Tender Title: Group Personal Accident Insurance Service
Reference Number: GEM/2025/B/6132960
Issuing Authority
This tender is issued by the Ministry of Power, specifically under the Hydro Power department. The objective is to procure Group Personal Accident Insurance Services to support the initiatives of the Ministry.
Scope of Work and Objectives
The primary scope of work involves providing comprehensive Group Personal Accident Insurance that covers all employees, as defined in the tender documentation. The selected vendor will be expected to deliver insurance policies that minimize financial risks associated with workplace accidents. The insurance coverage should ensure comprehensive protection for the insured group encompassing various contingencies, especially fatalities or serious injuries occurring during the performance of duty.
Eligibility Criteria
To qualify for this tender, bidders must meet the following eligibility criteria:
- Must be a registered and legally recognized entity.
- Should possess a minimum experience of delivering insurance services for at least three years.
- Experience in handling GPA Insurance for government departments or PSUs will be preferred.
Technical Requirements
Bidders must comply with a set of technical requirements outlined in the tender documentation. Key considerations include:
- Offering a range of coverage with specified limits.
- Provisions for optional add-ons based on customer specifications.
- Ability to provide a dedicated claims management service.
Financial Requirements
Financial requirements include offering competitive pricing while ensuring sufficient coverage. Bidders are expected to outline their financial propositions in detail, ensuring clarity about premium costs and any potential discounts applicable for bulk policies.
Document Submission Details
Bidders must submit their tender documents electronically through the GEM portal as specified in the submission guidelines. Completed bids must include:
- A cover letter.
- Documentation proving eligibility and credentials.
- Detailed financial proposal.
- Any additional documents as specified under the technical requirements.
Special Provisions
This tender includes special provisions for Micro, Small, and Medium Enterprises (MSEs). MSEs are encouraged to participate, and measures will be considered to ensure inclusivity in the evaluation process. Additionally, provisions supporting startups are available, contributing to an ecosystem that fosters innovation.
Evaluation Process
The evaluation process will follow a structured methodology focusing on the quality of service proposed, pricing, and compliance with the prescribed guidelines. A comparative analysis will be conducted to identify the most advantageous bid.
Delivery Locations
The insurance services must be adequate across all relevant operational locations managed by the Hydro Power sector under the Ministry of Power.
Contact Information
For further inquiries regarding this tender, bidders can refer to the official contacts available on the tender portal.
This tender represents an opportunity not only for established firms but also bolstering the participation of smaller businesses and startups, further contributing to the national interest and workforce safety.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
6 DocumentsDocuments Required from Seller
- Additional Doc 1 (Requested in ATC)
- Additional Doc 2 (Requested in ATC)
- Additional Doc 3 (Requested in ATC)
- Additional Doc 4 (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 entity, demonstrating a minimum of three years’ experience in providing insurance services, particularly group personal accident insurance. Bidders should also ideally have prior experience with government departments or public sector undertakings, ensuring they are familiar with governmental processes and protocols.
Bidders must comply with specific technical specifications outlined in the tender, which include offering comprehensive coverage options with defined limits, the ability to handle claims efficiently, and options for additional services tailored to specific needs. Adherence to quality standards and compliance requirements is essential throughout the bidding process to demonstrate capability and reliability.
Each bidder is required to submit an Earnest Money Deposit (EMD) as part of the bid submission. The specifics regarding EMD amount and the conditions for submitting performance security post-award will be delineated in the tender documentation. It’s crucial to ensure that all financial commitments are met to maintain eligibility.
Bids must be submitted electronically through the designated GEM portal. It’s important for bidders to adhere to the timelines indicated in the tender document for both submission and potential clarifications. The process will ensure that all submitted bids are evaluated fairly and within the required timeframe.
Yes, the tender includes specific benefits for Micro, Small, and Medium Enterprises (MSEs), aimed at promoting their participation in government procurements. MSEs can avail of provisions like relaxation in eligibility criteria and assistance in the bidding process, which encourages their involvement and enhances competition while supporting the country’s economic development.
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