NA Tender by Employees State Insurance Corporation (esic) (196921b0a)
Assets Insurance Service - Mega Risk Insurance, Terrorism Insurance, Electronic Equipment Insurance
Tender Timeline
Tender Title and Reference Number
Tender Title: Assets Insurance Service - Mega Risk Insurance, Terrorism Insurance, Electronic Equipment Insurance
Tender Reference Number: 196921b0a
Issuing Authority/Department
This tender is issued by the Ministry of Labour and Employment, responsible for overseeing and facilitating this procurement process within the framework of government regulations.
Scope of Work and Objectives
The primary aim of this tender is to secure comprehensive insurance coverage for a broad array of assets, including but not limited to Mega Risk Insurance, Terrorism Insurance, Electronic Equipment Insurance, and several property damage insurances. The successful bidder will be tasked with providing tailored insurance solutions that ensure comprehensive protection of critical assets against various risks, including natural disasters and man-made threats.
Key objectives include:
- Mitigating financial risks associated with asset loss or damage.
- Ensuring coverage against terrorism-related incidents.
- Providing specialized insurance for electronic and high-value equipment.
- Offering a robust framework for claims and timely support.
Eligibility Criteria
To be considered for this tender, bidders must meet specific eligibility requirements which include being a registered and legally operational insurance firm. Furthermore, bidders must demonstrate relevant experience in providing large-scale insurance services, particularly in areas specified within the tender specifications.
Technical Requirements
The technical proposal must outline:
- Details of the insurance offerings, including types of coverage.
- Evidence of prior experience with similar contracts.
- Comprehensive risk assessments for the assets to be insured.
- Customer service protocols for claims management.
Financial Requirements
Bidders are expected to submit a complete financial proposal that includes:
- A breakdown of premiums.
- Any applicable deductibles and limits of liability.
- Terms of payment, including payment schedule if applicable.
Document Submission Details
All tender submissions must be electronically submitted via the designated platform. Bidders are required to upload all relevant documentation detailing their technical and financial proposals by the specified submission deadline. Complete proposals are critical for evaluation.
Special Provisions
The tender may include special considerations for Micro, Small, and Medium Enterprises (MSEs) and startups aimed at promoting inclusivity in government contracts. Bidders are encouraged to highlight their eligibility for such benefits in their proposals.
Evaluation Process
The evaluation process will be conducted based on predefined criteria assessing both the technical proposal (including coverage provisions, customer support, and past performance) and financial aspects (pricing and terms). Proposals will be ranked accordingly, and the highest-ranking bidder will be offered the contract.
Delivery Locations
Insurance services will be applicable nationwide, covering assets located across various delivery locations as specified in the proposal documents. It is crucial for bidders to demonstrate capability to offer services in all intended areas.
Contact Information
For inquiries related to this tender, please refer to the official communication channel provided on the tender platform. All queries should be directed through the specified channels to ensure a timely and effective response.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
5 DocumentsDocuments Required from Seller
- Experience Criteria
- Bidder Turnover
- Certificate (Requested in ATC)
- Additional Doc 1 (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 with the necessary licenses to operate as an insurance provider. Companies must demonstrate relevant experience in handling large-scale insurance contracts and provide proof of previous successful projects. Specific documentation may also be required to indicate compliance with regulatory standards.
Bidders are required to fulfill stringent technical specifications that include comprehensive risk assessments, detailed insurance offerings, and established customer service protocols for claims management. Successful bidders will need to present clear evidence of their capabilities and past performance in offering similar insurance solutions.
The Earnest Money Deposit (EMD) requirements must be outlined in the bid documents. Bidders will typically be required to submit an EMD along with their proposal to demonstrate financial commitment. Details regarding the amount and payment methods will also be specified in the tender documents.
Submissions should be made electronically via the designated tender platform. Bidders are advised to carefully follow submission guidelines and ensure all required documents are uploaded prior to the submission deadline to avoid disqualification.
Yes, the tender includes provisions encouraging participation from Micro, Small, and Medium Enterprises (MSEs) and startups. Bidders who qualify may receive benefits that support their inclusion in the procurement process, promoting a diverse and competitive bidding environment.
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