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Independent Internal Model Validation Services

Buyer: Floor Re →

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BuyerFloor Re
StatusClosed
Deadline6 Jun 2022
ValueValue not published
Published5 May 2022

What is being bought

Flood Re requires the provision of independent validation services for the next phase of PIM development and validation. The scope and structure of the PIM developed in the early stages of IMAP, with the current scope of the model having been settled since 2017. Flood Re’s Risk Team have been supported by third parties for a number of these validation exercises, and this Procurement seeks to select a 3rd party partner for [at least] the next four years of Independent Validation activity

Delivery location

UKI4

Categories

Reinsurance services 66700000Financial and insurance services 66000000

Lot details

Lot 1

Flood Re requires the provision of independent validation services for the next phase of PIM development and validation. The scope and structure of the PIM developed in the early stages of IMAP, with the current scope of the model having been settled since 2017. Flood Re’s Risk Team have been supported by third parties for a number of these validation exercises, and this Procurement seeks to select a 3rd party partner for [at least] the next four years of Independent Validation activity

Statusactive

Award criteria
Quality — 65
Social Value — 10
price — 25

What is included

ItemCategoryQuantity
1Reinsurance servicesNot published

Comparable-procurement analytics

Benchmarked against retained Find a Tender procedures with CPV division 66. The category anchor is Reinsurance services (66700000); this is a deliberately broad market comparator. The comparison is shown at several levels rather than pretending one company or region is always the best benchmark.

Comparison setProceduresReported bids per procedureNamed award suppliersPrice evidence
Market: CPV division 662,7583 median · 17.2 average (1,185 of 2,758 with a bid count)2.5 average (1,317 of 2,758 with named award suppliers)Not published
Same buyer0Not publishedNot publishedNot published
Delivery region: UKI472 median · 1.7 average (3 of 7 with a bid count)1 average (4 of 7 with named award suppliers)Not published

“Reported bids” is an official aggregate, sometimes reported per lot; it is the closest available competition measure. “Named award suppliers” are winners, not all applicants.

Price-outcome signal

Not enough comparable procedures currently publish both a GBP tender value and a usable lowest-valid-bid value to calculate a responsible price-reduction benchmark. Tenderline deliberately does not infer a saving from named award suppliers or from missing award values.

Procurement strategy & market signals

Framework agreementNot published
Dynamic purchasing systemNot published
Competitive procurementNot published
Recurring requirementNo
Procurement method rationaleNot published
Rationale classificationsNot published
Special regimeNot published
Covered byGPA
Submission policyNot published
Selection criteriaNot published
Risk detailsNot published

Planning & early market engagement

BudgetNot published
No-engagement rationaleNot published
Planning documents0
Planning milestones0

No planning milestones published.

Related procurements

No linked framework, prior procurement or reprocurement published.

Documents & submission route

  • economicSelectionCriteria
  • technicalSelectionCriteria

Source data inventory

Diagnostic view. “Not published” means this current release does not provide a value.

OCIDocds-h6vhtk-03343e
Latest release ID011681-2022
Latest release timestampThu May 05 2022 11:13:44 GMT+0000 (Coordinated Universal Time)
Sourcefind-a-tender
Official notice URLNot published
Tender statusactive
Procurement methodopen
Procurement method detailsOpen procedure
Main procurement categoryservices
Above thresholdNot published
Legal basis32014L0024
Tender period: startNot published
Tender period: end2022-06-06T12:00:00+01:00
Expression of interest deadlineNot published
Enquiry deadlineNot published
Award period: start2022-06-06T12:00:00+01:00
Award period: endNot published
Submission method detailshttps://procurementsolutions.esourcingportal.com
Submission languagesen
Electronic catalogue policyNot published
Total tender valueNot published
Tender lots in source1
Tender items in source1
Tender documents in source2
Awards in latest release0
Contracts in latest release0
Parties in latest release2

Notice history

DateEventReference
5 May 2022tender011681-2022

All source data

Unmodified official OCDS data retained by Tenderline for this procurement process.

Complete current OCDS release JSON
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Complete JSON history (1 releases)
5 May 2022 · 011681-2022 · tender
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