Provision of Insurance Brokerage Services Tender Reference #TR1819-001

The National Insurance Board of Trinidad and Tobago (NIBTT) is a body corporate established by the National Insurance Act, Chap. 32:01. The NIBTT is responsible for the operation and administration of the National Insurance System (NIS) and hereby invites suitably qualified firms/individuals to submit proposals for the provision of the captioned services.

Collection of Proposal Documents

Proposal documents will be made available upon payment of a TT$500.00 non-refundable fee, payable at the NIBTT's Corporate Headquarters, 14-19 Queen's Park East, Port of Spain.

Accepted Methods of Payment

Cash or Certified Cheques are accepted and payable at the aforementioned address,  Mondays - Fridays between 8:30 a.m. and 3:00 p.m. local time. The deadline date for payment is August 10th 2018 at 3:00 p.m. local time.

Closure Date

The deadline date for submission of proposals is August 17th 2018 2:00 p.m. local time.

Evaluation Criteria

Proposals will be evaluated according to pre-defined criteria, which, in summary, are designed to determine:

  • Broker experience and record of past performance in the delivery of the required services (including customer feedback). The availability of qualified personnel with the required skills and experience to service the NIBTT's account.
  • Broker's financial stability and viability.
  • Evaluation criteria/rationale for insurer/coverage selection.
  • Performance and financial stability and viability of companies selected on the insurance portfolio, in particular the lead insurance (Re: Market standing, Solvency, Liquidity, Claims handling, Reports, Pricing and Capability).
  • Customer Service process with a clear focus on addressing insurance needs (including but not limited to claims management process, timelines/timeliness, feedback, availability for meeting/presentations, reporting on the performance of the portfolio i.e. loss ratio/loss runs).
  • Quality management process (including proactive risk analyst and evaluation of potential risk as well as possible recommendations for insurance portfolio enhancements/benefits with regards to possible variations/additions to existing portfolio coverage which add value and are cost effective.
  • Value proposition of insurance coverage (Value for Money*)
  • Value added services (additional services that the broker provides associated with the insurances commission: excellent negotiation skills and business relationship: market research/rate information).

Submission Instructions

Proposals are to be deposited in the appropriately marked tender box located in the lobby at the NIBTT's Corporate Headquarters, 14-19 Queen's Park East, Port of Spain and addressed to corporatesecretary@nibtt.net by August 17th 2018 at 2:00 p.m. local time. All other requirements relative to the submission of proposals are outlined in the document.


Should further information be required in respect of this advertisement, queries may be directed as follows:

The Manager Procurement
National Insurance Board of Trindad and Tobago
14-19 Queen’s Park East, Port of Spain
rramrattan@nibtt.net

 

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National Insurance Board of Trinidad and Tobago (NIBTT)