---
title: "Insurance Pilot Study"
ocid: "ocds-b5fd17-3c8f32c0-348d-4292-b136-1e5a994f3b8f"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-3c8f32c0-348d-4292-b136-1e5a994f3b8f"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-3c8f32c0-348d-4292-b136-1e5a994f3b8f.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-3c8f32c0-348d-4292-b136-1e5a994f3b8f.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "DEFRA NETWORK ETENDERING PORTAL"
published: "2022-12-16"
---

# Insurance Pilot Study

Buyer: DEFRA NETWORK ETENDERING PORTAL  
Current stage: Award  
OCID: ocds-b5fd17-3c8f32c0-348d-4292-b136-1e5a994f3b8f

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## Summary

The Environment Agency has awarded the contract for the 'Insurance Pilot Study' to McKinsey & Co Inc UK. The study aims to evaluate insurance-related financial benefits of Flood Alleviation Schemes in England, focusing on the Bridgwater Tidal Barrier and Banbury Flood Alleviation Scheme. The contract value is £249,572, and the contract period is from 2nd November 2022 to 1st November 2023.

This tender presents an opportunity for consultants specialised in financial and insurance services to engage in the evaluation of flood alleviation schemes. The procurement method used is an open procedure, allowing SMEs to participate. The study will involve developing an evidence base to quantify financial benefits and create innovative financial mechanisms. Businesses with expertise in natural catastrophe modelling, insurance risk pricing, and transaction advisory services for public infrastructure investment projects are well-suited to compete.

## Notice

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.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/fdab6bef-efd3-4dc2-825f-4f8caf91d9bb |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (above threshold) |
| Tender suitability | SME |
| Awardee scale | Large |
| All stages | Planning, Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 16 Dec 2022 |
| Submission deadline | 1 Jul 2022 |
| Future notice date | 22 Nov 2021 |
| Award date | 2 Nov 2022 |
| Contract period | 2 Nov 2022 - 1 Nov 2023 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £250,000 |
| Lots value | Not specified |
| Awards value | £249,572 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | DEFRA NETWORK ETENDERING PORTAL |
| Locality | BRISTOL |
| Post town | Bristol |
| Postcode | BS1 5TL |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | Westminster |
| Electoral ward | St James's |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | MCKINSEY & CO |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66000000 - Financial and insurance services
- 66171000 - Financial consultancy services

## Release History

- 16 Dec 2022 at 14:15 - AwardUpdate - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/fdab6bef-efd3-4dc2-825f-4f8caf91d9bb
- 15 Dec 2022 at 09:25 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/fdab6bef-efd3-4dc2-825f-4f8caf91d9bb
- 31 May 2022 at 10:07 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/52838e5c-79b6-4983-9edb-941b18d01372
- 25 Oct 2021 at 17:39 - Planning - Market Engagement Notice - https://www.contractsfinder.service.gov.uk/Notice/ef333b85-d5fe-4057-a4fe-0f23c616e9d1

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/fdab6bef-efd3-4dc2-825f-4f8caf91d9bb
  16th December 2022 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/52838e5c-79b6-4983-9edb-941b18d01372
  31st May 2022 - Opportunity notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/ef333b85-d5fe-4057-a4fe-0f23c616e9d1
  25th October 2021 - Early engagement notice on Contracts Finder
- https://defra.bravosolution.co.uk
  Link to eSourcing Portal
- https://defra.bravosolution.co.uk/esop/toolkit/notice/showNationalData.do?noticeId=1008572#fh
  PIN
- https://defra.bravosolution.co.uk/esop/toolkit/notice/showNationalData.do?noticeId=1075288#fh
  Opportunity
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/3bb8d485-176e-4867-8f09-d1dc23607e1a
  n/a

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-3c8f32c0-348d-4292-b136-1e5a994f3b8f. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-3c8f32c0-348d-4292-b136-1e5a994f3b8f.json.