Andhra Pradesh Grameena Bank Group Personal Accident Insurance Tender 2026 Andhra Pradesh - ACCIDENT INSURANCE ISO/IS 550 2026

Tender Overview

Andhra Pradesh Grameena Bank seeks a Group Personal Accident Insurance Service for Permanent Employees in Andhra Pradesh. The estimated contract value is ₹2,500,000. The scope covers accidental death, permanent total disability, permanent partial disability, and temporary disabilities as per the RFP. A notable clause allows contract quantity or duration modifications up to 25%, even after issue, requiring bidders to accept revised terms. The procurement targets reliable insurance service providers familiar with government bidding processes, with ATC documentation referenced. The absence of BOQ items suggests a uniform insurance coverage rather than itemized deliverables. This tender aligns with AP Grameena Bank’s risk management for employee welfare and statutory compliance under RRB guidelines.

Technical Specifications & Requirements

• Product/Service: Group Personal Accident Insurance for Permanent Employees
• Coverage types: Accidental death, Permanent total disability (PTD), Permanent partial disability (PPD), Temporary disabilities as defined by the RFP
• Estimated value: ₹2,500,000
• Location/Entity: Andhra Pradesh Grameena Bank, Regional Rural Banks framework
• Tender flexibility: Quantity or duration can be increased up to 25% at contract issue and post-issue; bidders must accept revised scope
• Documentation noted: ATC document uploaded; BOQ shows 0 items indicating a single policy/cover rather than line items
• Standards/Compliance: Not explicitly specified; bidders should reference standard insurance policy terms and RBI/RRB guidelines for group schemes

Terms, Conditions & Eligibility

• EMD: Not specified in available data
• Delivery/implementation: Insurance coverage to be effective across designated permanent employees; no delivery schedule shown
• Payment terms: Not disclosed in provided data; expect standard insurer payment upon policy issuance and renewal
• Documentation: ATC document referenced; expect submission of company registration, GST, PAN, prior claim experience, and financial stability per bid norms
• Change control: Up to 25% adjustment in quantity/duration; acceptance of revised terms mandatory
• BOQ/Technical specifics: BOQ items = 0, implying a bundled group insurance policy rather than itemized components
• Warranty/AMC: Not specified; typical insurance contracts rely on policy terms rather than warranty