Motor Insurance and Related Services - GEM/2025/B/6280528
Motor Insurance Service - 4 Wheeler; 0 to 1000 cc, 1001 to 1500 CC, 1501 to 2500 CC, Above 2500 CC,
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Tender Description
Motor Insurance and Related Services - 1b07d8424
Overview
The Motor Insurance Service tender, referenced as 1b07d8424, is being issued by the Department of Financial Services under the Ministry of Finance. This tender invites qualified bidders to provide a comprehensive range of motor insurance services that applies to vehicles with engines ranging from 0 to above 2500 cc. The services include general motor insurance, group personal accident insurance for contractual employees, liability insurance, and assets insurance covering various contingencies.
Scope of Work and Objectives
The primary objective of this tender is to procure reliable and efficient motor insurance services that will cover various vehicle categories, including both personal and commercial uses. This encompasses policy options for:
- 4-Wheeler Motor Insurance: Targeting vehicles of different engine capacities.
- Group Personal Accident Insurance: Focused on accidental coverage for contracted employees.
- Liability Insurance Services: Including indemnity policies and coverage for various liabilities such as directors and officers liability.
- Asset Insurance Services: Protecting against theft, property damage, and special contingencies.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
7 DocumentsDocuments Required from Seller
- Experience Criteria
- Bidder Turnover
- Certificate (Requested in ATC)
- OEM Authorization Certificate
- OEM Annual Turnover
- Additional Doc 1 (Requested in ATC)
- Additional Doc 2 (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
Corrigendum Updates
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Frequently Asked Questions
The eligibility requirements include being a registered and recognized entity in the insurance sector, holding a valid license to operate within the country, and having prior experience in offering motor insurance services. Bidders must demonstrate adherence to all regulations set forth by governing insurance bodies to be considered.
The technical specifications entail compliance with regulatory standards governing motor insurance products, including providing policies that address varied vehicle categories from 0cc to 2500cc and above. Bidders are expected to present a robust claims management process that assures quality service delivery to policyholders.
The registration process for participating in the tender involves creating an account on the government e-marketplace (GEM) portal, followed by the submission of necessary documents and proposals as outlined in the tender. The submitted documents need to confirm the bidder’s eligibility and capability to deliver the requisite insurance services.
Accepted document formats include PDF for submission of the technical and financial proposals, along with any supplementary certificates and evidence of compliance with regulation standards. It’s crucial that all documents are clear, informative, and structured to facilitate effective evaluation.
MSEs participating in this tender can avail special provisions and considerations that enhance competitive positioning. The tender encourages inclusive participation by reducing barriers and offering potential financial support, thereby fostering a conducive environment for smaller businesses and startups in the insurance sector.
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