C20242153 - Benefits Brokerage and support

2025-02-13

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Published date: 13 February 2025

Open opportunity - This means that the contract is currently active, and the buying department is looking for potential suppliers to fulfil the contract.

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Contract summary

Industry

Financial and insurance services - 66000000

Location of contract

SE1 9HA

Value of contract

£300,000

Procurement reference

tender_481072/1445622

Published date

13 February 2025

Closing date

17 March 2025

Closing time

12pm

Contract start date

1 July 2025

Contract end date

30 June 2028

Contract type

Service contract

Procedure type

Open procedure (above threshold)

What is an open procedure (above threshold)?

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements above the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

Description

Ofcom has a requirement for external advice on our employee benefits packages. The requirement is for advice on the brokerage, design and implementation of our core benefits, and also bespoke solutions to suit Ofcom's overall benefits package.

6.2 As a minimum, the service must deliver the following:

- Proven brokerage ability to assist Ofcom in choosing core benefit insurance products: in private medical, life insurance and group income protection product
o Be able to provide advice on how to minimise total costs and premiums
o Be able to provide contract review and negotiation of core benefit insurance products
o Help Ofcom ensure it is compliant with any regulations relevant to the benefits
o Be able to assist in resolving problems, acting as a go between to help resolve any problems with claims or administration of benefits
- Advise on choosing appropriate insurance produces for employee bought benefits: Dental, critical illness, travel
- Give advice on changes to benefits packages based on employee demographics and previous utilization rates

It would be preferable were the service also able to:

- Provide expert advice in all flexible benefits
- Assist with employee communications related to annual benefit enrolment
Any contract(s) awarded following the conclusion of the tender process will be for an initial duration of 3 years which will expire on 30 June 2028. At Ofcom's discretion the contract may be extended for up tp two further periods of 12 months each.
The maximum length of the contract is therefore five years from the services commencement date.