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University of St Andrews: Insurance Broker Services

University of St Andrews

This public procurement record has 2 releases in its history.

Award

14 Dec 2023 at 12:21

Award Notice
Tender

08 Sep 2023 at 16:18

Tender Notice
Summary of the contracting process

The University of St Andrews has completed the procurement process for Insurance Broker Services. The procurement method used was an open procedure. The tender was awarded to Marsh Limited. The contract is worth £397,062.50 and was signed on 7th December 2023. The procurement stage is currently 'cancelled'. The opportunity was in the services category and was located in UK-St Andrews. The award criteria included both Quality (70%) and Cost (30%).

This tender from the University of St Andrews for Insurance Broker Services offers a business growth opportunity to insurance brokerage firms, particularly those with expertise in advising on insurance strategic direction, negotiating terms, and handling day-to-day queries. Businesses with experience in the insurance industry would be well-suited to compete. The University has set specific dates and deadlines for the procurement process to ensure transparency and fairness for all tenderers.

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Notice Information

Notice Title

University of St Andrews: Insurance Broker Services

Notice Description

Insurance Broker Services for the University of St Andrews.

Lot Information

Lot 1

Insurance Broker Services for the University of St Andrews. The broker will be responsible for advice on insurance strategic direction, programme placement, negotiating wordings and extensions, being aware of market options, handling and monitoring completion of day to day queries, ensuring a satisfactory tripartite relationship with underwriters, advising on overseas exposures, facilitating claims handling on certain classes, acting as arbiter and point of escalation for claims on other classes, and providing a point of referral for property loss control advice to market norms, including accompanying insurer risk control surveys. Where we have existing in-house capability, we expect the broker to augment that capability and present it to the market. The broker will be responsible for issue of satisfactory policy wordings, negotiating suitable terms and conditions within those wordings, checking those wordings, and issuing statutory and other certificates on a timely basis. Please see tender documents for full details. Additional information: All tenders for the University of St Andrews are administered through our eTendering System (InTend).To Express an Interest please go to our tender website at https://intendhost.co.uk/universityofstandrews Please note that 'Notes of Interest' placed via PCS (Public Contracts Scotland) are not automatically accepted

Renewal: 2 Year extension subject to satisfactory performance and mutual agreement.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-03fb65
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/036785-2023
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

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

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66518100 - Insurance brokerage services

Notice Value(s)

Tender Value
£1,500,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£397,062 £100K-£500K

Notice Dates

Publication Date
14 Dec 20232 years ago
Submission Deadline
31 Oct 2023Expired
Future Notice Date
Not specified
Award Date
7 Dec 20232 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
University of St Andrews
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
GUARDBRIDGE
Postcode
KY16 0US
Postcode Area
Kirkcaldy
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM0 Eastern Scotland
Small Region (ITL 3)
TLM01 Clackmannanshire and Fife
Delivery Location
TLM72 Clackmannanshire and Fife
Local Authority
Fife
Electoral Ward
Tay Bridgehead
Westminster Constituency
North East Fife

Supplier Information

Number of Suppliers
1
Supplier Name

Marsh Limited

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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