How to win: Insurance Brokerage Services

About this contract

The National Wealth Fund (“the Fund”) currently provides Life Assurance and Income protection as benefits to all its employees, with the Fund putting in place group policies for both benefits via an insurance broker contract. The Fund is looking to put in place a new contract for Insurance Brokerage Services to award and manage the placement of future Group Income protection and Group Life Assurance Insurance policies on its behalf. These policies will need to be placed in a manner that is compliant with the Procurement Act 2023 (PA23). It is anticipated that these new group policies will be put in place with a guaranteed rate of 2-3 years (to be agreed with the successful supplier). Following the award of these policies the successful supplier will be required to manage any claims on behalf of the Fund on an annual basis, advise on any market changes that may impact the Fund's policies and make recommendations on whether to keep existing policies or undertake a new PA23 compliant market assessment to put in place new policies. CONTRACTING AUTHORITIES THAT MAY USE THIS CONTRACT: National Wealth Fund Limited British Business Bank PLC British Business Bank (BBB) may also look utilise

How to win contracts like this

• ✓Answer against the marking scheme, not the question text — National Wealth Fund Limited scores each response, so map your evidence to the published criteria and weightings.
• ✓At £300,000, expect quality and social value to carry a large share of the score — price alone rarely wins services work.
• ✓Show recent, comparable delivery: name similar services contracts you've delivered for public bodies, with measurable outcomes.
• ✓Start early: it closes 12 November 2026 and a strong bid takes iteration.

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