Insurance services

Tender description

The London Borough of Hillingdon (the Council) is seeking to appoint a sole supplier for the provision of its Tenants Contents Insurance Scheme. The proposed new contract will be for 3 years, from 1.4.2018 with the option to extend for a further 2 years beyond the initial contact term. The current contract expires on 31.3.2018. The Tenants Contents Scheme is an insurance product for Hillingdon's tenants who find themselves financially excluded from the mainstream home contents insurance market. Currently 812 tenants buy into the Tenants Contents Insurance Scheme, which is just under a 10 % take-up rate. The scheme is not intended to rival individual contents policies offered by mainstream insurance providers and unlike these standard contents insurance policies, the Tenants Contents Insurance Scheme has minimal entry criteria, to ensure the scheme is as inclusive as is reasonably possible. Value of this contract is estimated at 320 000 GBP based on the premiums over 5 years. The Tenants Contents Scheme is an insurance product for Hillingdon's tenants who find themselves financially excluded from the mainstream home contents insurance market. Currently 812 tenants buy into the Tenants Contents Insurance Scheme, which is just under a 10 % take-up rate. The scheme is not intended to rival individual contents policies offered by mainstream insurance providers and unlike these standard contents insurance policies, the Tenants Contents Insurance Scheme has minimal entry criteria, to ensure the scheme is as inclusive as is reasonably possible. The Tenants Contents Insurance Scheme has 2 significant features, tenants purchasing insurance through the Tenants Contents Scheme pay a weekly premium which is collected with the tenant's rent. Secondly, tenants the ability to purchase cover for smaller sums insured than mainstream policies, with sums insured.