Award

Insurance Brokerage

MONEY AND PENSIONS SERVICE

This public procurement record has 1 release in its history.

Award

16 Mar 2026 at 11:16

Summary of the contracting process

The Money and Pensions Service, a central government public authority in the UK, recently completed an award process for securing organisational insurance through an insurance brokerage service. The tender was titled "Insurance Brokerage" and focused on financial and insurance services, with The Risk Factor Limited, an SME based in Leeds, as the awarded supplier. The procurement method employed was limited competition, selected below threshold. The contract commenced on 17th March 2026 and is set to end on 16th March 2027, representing a total gross value of £27,000.

This tender presents significant growth opportunities for businesses engaged in financial and insurance services, particularly those that specialise in providing tailored brokerage solutions to public authorities. Such organisations can potentially build long-term relationships with central government entities by demonstrating expertise in cost-effective insurance brokerage. SMEs with a strategic focus on expanding their service offerings to government departments would particularly benefit from engaging in similar procurement processes where limited competition methods are used.

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Notice Title

Insurance Brokerage

Notice Description

Insurance brokerage for securing organisational insurance

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-066ace
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/023409-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Below threshold - limited competition
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£22,500 Under £100K

Notice Dates

Publication Date
16 Mar 20262 weeks ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
12 Mar 20263 weeks ago
Contract Period
17 Mar 2026 - 16 Mar 2027 6-12 months
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
MONEY AND PENSIONS SERVICE
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BEDFORD
Postcode
MK42 9AB
Post Town
Milton Keynes
Country
England

Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH2 Bedfordshire and Hertfordshire
Small Region (ITL 3)
TLH24 Bedford
Delivery Location
Not specified

Local Authority
Bedford
Electoral Ward
Cauldwell
Westminster Constituency
Bedford

Supplier Information

Number of Suppliers
1
Supplier Name

THE RISK FACTOR

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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