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Tender Details
Description / Scope of Work
University of Engineering and Technology, Lahore invites proposals for the procurement of group life insurance services. This Request for Proposal (RFP) seeks qualified insurance providers to offer comprehensive group life insurance coverage for the university's employees and eligible dependents. The contract will be administered through the Treasurer's Office and is located in Punjab province. The procurement process is conducted through electronic bidding (e-bidding) to ensure transparency and competitive pricing for the institution's insurance requirements.
Eligible bidders must be registered insurance companies authorized to operate in Pakistan by the State Bank of Pakistan or relevant regulatory authority. Bidders are required to submit technical qualifications, financial credentials, and proof of valid insurance licenses. A bid security deposit is mandatory as specified in the tender documents, and bidders must demonstrate experience in administering group life insurance schemes. Preference may be given to providers with demonstrated track records in the education sector and institutional group insurance administration.
Bid documents are available from the Treasurer's Office, University of Engineering and Technology, Lahore, contactable at Ph: 042-99029233 or via website www.uet.edu.pk. Electronic bids must be submitted through the designated e-bidding portal by the closing deadline. Bid opening will occur on the specified date at the Treasurer's Office. Eligible bidders are encouraged to seek clarification on tender conditions before submission. Award of contract will follow evaluation of technical and financial proposals based on stated criteria, with contract duration and insurance coverage details provided in the formal agreement documentation.
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UET Lahore seeks group life insurance provider for employee and dependent coverage.
This is a competitive institutional procurement through structured e-bidding. The scope encompasses design, administration and claims management for a large employee pool at an established public university. Insurers should verify exact group size and benefit structure from the RFP documents. Contract duration and renewal terms are detailed in the formal agreement; premium rates are the primary competitive factor. This represents ongoing institutional coverage rather than a one-time placement.
Who can bid: Bidders must be licensed insurance companies authorized by State Bank of Pakistan to underwrite life insurance. Typically bidders require current operating license, proof of regulatory compliance, audited financial statements, and claims administration infrastructure. Experience in group schemes is expected. No specific restriction stated regarding company size or domicile, but State Bank registration is mandatory.