Group Personal Accident Insurance Service for Permanent Employees

The eligibility requirements to participate in this tender include being a licensed entity in the insurance domain, demonstrating a track record of experience with personal accident insurance services, and meeting the financial criteria stipulated by Power Finance Corporation. Organizations must also comply with all regulatory standards set forth by governing bodies.

Bidders must fulfill specific technical specifications that encompass providing comprehensive accident coverage. This includes clear definitions regarding the range of disabilities, timelines for claims processing, and a responsive customer support structure. Proposals must also clearly demonstrate adherence to quality standards and compliance with all relevant regulatory requirements to ensure a smooth operational experience.

The selected bidder will be required to furnish a performance security, as dictated by the contract conditions, to guarantee compliance with the service provisions set forth in the agreement. This security will typically align with percentage thresholds based on the awarded contract value, ensuring that the insurance provider stands accountable for fulfilling obligations.

Proposals for this tender must be submitted in a specified format that adheres to the instructions provided in the tender notice. It is vital that all documents are organized, clearly formatted, and submitted through the designated channels, meeting all guidelines regarding timelines and required documentation formats.

Yes, there are specific benefits for MSEs and startups. Such organizations will receive special provisions aimed at encouraging their participation in this tender. This includes potential relaxation of certain eligibility criteria and considerations during the evaluation process, thus fostering inclusivity in government procurement initiatives.