Section one: Contracting authority
one.1) Name and addresses
Floor Re
75 King William Street
London
EC4N 7BE
Country
United Kingdom
NUTS code
UK - United Kingdom
Internet address(es)
Main address
https://www.floodre.co.uk/about-us/
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://procurementsolutions.esourcingportal.com
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
https://procurementsolutions.esourcingportal.com
one.4) Type of the contracting authority
National or federal Agency/Office
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Independent Internal Model Validation Services
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.1.4) Short description
Flood Re requires the provision of independent validation services for the next phase of PIM development and validation. The scope and structure of the PIM developed in the early stages of IMAP, with the current scope of the model having been settled since 2017. Flood Re’s Risk Team have been supported by third parties for a number of these validation exercises, and this Procurement seeks to select a 3rd party partner for [at least] the next four years of Independent Validation activity
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 66700000 - Reinsurance services
two.2.3) Place of performance
NUTS codes
- UKI4 - Inner London – East
two.2.4) Description of the procurement
Flood Re requires the provision of independent validation services for the next phase of PIM development and validation. The scope and structure of the PIM developed in the early stages of IMAP, with the current scope of the model having been settled since 2017. Flood Re’s Risk Team have been supported by third parties for a number of these validation exercises, and this Procurement seeks to select a 3rd party partner for [at least] the next four years of Independent Validation activity
two.2.5) Award criteria
Quality criterion - Name: Quality / Weighting: 65
Quality criterion - Name: Social Value / Weighting: 10
Price - Weighting: 25
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
48
This contract is subject to renewal
Yes
Description of renewals
12 months
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.2) Economic and financial standing
Selection criteria as stated in the procurement documents
three.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
6 June 2022
Local time
12:00pm
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.7) Conditions for opening of tenders
Date
6 June 2022
Local time
12:00pm
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.2) Information about electronic workflows
Electronic ordering will be used
Electronic invoicing will be accepted
Electronic payment will be used
six.3) Additional information
(MT Ref:226171)
six.4) Procedures for review
six.4.1) Review body
Public Procurement Review Service
Cabinet Office
London
publicprocurementreview@cabinetoffice.gov.uk
Telephone
+44 3450103503
Country
United Kingdom
Internet address
https://www.gov.uk/government/publications/public-procurement-review-service-scope-and-remit