Contracts and Materials Tender by Damodar Valley Corporation (17932b8de)
Group Personal Accident Insurance Service - Contract Employees; Only accidental death (not natural)
Tender Timeline
Tender Title: Group Personal Accident Insurance Service - Contract Employees
Reference Number: 17932b8de
Issuing Authority: Ministry of Power, Contracts and Materials Department
Scope of Work and Objectives
The primary objective of this tender is to procure comprehensive Group Personal Accident Insurance Service for contract employees. This service will cover various aspects of accidental death as well as disabilities incurred due to accidents. The insurance must specifically include coverage for Permanent Total Disability, Permanent Partial Disability, and Temporary Disabilities. The selected contractor will be responsible for providing a seamless insurance service that ensures the safety and well-being of all covered employees during their tenure.
Eligibility Criteria
To qualify for this tender, bidders must ensure they meet the necessary eligibility requirements. Only registered entities specializing in insurance services are eligible to participate. The bidders must demonstrate their operational capacity and financial stability, validating their ability to deliver services in alignment with the stipulated requirements.
Technical Requirements
Bidders should provide detailed documentation that includes their insurance policies' specifics, compliance with prevailing insurance regulatory standards, and the capacity to manage a clientele of approximately 12,000 contract employees. Additionally, any prior experience showcasing successful insurance services will be beneficial for the evaluation process. All technical proposals must highlight adherence to both national and regional quality standards in insurance coverage.
Financial Requirements
The tender calls for competitive financial proposals that reflect the projected cost for providing the group insurance service. Applicants must be prepared to furnish any relevant financial documents that showcase their economic viability and pricing structure. The financial offer should encompass all aspects of insurance coverage, including premium rates and any associated fees.
Document Submission Details
Bidders are required to submit their proposals through the designated online platform. All bids must comprise the necessary supporting documents, including legal and financial certificates, insurance policy details, and any additional certifications pertinent to the insurance industry. Special attention should be given to ensure all submissions adhere to the specified format as outlined in the tender documentation.
Special Provisions
This tender encourages participation from Micro, Small, and Medium Enterprises (MSEs), as well as startups. Such entities will benefit under existing policies that promote inclusive participation, promoting a diverse and competitive environment.
Evaluation Process
The evaluation will consider both technical and financial proposals submitted. Each proposal will be meticulously reviewed based on the compliance with eligibility criteria, technical specifications, and overall cost-effectiveness. Weightage will be provided to bidders with prior experience in managing large insurance contracts and those exhibiting robust compliance with insurance standards.
Delivery Locations
The services required under this tender will be rendered to various locations, primarily where the contract employees are engaged under the Ministry of Power's projects.
Contact Information
For further inquiries, interested parties may reach out to the Contracts and Materials Department of the Ministry of Power. It's crucial for applicants to ensure their questions pertain directly to the tender specifications.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
8 DocumentsDocuments Required from Seller
- Bidder Turnover
- Additional Doc 1 (Requested in ATC)
- Additional Doc 2 (Requested in ATC)
- Additional Doc 3 (Requested in ATC) *In case any bidder is seeking exemption from Experience / Turnover Criteria
- the supporting documents to prove his eligibility for exemption must be uploaded for evaluation by the buyer
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Frequently Asked Questions
The eligibility requirements include being a registered entity specializing in insurance services, possessing insurance regulatory certifications, and demonstrating financial stability. Bidders should present proof of experience in managing insurance policies for large groups, specifically reflecting capacity for handling around 12,000 contract employees.
Bidders must submit several required certificates, including valid registration certificates, insurance compliance certifications, and any relevant financial documents that demonstrate sustainability. These documents ensure that the bidders can meet all compliance requirements outlined in the tender.
All submissions must be made through the designated submission methods on the online platform specified in the tender documentation. Bidders should compile all required documents in the accepted formats and ensure that proposals are completed before the specified deadline to avoid disqualification.
The performance security requirements typically involve securing an amount equivalent to a percentage of the total contract value, ensuring that the insurance provider adheres to the agreed terms. This measure serves as a guarantee that the provider will fulfill their responsibilities efficiently and maintain compliance throughout the contractual period.
The tender includes special provisions that encourage participation from MSEs and startups, including eligibility for preferential evaluation and support under government procurement policies. These provisions are designed to foster competitiveness and enhance the participation of smaller enterprises in public tenders, aligning with initiatives encouraging the Make in India philosophy.
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