Objectives

The primary objective is to procure a comprehensive business insurance and risk evaluation service for SANAS. The engagement aims to identify optimal coverage, assess financial and operational risks, and ensure regulatory compliance. Additionally, the appointed service provider will draft technical specifications for a subsequent business insurance tender, enabling informed procurement while safeguarding against conflicts of interest.

Scope

The scope covers a single, once-off contract delivering a detailed assessment report structured around ten core deliverables:

• Coverage Assessment: Identifying required insurance types based on organizational risks.
• Risk Assessment: Mapping potential exposures including property damage, liability, and income loss.
• Policy Analysis: Reviewing existing policies for alignment, limits, exclusions, and endorsements.
• Cost Analysis: Evaluating premium costs against coverage value for cost-effectiveness.
• Claims History: Analyzing past claims to forecast future risk adequacy.
• Regulatory Compliance: Verifying adherence to industry-specific legal and insurance mandates.
• Market Comparison: Benchmarking policies and pricing across multiple providers.
• Business Continuity: Integrating insurance into broader risk management and continuity strategies.
• Changing Needs: Adapting coverage to reflect growth, new products, or market expansions.
• Expert Consultation: Engaging specialists to tailor solutions to specific business requirements.

Expected delivery is scheduled for October 2026.

Technical Requirements

• Hold a valid Financial Services Provider (FSP) authorization issued by the Financial Sector Conduct Authority (FSCA) in compliance with the FAIS Act.
• Submit completed Standard Bid Documents (SBD 4 for bidder disclosure and SBD 6.1 for preference claims).
• Provide proof of tax compliance, Central Supplier Database (CSD) registration, and a valid Broad-Based Black Economic Empowerment (B-BBEE) certificate or sworn affidavit.
• Complete Annexure A pricing schedule with firm, VAT-inclusive quotes.
• Adhere to strict submission deadlines; late or incomplete bids will be disqualified.
• Evaluation follows an 80/20 preference point system: 80 points for price, 20 points for specific socio-economic goals.

Skills Requirements

• Advanced expertise in corporate risk management, insurance product structuring, and actuarial/cost analysis.
• Proficiency in interpreting policy wording, exclusions, limits, and historical claims data.
• Strong knowledge of South African insurance legislation, regulatory frameworks, and business continuity standards.
• Ability to conduct comparative market research and synthesize findings into actionable recommendations.
• Competency in drafting clear, compliant, and unbiased tender specifications for future procurement cycles.

Key Terms & Conditions

The tender incorporates specialized procurement mechanisms requiring brief clarification:

• FAIS Act: The Financial Advisory and Intermediary Services Act regulates financial advisers and intermediaries in South Africa to ensure market integrity, professional conduct, and consumer protection.
• 80/20 Preference Point System: A public procurement evaluation method where 80% of scoring is based on price competitiveness, and 20% is allocated to socio-economic transformation goals, including ownership by black individuals, women, youth, persons with disabilities, and recognition of exempt micro-enterprises (EMEs) and qualifying small enterprises (QSEs).
• SBD Forms: Standardized government procurement documents used for supplier disclosure, compliance verification, and claiming preferential procurement points.
• Conflict-of-Interest Restriction: The consulting firm awarded this evaluation contract is explicitly barred from bidding on the subsequent insurance tender whose specifications they authored, ensuring fairness and preventing self-dealing in public procurement.