Tender Title and Reference Number

Motor Insurance Service for 4 Wheelers
Bid Number: 6c631769

Issuing Authority/Department

Coal India Limited under the Ministry of Coal is responsible for issuing this tender.

Scope of Work and Objectives

The purpose of this tender is to procure comprehensive motor insurance services for 4-wheel vehicles, including those with engine capacities ranging from 1001 to 1500 CC, 1501 to 2500 CC, and above 2500 CC. The contractor will provide insurance coverage that encompasses damage, theft, and third-party liability. Our objective is to secure reliable insurance that mitigates the financial risks associated with vehicle ownership and use within the operational framework of Coal India Limited.

Eligibility Criteria

To be eligible to participate in this tender, bidders must be registered entities that meet the following criteria:

• Valid registration with the relevant regulatory bodies.
• Proven experience in providing motor insurance services, especially for fleet vehicles.
• Compliance with applicable insurance regulations and standards.

Technical Requirements

Bidders are required to meet the following technical specifications:

• The insurance coverage must include comprehensive, third-party, and theft coverage for multi-category vehicles.
• Ability to process claims efficiently and within stipulated time frames, with a robust customer support system in place.
• Provision of digital platforms or mobile applications for managing policies and claims.

Financial Requirements

Bidders must present the following financial documents:

• Proof of financial stability, including audited financial statements for the last two fiscal years.
• A detailed proposal for pricing structures that includes premium rates, payment terms, and conditions.
• Information regarding any upfront fees, taxes, and potential discounts should also be included.

Document Submission Details

All submissions must be made in a sealed envelope and delivered to the specified address of Coal India Limited. The proposal must include:

• A signed tender application form.
• Technical and financial proposals.
• All supporting documents, as required per the eligibility criteria.

Special Provisions

There will be specific provisions available for Micro, Small, and Medium Enterprises (MSEs) and startups to encourage participation. This may include preferential treatment during the evaluation phase and potential budget allocation for MSE bidders.

Evaluation Process

The evaluation process will be undertaken on a dual basis:

1. Technical Evaluation: Assessing the capabilities and compliance of bidders based on technical submissions.
2. Financial Evaluation: Analyzing pricing proposals while ensuring they are aligned with the market rates and offerings.

Delivery Locations

Insurance coverage will be applicable to vehicles under the ownership of Coal India Limited, distributed across multiple locations where the corporation operates.

Contact Information

For detailed inquiries regarding the tender, potential bidders are encouraged to reach out to the designated point of contact at Coal India Limited.

This tender seeks to establish a partnership that ensures quality service delivery while hedging against the risks associated with our fleet operations. All interested participants are invited to submit their proposals in accordance with the specifications above.