Objectives

The primary objective of this tender is to appoint a qualified insurance broker to provide comprehensive insurance and risk management services to Productivity SA for a period of 36 months. The goal is to secure appropriate short-term insurance cover, manage insurance portfolios effectively, and ensure compliance with relevant legislation, thereby supporting Productivity SA’s mandate to improve productive capacity and socio-economic development.

Scope

The scope includes:

• Provision of risk management and short-term insurance brokerage services across all Productivity SA sites in Gauteng, Western Cape, and KwaZulu-Natal.
• Placement, maintenance, administration, and claims management of various insurance policies, including:
• General assets and motor vehicle insurance
• Broadform liability
• Corporate travel insurance for employees and dependents
• Directors and Officers liability
• Fidelity, computer crime, and professional indemnity insurance
• Employment practice liability
• Funeral cover for employees and dependents
• Cyber insurance
• Advisory services on risk exposure and insurance cost reduction strategies.
• Presentation of at least three proposals for insurance placement and ongoing management.

Technical Requirements

The technical requirements specify that the insurance broker must:

• Offer policies with comprehensive coverage as outlined, including asset, liability, travel, director’s liability, fidelity, cyber, and employment practices.
• Advise on risk exposure and recommend appropriate cover levels and excess amounts.
• Present at least three proposals for placement, with detailed strategies and value-added benefits.
• Ensure policies are underwritten by reputable insurers and that claims are logged, tracked, and reported via an online system.
• Provide a detailed service level agreement (SLA) with performance timeframes and obligations.
• Maintain compliance with all relevant legislation, including the Public Finance Management Act (PFMA), Broad-Based Black Economic Empowerment Act (B-BBEEA), and the Protection of Personal Information Act (POPIA).

Skills Requirements

The skills and expertise required from the successful bidder include:

• Extensive experience in short-term insurance brokerage, preferably with a track record of managing similar portfolios for public entities or large organizations.
• Demonstrated ability to advise on risk management, insurance placement, and claims management.
• Qualified personnel with relevant industry certifications and a minimum of 10 years’ experience in insurance and risk management.
• Capability to develop innovative risk mitigation strategies and cost-effective insurance solutions.
• Strong understanding of South African insurance legislation, regulations, and compliance requirements.
• Proficiency in using online claims management systems and reporting tools.
• Ability to present proposals, conduct negotiations, and provide ongoing advisory support.