Motor Insurance Service - Department of Commerce
Motor Insurance Service - 4 Wheeler; 1001 to 1500 CC
Tender Timeline
Tender Title: Motor Insurance Service
Reference Number: f1d639d2
Issuing Authority/Department
Department of Commerce, under the Ministry of Commerce and Industry is the issuing authority for this tender.
Scope of Work and Objectives
The Motor Insurance Service tender aims to procure comprehensive insurance coverage for 4 Wheeler vehicles in the capacity range of 1001 to 1500 CC. This tender encompasses various aspects such as liability coverage, damage protection, personal accident benefits, and any necessary extensions that ensure financial security and legal compliance related to vehicle management.
The objectives include optimizing coverage for government-managed vehicles while ensuring cost-effectiveness and reliable service through reputed insurance providers. This initiative supports the overall infrastructure and administration of government transport services.
Eligibility Criteria
To submit proposals, bidders must fulfill the following eligibility requirements:
- Registration as a licensed insurance provider approved by relevant regulatory authorities.
- Proven industry experience with a minimum of [insert years] in providing motor insurance services.
- Capability to underwrite risks associated with vehicles in the specified category.
Technical Requirements
Bidders must demonstrate:
- Comprehensive knowledge of insurance regulations and adherence to compliance mandates.
- Availability of dedicated customer service for policyholders.
- Technical infrastructure to handle claims efficiently and expediently.
Financial Requirements
Bidders are required to submit their financial proposals alongside proof of financial stability, indicating their capacity to deliver the insurance service adequately. This includes:
- Submission of the latest audited financial statements.
- Evidence of the ability to manage claims within set timeframes.
Document Submission Details
All interested parties should prepare and submit their documents electronically through the prescribed portal before the deadline. Required documents include:
- Company registration certificates.
- Detailed profiles of proposed insurance coverage.
- Financial proposals and supporting documentation.
Special Provisions
Special provisions are included to encourage participation from Micro, Small, and Medium Enterprises (MSEs) and startups. These provisions aim to promote equitable opportunities in government procurement to ensure inclusivity.
Evaluation Process
The evaluation of bids will be conducted based on comprehensive criteria, including:
- Technical compliance with the requirements.
- Financial viability and competitiveness of the price proposals.
- Past performance and reputation within the industry.
Delivery Locations
The services contracted through this tender will cover various governmental organizations dispersed across different geographical locations as determined by the requirements of the Department of Commerce.
Contact Information
For additional information or inquiries regarding this tender, interested bidders may contact the Department of Commerce directly via official channels available on their website.
This comprehensive description outlines the primary details pertaining to the Motor Insurance Service tender and serves as a guide for potential bidders to align their proposals with the project expectations and requirements.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
6 DocumentsDocuments Required from Seller
- Certificate (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, recognized as a licensed insurance provider, and having adequate experience in providing motor insurance services specifically for 4 Wheeler vehicles ranging from 1001 to 1500 CC. Bidders must also demonstrate compliance with industry regulations and possess the financial capability to manage claims effectively.
Bidders must submit valid company registration certificates and insurance licensing documents recognized by regulatory authorities. Additionally, proof of past insurance service contracts and client testimonials can enhance credibility during the evaluation process.
The registration process requires bidders to complete the online submission form through the designated platform. Necessary documents, such as licensing proofs and technical proposals, should be uploaded, ensuring that all submissions align with the outlined guidelines and deadlines to be considered.
Bidders must submit detailed financial proposals, including the latest audited financial statements and evidence of stability to manage claims. Financial evaluations will focus on ensuring that providers can deliver services effectively while being cost-competitive.
Yes, the tender includes special provisions aimed at supporting Micro, Small, and Medium Enterprises (MSEs) and startups. These provisions help encourage equitable participation in the tender process, promoting inclusivity and economic empowerment within the procurement framework.
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