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Tender Details
Description / Scope of Work
State Life Insurance Corporation of Pakistan invites sealed bids for hiring the services of a competent firm to operate and manage its bancassurance business operations. The tender reference number is PO/CPD/BANCA/24/2026 and the bidding process commenced in July 2026. This comprehensive outsourcing engagement covers the complete management and operational delivery of bancassurance services, positioning the selected firm as a third-party administrator responsible for day-to-day bancassurance operations, customer management, claims processing, and business development activities under State Life's bancassurance strategic framework across Pakistan.
Eligible bidders must be competent firms with demonstrated experience in insurance operations management, bancassurance business, and third-party administration services. Bidders are required to submit mandatory documentation including client reference forms citing previous similar engagements, bank guarantees as specified in the tender document, and declarations on oath confirming compliance with regulatory requirements and absence of disqualifying factors. The bid security requirements and performance guarantees must be submitted as per the terms outlined in section 16 of the tender document.
Bidders should obtain the complete tender document from State Life Insurance Corporation of Pakistan and submit sealed bids containing both technical and financial proposals by the deadline specified. Bids will be opened publicly following the submission deadline, with evaluation conducted on a technical-cum-financial basis as detailed in section 3 of the tender document. The contract will be awarded to the responsive bidder offering the best combination of technical competence and financial value. For tender enquiries, clarifications, and bid submission procedures, bidders must contact State Life Insurance Corporation of Pakistan directly with reference to tender number PO/CPD/BANCA/24/2026.