---
title: "Insurance brokerage services"
ocid: "ocds-b5fd17-6b5b6938-22b9-49ca-bec9-1ac10521d5d8"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-6b5b6938-22b9-49ca-bec9-1ac10521d5d8"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-6b5b6938-22b9-49ca-bec9-1ac10521d5d8.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-6b5b6938-22b9-49ca-bec9-1ac10521d5d8.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "BANK OF ENGLAND"
published: "2020-07-17"
---

# Insurance brokerage services

Buyer: BANK OF ENGLAND  
Current stage: Award  
OCID: ocds-b5fd17-6b5b6938-22b9-49ca-bec9-1ac10521d5d8

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## Summary

The Bank of England has completed a procurement process for insurance brokerage services, which was initiated as a tender. The total value of the contract is £120,500, with a contract period commencing on 1st June 2020 and concluding on 31st May 2023. The tender was officially awarded on 24th April 2020, following a tender period that ended on 13th March 2020. This procurement falls within the services category, specifically under insurance brokerage, and is targeted at service providers capable of delivering complex insurance solutions. The relevant delivery addresses encompass the United Kingdom as well as various British Overseas Territories and territories in Europe.

This contract presents significant growth opportunities for small to medium-sized enterprises (SMEs) that specialise in insurance brokerage and related services. Companies with expertise in managing insurance tenders, providing claims management processes, and ensuring compliance can leverage this opportunity, particularly those aiming to partner with large organisations like the Bank of England. The need for value-for-money and comprehensive annual policy reviews creates a competitive landscape in which SMEs can excel by demonstrating their capability to deliver cost-effective solutions while maintaining high service standards.

## Notice

The Bank of England has a requirement for insurance broker services, including but not limited to: - Running a compliant tender process to appoint insurers - Drive commercial reviews to ensure value-for-money - Produce annual policy reports - Provide a claims management process

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/364e1037-bced-4a66-a7f7-38fd42ac0799 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Not Specified |
| Procurement method details | Other - |
| Tender suitability | SME |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 17 Jul 2020 |
| Submission deadline | 13 Mar 2020 |
| Future notice date | Not specified |
| Award date | 23 Apr 2020 |
| Contract period | 31 May 2020 - 31 May 2023 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £120,000 |
| Lots value | Not specified |
| Awards value | £240,500 |
| 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 | BANK OF ENGLAND |
| Locality | LONDON |
| Post town | Central London |
| Postcode | EC2R 8AH |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | City of London |
| Electoral ward | Walbrook |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | WILLIS TOWERS WATSON |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66518100 - Insurance brokerage services

## Release History

- 17 Jul 2020 at 14:31 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/364e1037-bced-4a66-a7f7-38fd42ac0799
- 24 Apr 2020 at 15:23 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/d7468796-a7aa-46f4-997f-8b6a2fce697e

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/364e1037-bced-4a66-a7f7-38fd42ac0799
  16th July 2020 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/d7468796-a7aa-46f4-997f-8b6a2fce697e
  24th April 2020 - Awarded contract notice on Contracts Finder

## Notice URLs

- http://www.bankofengland.co.uk

## 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-b5fd17-6b5b6938-22b9-49ca-bec9-1ac10521d5d8. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-6b5b6938-22b9-49ca-bec9-1ac10521d5d8.json.