Tender Notice for Cyber Insurance Services - Coverages; Optional; Annually in KOLKATA, WEST BENGAL
Bid Publish Date
21-Jan-2025, 12:13 pm
Bid End Date
17-Feb-2025, 4:00 pm
Value
₹2,45,00,000
Location
Progress
Uco Bank invites bids for Cyber Insurance Services - Coverages; Optional; Annually in KOLKATA, WEST BENGAL. Quantity: 1. Submission Deadline: 17-02-2025 16: 00: 00. Submit your proposal before the deadline.
Technical Results
| S.No | Seller | Date | Status |
|---|---|---|---|
| 1 | NATIONAL INSURANCE COMPANY LIMITED Under PMA | 17-02-2025 14:04:32 | |
| 2 | THE NEW INDIA ASSURANCE COMPANY LIMITED Under PMA | 17-02-2025 14:04:25 | |
| 3 | THE ORIENTAL INSURANCE COMPANY LIMITED Under PMA | 17-02-2025 14:30:30 | |
| 4 | UNITED INDIA INSURANCE COMPANY LIMITED Under PMA | 17-02-2025 13:47:56 |
Financial Results
| Rank | Seller | Price | Item |
|---|---|---|---|
| L1 | NATIONAL INSURANCE COMPANY LIMITED Under PMA | Item Categories : Cyber Insurance Services - Coverages; Optional; Annually | |
| L2 | THE NEW INDIA ASSURANCE COMPANY LIMITED Under PMA | Item Categories : Cyber Insurance Services - Coverages; Optional; Annually | |
| L3 | THE ORIENTAL INSURANCE COMPANY LIMITED Under PMA | Item Categories : Cyber Insurance Services - Coverages; Optional; Annually | |
| L4 | UNITED INDIA INSURANCE COMPANY LIMITED Under PMA | Item Categories : Cyber Insurance Services - Coverages; Optional; Annually |
Tender Data
Bid Details
Quantity
1
Bid Type
Two Packet Bid
Bid Validity
90 (Days)
Bid Type
Service
Evaluation
Total value wise evaluation
Tech Clarification Time
3 Days
Requirements
Arbitration Clause
No
Mediation Clause
No
Additional Tender Data
Commercial Details
Tender Category
Service
Bid To RA
No
Bid To RA Enabled
No
Item Category
Cyber Insurance Services - Coverages; Optional; Annually
Authority Records
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Documents 3
GeM-Bidding-7399253.pdf
Main Document
Buyer uploaded ATC document
ATC
GEM General Terms and Conditions Document
GEM_GENERAL_TERMS_AND_CONDITIONS
Corrigendum Updates
1 Update Update
Required Documents
Experience Criteria
Certificate (Requested in ATC)
Additional Doc 1 (Requested in ATC)
Additional Doc 2 (Requested in ATC)
Additional Doc 3 (Requested in ATC)
Additional Doc 4 (Requested in ATC) *In case any bidder is seeking exemption from Experience / Turnover Criteria
the supporting documents to prove his eligibility for exemption must be uploaded for evaluation by the buyer
Frequently Asked Questions
Key insights about WEST BENGAL tender market
What are the eligibility requirements for GEM/2025/B/5840238?
The eligibility requirements include being a registered entity capable of providing cyber insurance services. Bidders must have a valid license to operate and must demonstrate prior experience in the provision of similar insurance products. Additionally, potential bidders are required to confirm compliance with local and national regulations and submit financial statements for the past three years to establish financial stability.
What certificates are required for participation in the tender?
Participants need to submit various certificates including their registration certificate, tax compliance certificates, and any necessary insurance service certifications. Providing a copy of ISO certificates relating to quality management or cybersecurity frameworks can also strengthen a bid in the eyes of the Department of Financial Services during the evaluation process.
What is the submission process for tender documentation?
Bidders must submit all documents electronically via the GEM portal. The required submissions must be in PDF format to ensure clarity and readability. Submissions should include a comprehensive bid submission form, technical proposals, and relevant company profiles that align with cyber insurance services.
What are the financial requirements stipulated in the tender?
Financial requirements for this tender include a detailed pricing structure for the proposed services, supported by audited financial statements showing the bidder’s solvency. Proposals must provide a clear breakdown of premium costs and coverage levels, helping the Department of Financial Services assess the financial viability of each submission during the evaluation phase.
What benefits are extended to Micro, Small, and Medium Enterprises (MSEs) under this tender?
The tender offers provisions favoring Micro, Small, and Medium Enterprises (MSEs) which include simplified procurement processes, priority in evaluation, and opportunities to collaborate with larger entities. The initiative aims to promote local businesses and comply with 'Make in India' policies, fostering local content engagement within the cyber insurance services landscape.