Own their own U.S. networks (Only major carriers only will be considered; Third Party Administrators (TPA's) will not be considered). * Companies will be asked to provide: * Copy of the certificate of incorporation * Audited opening balance sheet i.e. at the time of incorporation / commencement of operations, or * evidence of current shareholders' funds / equity * Business plans and projection for the next 2 - 3 years * Details of ownership (including percentage interest) * Details of reinsurance arrangements * Any plans for ratings by any of the rating agencies, if not already published * Types of business authorised and types written * Details of the board of directors, including a brief resume of the key directors * Brief resume of the key underwriters * Any other relevant material developments not covered above (e.g. additional capital injections, explicit parental support / guarantees etc) Additional information: The contract Authority intends to advertise the go live date of the 4 procurements from around 7 June 2021. The Procurement process will be managed by Willis Towers Watson our US Benefits broker with supervision of the process by FCDO Procurement, following all UK procurement regulations and standards.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02ae1b
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/009898-2021
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
Planning Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

66511000 - Life insurance services

66512220 - Medical insurance services

Notice Value(s)

Tender Value
£8,440,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
6 May 20214 years ago
Submission Deadline
Not specified
Future Notice Date
6 Jun 2021Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Planned
Lots Status
Planned
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
FOREIGN COMMONWEALTH AND DEVELOPMENT OFFICE
Contact Name
Not specified
Contact Email
ame.procurement2@fcdo.gov.uk
Contact Phone
+44 02070080932

Buyer Location

Locality
LONDON
Postcode
SW1A 2AH
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

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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