Published date: 23 November 2017
Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.
Contract summary
Industry
Insurance services - 66510000
Location of contract
London
Value of contract
£320,000
Procurement reference
tender_159500/634246
Published date
23 November 2017
Closing date
3 January 2018
Contract start date
1 April 2018
Contract end date
31 March 2021
Contract type
Service contract
Procedure type
Open procedure
Any interested supplier may submit a tender in response to an opportunity notice.
Contract is suitable for SMEs?
Yes
Contract is suitable for VCSEs?
No
Description
The London Borough of Hillingdon (the Council) is seeking to appoint a sole supplier for the provision of its Tenants Contents Insurance Scheme.
The proposed new contract will be for 3 years, from 1st April 2018 with the option to extend for a further 2 years beyond the initial contact term. The current contract expires on 31st March 2018.
The Tenants Contents Scheme is an insurance product for Hillingdon's tenants who find themselves financially excluded from the mainstream home contents insurance market. Currently 812 tenants buy into the Tenants Contents Insurance Scheme, which is just under a 10% take-up rate. The scheme is not intended to rival individual contents policies offered by mainstream insurance providers and unlike these standard contents insurance policies, the Tenants Contents Insurance Scheme has minimal entry criteria, to ensure the scheme is as inclusive as is reasonably possible.
The Tenants Contents Insurance Scheme has two significant features. The first is that, unlike mainstream policies which charge by monthly direct debt or an annual premium,tenants purchasing insurance through the Tenants Contents Scheme pay a weekly premium which is collected with the tenant's rent. Secondly, it offers tenants the ability to purchase cover for smaller sums insured than mainstream policies, with sums insured on the Tenants Contents Scheme starting as low as £5,000. The majority of mainstream policies provide minimum sums insured that exceed the requirements for these low income households.
The value of this contract is estimated at £320k based on the premiums over a 5 year period.
More information
Additional text
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The full suite of tender documents can be found the tender portal, www.capitalesourcing.com
About the buyer
Address
Civic Centre, High Street
Uxbridge
UB8 1UW
England
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Closing: 3 January 2018
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