Insurance and Associated Services for Colleges
Introduction
The Insurance and Associated Services for Colleges Framework, managed by Crescent Purchasing, falls under the Financial Services category. This framework has been specifically designed to facilitate colleges in the UK in procuring insurance services tailored to their unique needs. Running until 31 January 2025, this framework provides a structured and efficient approach for colleges to purchase insurance directly from insurers, through brokers, or using a combination of both. It aims to streamline the procurement process and ensure that educational institutions have access to comprehensive insurance coverage.
Context & Use Case
Insurance is a critical component for any educational institution, given the diverse range of risks they face. This framework enables colleges to secure necessary insurance coverages in a simplified manner, ensuring they can focus on their primary mission of education without undue concern over potential liabilities. Colleges often face risks related to property damage, liability claims, and various other unforeseen events. The framework is designed to help these institutions mitigate such risks by providing access to a wide array of insurance products tailored to the educational sector's needs.
Scope of Services
The framework covers a broad spectrum of insurance services and products. Typical services available through the framework include: 1. Property Insurance: Covering buildings, contents, and other property-related risks. 2. Liability Insurance: Including public liability, employer's liability, and professional indemnity. 3. Motor Insurance: For college-owned vehicles. 4. Travel Insurance: Covering staff and student travel. 5. Cyber Insurance: Protection against cyber threats and data breaches. 6. Personal Accident Insurance: Covering accidents involving staff and students. 7. Specialist Insurance: Additional coverages tailored to specific college needs, such as event cancellation or equipment breakdown insurance. These services are not exhaustive but represent the core offerings available to colleges within the framework.
Who Can Apply
The framework is open to a variety of suppliers, including insurance providers and brokers, that specialise in educational and institutional insurance. While it is not a Dynamic Purchasing System (DPS), meaning applications are not accepted throughout its duration, eligible suppliers interested in providing services under this framework should have a proven track record in the financial and insurance sector, with specific expertise in educational settings.
Buyer Benefits
For public sector buyers, including colleges, the framework offers several advantages. It ensures compliance with procurement regulations, thus providing peace of mind that the procurement process is legally sound. The framework also supports a quick route to market, allowing colleges to swiftly access necessary insurance services without the need for lengthy tender processes. Furthermore, by leveraging competition among suppliers, colleges can achieve better value for money and access a range of tailored solutions that best meet their insurance needs.
Lots
Not applicable
Next Steps
Suppliers interested in participating in this framework should review the specific requirements set out by Crescent Purchasing and make direct contact with the contracting authority for further details. It is crucial to thoroughly understand the framework's scope and expectations to determine suitability and readiness to engage in this procurement route.
How Biddable Can Help
Biddable supports suppliers by offering resources for discovering relevant frameworks, preparing comprehensive applications, and maintaining visibility of procurement pipelines. With a focus on enhancing supplier readiness and strategic positioning, Biddable aids in navigating the complexities of public sector procurement, ensuring suppliers are well-equipped to engage in opportunities like the Insurance and Associated Services for Colleges Framework.