Objectives

The primary objective of this tender is to appoint a qualified Service Provider to deliver Short Term Insurance services to Elias Motsoaledi Local Municipality for a period of 3 years (36 months). The appointed intermediary will be responsible for providing comprehensive insurance coverage across various asset classes, managing claims, and supporting risk mitigation strategies, with performance reviews conducted annually.

Scope

The scope encompasses:

• Provision of short-term insurance cover for assets including buildings, office contents, electronic equipment, motor fleet, and other specified classes.
• Management of insurance policies, endorsements, and claims processing.
• Support in risk management, risk control, and risk financing solutions.
• Participation in renewal negotiations and benchmarking of quotes.
• Implementation of claims management systems and reporting mechanisms.
• Adherence to contractual obligations over the 3-year period, with the possibility of contract extension.

Technical Requirements

The technical specifications include:

• Experience in municipal short-term insurance, with a minimum of 8 years in public sector insurance.
• Provision of a dedicated account manager with relevant qualifications (e.g., BCom Honours).
• Claims management system capable of generating reports, managing claims timelines, and providing management information on demand.
• Claims turnaround times and quality assurance aligned with ISO9001 standards.
• Proof of professional indemnity cover (minimum R100 million) and fidelity guarantee cover (minimum R100 million).
• Disclosure of insurers, reinsurers, and service providers supporting the insurance structure.
• Declaration of any litigation against public sector entities in the past 5 years.
• Implementation of an electronic claims handling system, with evidence of previous deployment.
• Compliance with minimum qualification and experience criteria, including proof of registration, financial stability, and relevant market experience.

Skills Requirements

The successful bidder must demonstrate:

• Extensive experience in municipal and public sector insurance portfolios.
• Capability to manage complex insurance and risk management structures.
• Proficiency in claims administration, reporting, and loss control measures.
• Ability to participate in renewal negotiations and benchmark quotes effectively.
• Knowledge of applicable insurance markets and experience with local authorities.
• Compliance with empowerment policies, employment equity, and social responsibility standards.
• Provision of qualified personnel, including a dedicated account manager and risk management administrator.
• Capacity to provide comprehensive claims handling, risk assessment, and reporting services.