Insurance Brokerage Framework and Insurance Placement DPS
Introduction
The Insurance Brokerage Framework and Insurance Placement Dynamic Purchasing System (DPS), managed by YPO, falls under the Financial Services category. This procurement structure serves as a strategic mechanism for public sector entities to engage with qualified insurance brokers. The framework and DPS are designed to streamline the process of placing and managing insurance policies, thereby ensuring that organisations secure the appropriate insurance coverage for their specific needs. This DPS, unlike traditional frameworks, allows for continuous application, enabling new suppliers to join at any point during its lifecycle, thus maintaining a dynamic and competitive environment.
Context & Use Case
Within the public sector, managing risk through effective insurance coverage is crucial. Contracting authorities utilise the Insurance Brokerage Framework and DPS to access a diverse array of insurance services. This includes risk management consultations, policy advice, and claims handling, all of which are essential for the smooth operation of public sector organisations. By leveraging this DPS, these entities can efficiently connect with insurance brokers equipped to offer expert guidance and management of insurance policies, ensuring that their coverage is both comprehensive and cost-effective.
Scope of Services
The Insurance Brokerage Framework and DPS cover a broad spectrum of services, typically including: 1. Risk management advice to identify and mitigate potential liabilities. 2. Insurance policy placement, ensuring access to appropriate and competitive insurance products. 3. Policy advice and consultation to tailor insurance solutions to specific organisational needs. 4. Claims handling to support organisations in managing and resolving insurance claims effectively. 5. Ongoing account management to maintain and optimise insurance coverage throughout the policy term.
Who Can Apply
The DPS is open to a variety of suppliers, primarily those specialising in insurance brokerage services. Given the dynamic nature of a DPS, there is flexibility for suppliers to apply for inclusion at any point, providing they meet the necessary qualifications and can demonstrate their capability to deliver the required services. This openness encourages a competitive marketplace, ensuring that public sector buyers have access to a wide range of expert providers.
Buyer Benefits
Public sector buyers benefit from using the Insurance Brokerage Framework and DPS in several ways. The structured procurement process ensures compliance with public sector procurement regulations, providing a legally sound route to market. Additionally, the DPS format offers speed and efficiency, allowing buyers to quickly identify and engage with suitable suppliers. The competitive environment fostered by the DPS helps drive value for money, with multiple suppliers vying to deliver the best services at competitive rates.
Lots
Not applicable
Next Steps
Suppliers interested in participating should thoroughly review the specific requirements and conditions outlined by YPO. Engaging directly with the contracting authority will provide further insights into the application process and necessary qualifications. Suppliers are encouraged to maintain a high standard of service delivery to meet the expectations of public sector buyers effectively.
How Biddable Can Help
Biddable is positioned to support suppliers in navigating the complexities of public sector procurement frameworks such as the Insurance Brokerage Framework and DPS. By offering services that enhance discovery, preparation, and visibility of potential opportunities, Biddable aids suppliers in effectively positioning themselves within the competitive landscape of public sector procurement. Our resources and expertise help suppliers stay informed and prepared, enabling them to respond adeptly to opportunities as they arise.