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Tenderpatch

Insurance Brokerage Services

National Wealth Fund Limited

Open Closes in 27 days

Key facts

Closing date
Thursday 12 November 2026, 12:00 (UK time) Closes in 27 days
Buyer's estimated value
£300,000 (excl. VAT) The buyer's own estimate, not income to you.
Clarification questions deadline
26 October 2026, 12:00
Contract period
1 Feb 2027 to 30 Sep 2030
Procedure
Open procedure
Notice type
Tender notice (UK4)
Suitable for SMEs (per buyer)
Yes

Decision brief

Taken from the buyer's published notice (shown as written, shortened where long). Tenderpatch has not added to or interpreted it. Always read the official documents before bidding.

How bids will be scored
  • Technical 70% : Quality will be assessed based on the Appendix 7 Technical Response - Award Criteria and Appendix 5 Tender Assessment Methodology. Questions and weightings are as follows: 1) Core Service Delivery - Renewals Process - 2…
  • Commercial 30% : Suppliers are asked to complete Appendix 8 - Pricing template, providing a fixed price for the initial PA23 compliant market reviews for the Funds Insurance requirements, the subsequent award and the Annual fee for the…
Conditions of participation (what you must show)

economic Please see the conditions of participation in Appendix 6 – Procurement Specific Questionnaire included within the Invitation To Tender document.

Contract length and extensions
1 Feb 2027 to 30 Sep 2030. Extensions: 2 optional 12 month extensions are included in the contract, subject to performance. Options: NA
How to submit
This opportunity will go live on Thursday 15th October 2027. To gain access to the documentation and submit your proposal for this opportunity, please register on Atamis, available on the following link: https://atamis-3929.my.site.com/s/Welcome Suppliers should follow the steps below to locate and… Open atamis-3929.my.site.com ↗ Electronic submission: allowed.
Changes the buyer has announced
  • Updated link to Atamis.
Tender documents
No document links in the notice. Use the official notice link.
New to public tenders? Plain-English guide to this page
Framework
An agreement that sets terms for work the buyer may order later, often from several suppliers. The value shown usually covers the whole agreement, not one job.
Open for bids / closing date
You must submit by the closing date and time, normally through the buyer's own online portal. Late bids are normally refused.
Clarification questions
A deadline for asking the buyer questions about the tender. It is earlier than the closing date.
Conditions of participation
What the buyer asks suppliers to show before they can be considered, such as experience, insurance or accreditations.
Bids are scored on
How the buyer will compare bids, usually a split between price and quality. A 60/40 split in favour of quality means the cheapest bid will not necessarily win.
Lots
A tender can be split into parts. You can often bid for only the lots that suit you.
Area (ITL)
The buyer names an official statistical area for where the work is, not a street address. Check the tender documents for the actual sites.
UK4 and other notice codes
Official codes for the type of notice. A "tender notice" means bids are being invited.

General explanations written by Tenderpatch, not part of this notice.

Description

The National Wealth Fund (“the Fund”) currently provides Life Assurance and Income protection as benefits to all its employees, with the Fund putting in place group policies for both benefits via an insurance broker contract. The Fund is looking to put in place a new contract for Insurance Brokerage Services to award and manage the placement of future Group Income protection and Group Life Assurance Insurance policies on its behalf. These policies will need to be placed in a manner that is compliant with the Procurement Act 2023 (PA23). It is anticipated that these new group policies will be put in place with a guaranteed rate of 2-3 years (to be agreed with the successful supplier). Following the award of these policies the successful supplier will be required to manage any claims on behalf of the Fund on an annual basis, advise on any market changes that may impact the Fund's policies and make recommendations on whether to keep existing policies or undertake a new PA23 compliant market assessment to put in place new policies. CONTRACTING AUTHORITIES THAT MAY USE THIS CONTRACT: National Wealth Fund Limited British Business Bank PLC British Business Bank (BBB) may also look utilise the brokerage services under the awarded contract as a service recipient to put in place future insurance requirements in a PA23 compliant manner. They currently have the insurance policies below, however please note this is shared for awareness only and Suppliers are not expected or required to be able to act as a Broker for all of these: • Employers liability insurance • Professional Indemnity • Cyber • Travel • Life • Private medical • Credit risk The total contract value declared in this notice takes into account the possibility of BBB utilising this contract, and should not be as a commitment or guarantee of the level of spend under any subsequent contract.