Insurance Placement Dynamic Purchasing System
STATUS - Active
REFERENCE - YPO 978 Insurance Placement DPS
NEPO in collaboration with YPO and ESPO have created a compliant and efficient route to procuring insurance cover. Following market research and engagement two separate contractual arrangements have been developed:
- Insurance Placement Dynamic Purchasing System: this solution will provide access to pre-qualified insurance providers offering provision of all classes of insurance.
- Insurance Brokerage & Associated Services: this solution allows direct comparison of each insurance broker and for the appointment of one chosen insurance broker to represent the contracting authority on all matters relating to insurance.
The insurance market is dominated by a few market leaders who can offer all types of insurance. However, there are also several niche or specialist insurers who do not have the capacity to deliver all requirements, but will offer competitive quotes on individual lines. Additionally, the nature of the insurance market is cyclical, characterised by a fluctuating availability of insurers. Insurers join and leave the public sector depending on current market conditions.
The Insurance Placement Dynamic Purchasing System ('DPS') allows contracting authorities to:
- customise requirements
- access a dynamic and fluid insurance market
- increase competition and shape the market as insurers can join the DPS at any time
- procure any type of cover including highly specialist and niche insurance classes
- streamline the procurement process
In collaboration with YPO and ESPO, NEPO are continuously working with the insurance industry to ensure the DPS offers the best route to the insurance market.
REFERENCE YPO 978 Insurance Placement DPS
START DATE 30/07/2019
FINAL END DATE SUBJECT TO EXTENSION(S) 29/07/2024
CONTRACT AWARD NOTICE 2019/S106-259145
SUPPLIERS Alesco Risk Management Allianz Insurance Plc Aon Underwriting Managers Aspen Insurance Avid Aviva Plc British Engineering / RSA Chubb European group SE First Underwriting Ltd Hiscox Syndicate maven Maven Public Sector Motor Accident Protection Ocaso Protector Risk Management Partners SAGIC Limited Travelers Volante Global/Edison Motor XL Catlin Insurance Company UK (AXA) Zurich
AVAILABLE FOR USE BY All Associate Members/Member Authorities
Procurement Specialist - Corporate Services and ICT
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