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Core Claims Services

Financial Services Compensation Scheme

This public procurement record has 2 releases in its history.

Award

24 Jun 2024 at 12:05

Award Notice
Tender

04 Sep 2023 at 10:06

Tender Notice
Summary of the contracting process

The Financial Services Compensation Scheme (FSCS) has recently awarded a contract for Core Claims Services. The procurement stage is now complete, and the contract is active. The total contract value is £83,600,000, with an initial term lasting until 31st March 2030. The services fall under the financial and insurance services category and include Deposit Claims Processing, Advice Claims Processing, Overflow Customer Contact, and Support Services. Pricewaterhousecoopers LLP is the supplier for this contract, providing services such as Resourcing, Service Delivery, and Transition.

The Core Claims Services tender issued by the FSCS presents an opportunity for businesses in the financial and insurance services sector to grow. SMEs and large enterprises capable of providing claims handling services, customer care services, and financial consultancy services are well-suited to compete. The tender involves a competitive procedure with negotiation and requires adherence to specific criteria such as Resourcing, Service Delivery, and Information Security. Businesses interested in this tender should be prepared to meet the bid validity period of 180 days and consider the competitive nature of the procurement process.

How relevant is this notice?

Notice Information

Notice Title

Core Claims Services

Notice Description

The scope of the services are: * Deposit Claims Processing * Advice Claims Processing * Overflow Customer Contact *Support Services

Lot Information

Lot 1

The scope of the services are: * Deposit Claims Processing - Not Fit For Straight Through Pay-out (NFFSTP) Claims - Exclusion View (EV) Claims - Temporary High Balances (THB) Claims - Customer engagement activities, such as inbound and outbound calls, in the course of processing the above claims * Advice Claims Processing - Early file preparation and triage activity (Pre-assessment tasks) - End to End processing on a proportion of claims where the approach to assessing the claim is more well-defined and standardised, and volumes are sufficient - Customer Engagement activities such as making Touch Point Calls or responding to incoming calls in the course of processing the above claims - Resolving post decision correspondence and processing Appeals for the Claims processed by the Service Provider * Overflow Customer Contact - Providing suitable telephony and administration support to deal effectively with inbound customer queries when volumes exceed the capacity that can be dealt with by FSCS internal teams. *Support Services - Providing appropriate capable staff to work with and assist FSCS with in-house tasks relating to potential and actual defaults, which may include project management and determining processes and procedures for complex failures.

Renewal: The duration of the initial term will be 60 months . After the initial terms, there will be an option for FSCS to extend the contract on up to two occasions for a maximum duration of [12] months on each of those occasions

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-03f994
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/019281-2024
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive procedure with negotiation
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

66000000 - Financial and insurance services

66150000 - Financial markets administration services

66152000 - Financial market regulatory services

66171000 - Financial consultancy services

66500000 - Insurance and pension services

66519310 - Insurance consultancy services

66523000 - Pension fund consultancy services

79342320 - Customer-care services

Notice Value(s)

Tender Value
£50,000,000 £10M-£100M
Lots Value
£50,000,000 £10M-£100M
Awards Value
Not specified
Contracts Value
£83,600,000 £10M-£100M

Notice Dates

Publication Date
24 Jun 20242 years ago
Submission Deadline
4 Oct 2023Expired
Future Notice Date
Not specified
Award Date
14 Jun 20242 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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Financial Services Compensation Scheme
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC3A 7QU
Postcode Area
Central 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
City of London
Electoral Ward
Portsoken
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

Pricewaterhousecoopers LLP

Further Information

Open Contracting Data Standard (OCDS)

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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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