Award

Insurance Pilot Study

DEFRA NETWORK ETENDERING PORTAL

This public procurement record has 4 releases in its history.

Award

16 Dec 2022 at 14:41

Tender

31 May 2022 at 13:32

Tender

31 May 2022 at 10:08

Planning

25 Oct 2021 at 21:45

Summary of the contracting process

The Environment Agency has completed the procurement process for the "Insurance Pilot Study" project, seeking consultancy services for evaluating insurance-related financial benefits of flood alleviation schemes in England, specifically at Bridgwater Tidal Barrier and Banbury Flood Alleviation Scheme. The study was carried out by McKinsey & Co Inc UK, with a contract value of £249,572.00. The procurement was conducted through an open procedure with a deadline of 2022-07-01.

This tender opportunity presents a chance for consultancy firms specialising in financial services to engage with the Environment Agency on evaluating flood alleviation scheme benefits. With a focus on financial consultancy services, this project requires expertise in actuarial services and feasibility studies. Businesses with experience in natural catastrophe modelling, insurance risk pricing, and public infrastructure investment projects will find this tender suitable for growth opportunities.

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Notice Title

Insurance Pilot Study

Notice Description

The Green Finance Team at Environment Agency have secured funding to carry out a pilot study titled 'Monetising Insurance Benefits of Flood Alleviation Schemes' (the Study) to evaluate the insurance-related financial benefits of Flood Alleviation Schemes in England. The Environment Agency seeks to appoint a Consultant to carry out the Study. The Study will evaluate two flood schemes in England viz. Bridgwater Tidal Barrier and Banbury Flood Alleviation Scheme.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02efbf
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/035698-2022
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
Planning Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

71 - Architectural, construction, engineering and inspection services


CPV Codes

66000000 - Financial and insurance services

66171000 - Financial consultancy services

71241000 - Feasibility study, advisory service, analysis

Notice Value(s)

Tender Value
£250,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£249,572 £100K-£500K

Notice Dates

Publication Date
16 Dec 20223 years ago
Submission Deadline
1 Jul 2022Expired
Future Notice Date
1 Dec 2021Expired
Award Date
7 Aug 20223 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
DEFRA NETWORK ETENDERING PORTAL
Contact Name
Network Procurement
Contact Email
network.procurement@defra.gov.uk
Contact Phone
+44 2072385921

Buyer Location

Locality
LONDON
Postcode
SW1P 3JR
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

Supplier Information

Number of Suppliers
1
Supplier Name

MCKINSEY & CO

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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