Open Tender for Renewal of Insurance Policies for the Year 2023-24 in ERNAKULAM, KERALA
N/A
ERNAKULAM, KERALA
Posted:
9 February 2023
Closed:
2 March 2023
EPROCURE
Open Power and Energy NPROCURE
Government Tender for Annual Insurance Renewal 2026 for GIGL - Power & Energy Sector
Bid Publish Date
15-Nov-2025, 4:00 pm
Bid End Date
27-Nov-2025, 5:00 pm
Location
Progress
Issue15-Nov-2025, 4:00 pm
AwardPending
Tender Type
Open
Sector
Power and Energy
Contract Form
Service
Completion Period
As per tender Document Attached
Currency Type
Single
Categories
2
This government tender offers insurance companies a strategic opportunity to participate in the Annual Insurance Renewal 2026 for GIGL. The tender emphasizes transparency, technical compliance, and competitive pricing, inviting qualified insurers to submit bids via the online nProcure platform. Bidders must demonstrate minimum 10 years of operational experience in India, meet financial stability criteria, and possess valid Digital Signatures. The process involves multiple stages: primary, technical, and commercial, with deadlines set for November 15-26, 2025. The successful bidder will provide comprehensive insurance coverage for GIGL's assets and operations, ensuring seamless renewal and claims management. This is a significant government procurement opportunity in the power and energy sector for reputed insurance firms seeking large-scale corporate contracts. Bidders are encouraged to review all tender documents and participate in vendor training sessions to ensure compliance and successful submission.
Scope Of Work
The scope of work includes:
- Providing comprehensive insurance coverage for GIGL's assets and operations for the year 2026.
- Ensuring compliance with all statutory and regulatory requirements.
- Submitting all necessary documentation as per tender guidelines.
- Coordinating with GIGL's designated representatives for policy issuance and renewal.
- Handling claims and post-issuance support during the policy period.
The process involves:
- Pre-bid submission: Bidders must submit e-Auction User Details and technical documents.
- Technical evaluation: Submission of documentary evidence for business operations, financial stability, and technical capacity.
- Commercial evaluation: Submission of signed and stamped price bids for RFQ I, II, and III.
- Final award: Based on technical and commercial evaluations, the contract will be awarded to the most suitable bidder.
Key deliverables include:
| Deliverable | Description |
|---|---|
| Insurance Policy | Comprehensive coverage document for 2026 |
| Claims Support | Assistance during policy period |
| Documentation | Complete bid and technical documents |
The selected insurer must ensure timely policy renewal, effective coverage, and adherence to all contractual obligations.
Technical Specifications
The technical specifications require bidders to demonstrate:
| Parameter | Requirement |
|---|---|
| Business in India | Documentary proof of at least 10 years of operation |
| Gross Written Premium | Evidence of GWP for recent financial years |
| Solvency Ratio | Minimum of 1.5 as per IRDAI norms |
| Certification | Valid DSC issued by a licensed Certifying Authority |
Sequential process:
- Submit documentary evidence for each criterion.
- Ensure all documents are signed, stamped, and up-to-date.
- Comply with technical standards specified in the tender.
Technical compliance is mandatory for qualification, and failure to meet specifications may result in disqualification.
Financial Requirements
The estimated budget for this insurance renewal ranges between INR 50 million to INR 150 million, depending on coverage specifics. The financial proposal must include:
| Cost Component | Details |
|---|---|
| Premium Cost | As per the submitted price bid |
| Service Charges | Included in the bid as applicable |
| Taxes | As per applicable laws |
Payment terms are aligned with policy issuance milestones and claim settlements. Bidders must submit detailed cost breakdowns in the prescribed formats (PDF and XLS). The successful bidder will be awarded based on competitive pricing combined with technical compliance, ensuring value for money and comprehensive coverage for GIGL.
All financial proposals should be valid for 45 days from the bid submission deadline.
Additional Tender Data
Commercial Details
Bid To RA
No
Item Category
Oil/Gas/Lubricants
Authority & Contact
Officer Inviting Bids
AGM PROCUREMENT, GSPL INDIA GASNET LIMITED, GANDHINAGAR
Bid Opening Authority
AGM PROCUREMENT, GSPL INDIA GASNET LIMITED, GANDHINAGAR
Address
GSPL Bhavan, North Wing, Plot No. E – 18, GIDC Electronics Estate, Nr. K-7 Circle, Sector – 26 Gandhinagar - 382028 Gujarat, India
Contact Details
[email protected]/07923268712
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Documents 9
GIGL RFQ 2026.pdf
TENDER_DOCUMENT
Instructions to Bidders 2026.pdf
TENDER_DOCUMENT
Pipeline route map.jpg
MAIN
Price Bid_RFQ I.XLSX
BOQ
Price Bid_RFQ II .xlsx
BOQ
Price Bid_RFQ III.XLSX
BOQ
Replies to pre bid queries.pdf
TENDER_DOCUMENT
Annexure 1 Claim details.pdf
TENDER_DOCUMENT
EEP MBD Details.xlsx
BOQ
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Eligibility Criteria
- ✓ Must have a valid Digital Signature Certificate (DSC) as per the Information Technology Act-2000 (Class-III).
- ✓ Must demonstrate minimum 10 years of operational experience in the Indian insurance market.
- ✓ Must submit documentary evidence of:
| - Conducting business in India.
| - Gross Written Premium (GWP) for the last three financial years.
| - Solvency ratio of at least 1.5. - ✓ No deviation certificate from the bidder.
- ✓ Must submit signed and stamped complete bid documents.
- ✓ Must meet all technical and financial criteria specified in the tender documents.
| Qualification Requirements | Details |
|---|---|
| Financial Stability | Minimum GWP as specified in tender |
| Operational Experience | Minimum 10 years in India |
| Technical Capacity | Evidence of insurance expertise and claim handling |
| Legal Compliance | Valid DSC and no legal violations |
Bidders must meet all eligibility criteria to qualify for technical and commercial evaluation.
Bidding Process
Process Timeline
1. PRIMARY STAGE
27-11-2025 17:30
2. TECHNICAL STAGE
27-11-2025 17:35
3. COMMERCIAL STAGE
27-11-2025 17:40
Required Forms
PRIMARY
e-Auction User Details
User Defined Template-Standard
TECHNICAL
TECHNICAL SUBMISSION
User Defined Template-Standard
COMMERCIAL
SCHEDULE OF RATES
User Defined Template-Standard
Required Documents
Stage - PRIMARY STAGE
1
Attach e-Auction User Details
RequiredStage - TECHNICAL STAGE
1
BQC-Bidder to submit documentary evidence for conducting business in India as per BQC
Required 2
BQC-Bidder to submit documentary evidence for operated in India for a minimum of 10 years as per BQC
Required 3
BQC-Bidder to submit documentary evidence for Gross Written Premium (GWP) as per BQC
Required 4
BQC-Bidder to submit documentary evidence for Solvency ratio of 1.5 as per BQC
Required 5
No Deviation Certificate
Required 6
Signed and Stamped Complete bid document
Required 7
Any other documents
Stage - COMMERCIAL STAGE
1
SIGN AND STAMP COPY of SOR Price Bid of RFQ I IN FORM OF PDF AND XLS AS PER TENDER
Required 2
SIGN AND STAMP COPY of SOR Price Bid of RFQ II IN FORM OF PDF AND XLS AS PER TENDER
Required 3
SIGN AND STAMP COPY of SOR Price Bid of RFQ III IN FORM OF PDF AND XLS AS PER TENDER
RequiredFrequently Asked Questions
Key insights about GUJARAT tender market
What is the deadline for bid submission?
The bid submission deadline is 26th November 2025 at 5:00 PM. Bidders must ensure all documents are uploaded and submitted before this time to be considered.
What documents are required for technical evaluation?
Bidders must submit documentary evidence for:
- Business operations in India for at least 10 years
- Gross Written Premium (GWP) for recent financial years
- Solvency ratio of at least 1.5
- Valid Digital Signature Certificate (DSC)
- No deviation certificate and signed bid documents.
How is the selection process conducted?
The process involves three stages: primary (e-Auction User Details), technical evaluation (document submission), and commercial evaluation (price bids). Each stage has specific deadlines, and the final award is based on combined technical and financial scores.
Who can participate in this tender?
Licensed insurance companies with minimum 10 years of operation in India, proven financial stability, and relevant technical expertise are eligible. All participants must possess a valid Digital Signature Certificate and meet the eligibility criteria outlined in the tender documents.
Where can I download the tender documents?
Tender documents are available for free download from the official portal at:
Ensure to review all documents thoroughly before submitting your bid.
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Documents 9
GIGL RFQ 2026.pdf
TENDER_DOCUMENT
Instructions to Bidders 2026.pdf
TENDER_DOCUMENT
Pipeline route map.jpg
MAIN
Price Bid_RFQ I.XLSX
BOQ
Price Bid_RFQ II .xlsx
BOQ
Price Bid_RFQ III.XLSX
BOQ
Replies to pre bid queries.pdf
TENDER_DOCUMENT
Annexure 1 Claim details.pdf
TENDER_DOCUMENT
EEP MBD Details.xlsx
BOQ