Objectives

The primary objective of this tender is to appoint an experienced insurance broker to manage the insurance portfolio of Gert Sibande District Municipality (GSDM) for the period from 1 July 2026 to 30 June 2029. The broker will provide comprehensive services related to placement, maintenance, and administration of the municipality’s insurance assets, ensuring effective risk management and compliance with relevant policies and regulations.

Scope

The scope of work includes:

• Placement, maintenance, and administration of the municipality’s insurance portfolio.
• Development of an annual service plan detailing actions aligned with the insurance placement and claims management programs.
• Conducting internal and external discussions to set renewal and maintenance strategies.
• Reviewing existing cover, uninsured risks, and exposure levels.
• Re-broking and market exercise to obtain renewal terms.
• Pre-renewal meetings and presentation of renewal options.
• Confirmation of placement and coverage, including credit ratings and premium allocations.
• Compilation of insurance manuals, claims procedures, and policy documentation.
• Ad hoc adjustments, endorsements, and claims support.
• Monitoring premium payments and providing training where necessary.

Technical Requirements

The technical requirements specify that the broker must:

• Develop and implement an annual service and maintenance plan.
• Engage in discussions to establish renewal strategies and review existing insurance cover.
• Obtain renewal quotations and market exercise for renewal terms.
• Provide detailed insurance manuals, claims procedures, and legal compliance verification.
• Monitor and manage claims, endorsements, and policy adjustments.
• Ensure statutory and regulatory compliance, including statutory statutory obligations and statutory insurance requirements.
• Provide ad hoc training and support on policies and procedures.

Skills and Experience Requirements

The bidder must demonstrate:

• Registration and accreditation with the Financial Services Board (FSB) or equivalent regulatory body, with a maximum of 30 points allocated for accreditation.
• Handled at least five insurance portfolios exceeding R500 million in value for a minimum of three years, with a minimum score of 30 points.
• Qualified Claims Manager with at least 10 years of commercial claims experience, or 7-9 years for 10 points, or less than 7 years for 0 points.
• Proven experience in insurance placement, claims management, and risk assessment.
• Capacity to provide detailed reports, manuals, and support documentation.
• Ability to conduct internal and external discussions, market exercises, and renewal negotiations effectively.

Overall, bidders must score at least 70 points out of 100 in the evaluation to qualify for further consideration.