Official UK procurement notice
Insurance Brokerage Services · UK public procurement notice
Authority: National Wealth Fund Limited (Public body)
What is being bought
Published requirement descriptionThe National Wealth Fund (“the Fund”) currently provides Life Assurance and Income protection as benefits to all its employees, with the Fund putting in place group policies for both benefits via an insurance broker contract.
The Fund is looking to put in place a new contract for Insurance Brokerage Services to award and manage the placement of future Group Income protection and Group Life Assurance Insurance policies on its behalf.
These policies will need to be placed in a manner that is compliant with the Procurement Act 2023 (PA23). It is anticipated that these new group policies will be put in place with a guaranteed rate of 2-3 years (to be agreed with the successful supplier).
Following the award of these policies the successful supplier will be required to manage any claims on behalf of the Fund on an annual basis, advise on any market changes that may impact the Fund's policies and make recommendations on whether to keep existing policies or undertake a new PA23 compliant market assessment to put in place new policies.
CONTRACTING AUTHORITIES THAT MAY USE THIS CONTRACT:
National Wealth Fund Limited
British Business Bank PLC
British Business Bank (BBB) may also look utilise the brokerage services under the awarded contract as a service recipient to put in place future insurance requirements in a PA23 compliant manner.
They currently have the insurance policies below, however please note this is shared for awareness only and Suppliers are not expected or required to be able to act as a Broker for all of these:
- Employers liability insurance
- Professional Indemnity
- Cyber
- Travel
- Life
- Private medical
- Credit risk
The total contract value declared in this notice takes into account the possibility of BBB utilising this contract, and should not be as a commitment or guarantee of the level of spend under any subsequent contract.
CPV: Insurance brokerage services
The lotProcurement structure
single lot · value publishedLot #1RenewalPublished value£300,000
- Economic & financial standing
Please see the conditions of participation in Appendix 6 – Procurement Specific Questionnaire included within the Invitation To Tender document.
What it takes to wini
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Evaluation split and conditions of participation as published; the tender pack may add morei
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Published sub-criteria (2)
- Technical: 70%
- Commercial: 30%
Published award criteria (2)
- Technical: Quality will be assessed based on the Appendix 7 Technical Response - Award Criteria and Appendix 5 Tender Assessment Methodology. Questions and weightings are as follows: 1) Core Service Delivery - Renewals Process - 25% 2) Core Service Delivery - Compliance with Procurement Act 2023 (PA23) - 15% 3) Supplier Special Terms - 5% 4) Core Service Delivery - Claims Management - 5% 5) Service Flexibility / Added Value - Wider Capabilities - 5% 6) Market Knowledge and Innovation - 5% 7) Social Value - 10%. Additionally suppliers will be asked to complete appendix 12 - Non-Functional Requirements, confirming whether they meet, partially meet or don't meet each Non-Functional Requirement. This will have no weighting but be evaluated on a Pass/Fail basis.
- Commercial: Suppliers are asked to complete Appendix 8 - Pricing template, providing a fixed price for the initial PA23 compliant market reviews for the Funds Insurance requirements, the subsequent award and the Annual fee for the management claims handling which arise under the policies. Pricing for optional additional services, and for the compliant placement off additional policies are also sought. Full details of the commercial assessment are available in Appendix 5 – Insurance Brokerage Services - Tender Assessment Methodology and Appendix 8 - Pricing Template.
- Economic & financial standing
Please see the conditions of participation in Appendix 6 – Procurement Specific Questionnaire included within the Invitation To Tender document.
- Price carries 30 of 100 points: a 10% discount moves about 3 points. The method statement decides this lot, not the discount.
- Turnover usually expected at this size: about £163,682 (twice the annual value).
Price arithmetic assumes straight proportional scoring; the tender pack may use another formula. Turnover is an indicative market norm (≈2× annual value), not a published condition.
Competition analysis · published record, not a forecast of who will bid
How National Wealth Fund Limited buys Insurance services (CPV 6651), and who usually turns up
National Wealth Fund Limited’s own published record, next to the published market for the same work. Frameworks and DPS are kept out: they attract a different number of bids. Whole-market view: Insurance services (CPV 6651) →
How the contest usually goes
Winner shares use published awards; bid and price charts use contested lots.
i
How often small and medium firms win.
Share of awards where the winner’s size is known.
The counts under this question show how many awards have a known supplier size.
Small firms have won here. Neither number says whether you qualify; it describes who has been winning.
i
How often local firms win similar work.
Winners with a registered address in the delivery region, out of awards with a known address.
Here, local means registered in Yorkshire and the Humber (authority’s region).
A local branch does not count if the registered address is elsewhere.
Most of this buyer’s recorded winners are registered outside Yorkshire and the Humber.
i
How long buyers here take to decide after bids close.
Middle value in days from the deadline to the first award notice, on competitions that published both dates.
Only decided tenders count, so slow ones still waiting are not in.
Half of these awards were announced within 86 days of the bid deadline.
i
How often work is awarded with no recorded rival.
Direct awards and tenders where every published lot count shows one bid.
Both shares are minimums: some awards have no bid count.
Thin markets produce this too; it is not proof of a tailored specification.
Direct awards or one recorded bid are common here. Check the route before spending time on a bid.
How many bids did past lots attract?
i
How many bids past lots received.
Each colour is a bid-count range. Only competed lots with a published count are included.
Past bids do not predict this tender.
1 bid15%
2–342%
4–642%
7+0%
How did awards compare with estimates?
i
Where winning prices landed against estimates.
Each colour shows awards below, close to or above the published estimate, one lot at a time.
Past prices are a guide, not a bid price.
Below estimate75%
Within ±2%13%
Above estimate13%
Assess each lot i
What past awards tell you about each lot.
See the forecast, this buyer’s earlier suppliers and firms with relevant wins.
No supplier is confirmed as a bidder.
i
What past awards tell you about each lot.
See the forecast, this buyer’s earlier suppliers and firms with relevant wins.
No supplier is confirmed as a bidder.
Open a lot for its forecast, this buyer’s previous supplier and possible competitors, from published award history, not a bid list
Lot #1CPV 6651Published estimate£300k
i
How many bids this lot may attract.
The forecast uses similar past competitions. The bar shows either that forecast or past bid counts; the line below says which.
Each lot shows its own forecast based on its own category; forecasts for different lots of the same notice are not comparative.
A forecast, not a list of bidders.
1 bid16%
2–353%
4–629%
7+2%
i
Where the award price may land.
The forecast uses similar awards and the buyer’s estimate. The band covers the middle half of likely prices.
Based on 3 comparable awards. Each lot reflects its own category; forecasts for different lots of the same notice are not comparative.
A statistical guide from past awards, not a price to bid.
Middle 50%£225k–£300k
Estimate£300k
Who has supplied this buyer on similar work? i
Who has done similar work for this buyer.
Past contracts are matched by buyer, title and type of work.
A past supplier may not bid again.
i
Who has done similar work for this buyer.
Past contracts are matched by buyer, title and type of work.
A past supplier may not bid again.
No earlier contract of this buyer matches this lot on the published record.
Who could compete for this lot? i
Who could compete for this lot?
Firms with relevant past wins. On a framework, we show firms on that agreement.
None is confirmed as a bidder.
i
Who could compete for this lot?
Firms with relevant past wins. On a framework, we show firms on that agreement.
None is confirmed as a bidder.
| Supplier | Won in this category | Live contracts | Award vs estimate |
|---|---|---|---|
KPMGLarge | £574m147 awards in 36m · last 1 months ago | 38 live · £99m iPublic contracts this supplier still holds. Its awards whose published end date is still in the future, with their values. Many contracts publish no end date, so this is a floor, not the whole book. Unexpired says nothing about spare capacity. | at estimate n=23 |
Ernst and Young LLPLarge | £168m74 awards in 36m · last this month | 15 live · £25m iPublic contracts this supplier still holds. Its awards whose published end date is still in the future, with their values. Many contracts publish no end date, so this is a floor, not the whole book. Unexpired says nothing about spare capacity. | 8% below n=11 |
| £76m118 awards in 36m · last this month | 54 live · £96m iPublic contracts this supplier still holds. Its awards whose published end date is still in the future, with their values. Many contracts publish no end date, so this is a floor, not the whole book. Unexpired says nothing about spare capacity. | 3% below n=34 | |
GRANT THORNTONLarge | £26m8 awards in 36m · last 2 months ago | 2 live · £845k iPublic contracts this supplier still holds. Its awards whose published end date is still in the future, with their values. Many contracts publish no end date, so this is a floor, not the whole book. Unexpired says nothing about spare capacity. | at estimate n=1 |
Hymans RobertsonLarge | £7.5m14 awards in 36m · last this month | 8 live · £4.5m iPublic contracts this supplier still holds. Its awards whose published end date is still in the future, with their values. Many contracts publish no end date, so this is a floor, not the whole book. Unexpired says nothing about spare capacity. | 45% below n=1 |
About this data
- Source. Official UK public procurement notices (Find a Tender), reused under the Open Government Licence v3.0. New notices arrive through the day; the figures are rebuilt nightly.
- Two views, kept apart. The authority’s own track record and the wider market for the same kind of work sit side by side and are never mixed. Where the local picture is too thin, a figure widens to a broader market and says which one it used.
- Forecasts are labelled. The price forecast and its range, possible competitors and the earlier-work matches are our estimates from past awards: not published facts, not win chances and not price advice. Official notices do not say who is bidding.
- Every figure shows what it rests on. Not every notice publishes a bid count, a value or a delivery region, so each figure carries the number of records behind it, and one built on few records is marked as such. The on a figure explains it; the counting rules are in the methodology. Spotted something wrong? Tell us.
Procedure terms & legal framework
From the official record- Procedure method
- Open procedure
- Legal basis
- UKPGA · 2023/54 Procurement Act 2023
- Procurement category
- Services
- Notice status
- Open for tender
- Procurement threshold
- Above threshold (FTS publication)
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Unspecified in notice
- Recurring procurement
- Unspecified in notice
- First published
- 3 Jun 2026, 13:56 BST
- Last source update
- 15 Oct 2026, 09:43 BST
- Award evaluation window
- Submission end – 11 Dec 2026
- Authority reference
C1374- FTS notice number
2026/S 000-097277- Latest notice
- Tender notice (UK4)
- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-06ac80Find a Tender- Contract terms summary
Payment terms will be in accordance with the published procurement documents
How to participate & submission route
Official notice Submit via Atamis (Health Family)- Requests to participate (first stage)
- —
- Tender submission deadline
- 12 Nov 2026, 12:00 GMT
- Clarification deadline
- 26 Oct 2026, 12:00 GMT
- Submission channel
- Official e-sourcing portal
- Electronic submission
- Allowed
- Accepted languages
- en
This opportunity will go live on Thursday 15th October 2027.
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ATAMIS GUIDANCE
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The tender documents provided are as follows, with associated appendixes:-
- Invitation to Tender
- Appendix 1 - Glossary
- Appendix 2 - Rules of Procurement
- Appendix 3 - Specification
- Appendix 4 - Contract
- Appendix 5 - Tender Assessment Methodology
- Appendix 6 - Procurement Specific Questionnaire
- Appendix 7 - Technical Envelope Response, Award Questionnaire
- Appendix 8 - Commercial Envelope Response, Pricing Template
- Appendix 9 - Confidential & Commercially Sensitive Information
- Appendix 10 - Form of Tender
- Appendix 11 - Tender Response Checklist
- Appendix 12 – Non-Functional Requirements
Please note that, as part of your response to Appendix 6: Procurement Specific Questionnaire, your organisation must be registered on the Central Digital Platform (CDP) and hold an active account containing complete, accurate, and up to date organisational information. You will be required to generate a Share Code for sharing with NWF and to download your supplier information file for onward submission to NWF. If you are unfamiliar with the CDP, please refer to the guidance here: www.gov.uk/government/publicati… ↗
Timeline
3 Jun 2026 → 1 Feb 2027 · 8 dates- Planning notice published139 days ago3 Jun 2026, 13:56 BST
- Market engagement60 days ago21 Aug 2026, 23:59 BST
The National Wealth Fund (“NWF”), successor to the UK Infrastructure Bank, has been established to drive the nation's growth by creating a stable investment environment and mobilising private capital to align with the UK Government's strategic priorities. As NWF we will support a wider range of sectors beyond infrastructure, aligning with the Government's industrial strategy. NWF have a total capital of £27.8 billion, with at least £5.8 billion dedicated to green hydrogen, carbon capture, ports, gigafactories, and green steel. This aligns with the principle of achieving policy objectives via sound banking.
Our private sector function will provide corporate and project finance and invest across the capital structure, including senior debt, mezzanine, guarantees and equity. Our local authority function will lend to local authorities at a preferential rate for high value and strategic projects of at least £5 million.
Why We Are Engaging:
NWF is undertaking a Request for Information (RFI) to the market, and may subsequently hold 1-2-1 discussions with respondents, ahead of a future procurement for Insurance brokerage services. The service would need to be capable of awarding insurance policies on behalf of the Fund in a manner compliant with the PA2023.
The aim of the engagement is to understand the markets interest in the opportunity, define its requirements and timelines for a subsequent competition to award a contract.
Responses and any 1-2-1’s will also be used to determine how brokers can compliantly place policies in line with PA2023 and whether the Fund will need to undertake any further work to facilitate placing these compliantly following a Procurement for a Broker.
Any dates or values provided as part of this notice are estimates only and are subject to change depending on wider approvals and feedback to the early market engagement.
How to respond:
NWF intends to conduct Early Market Engagement ("EME") with the market through this notice with a view to sharing information and seeking input from the market to inform and shape our procurement plans and approach from w/c 8th June 2026
Interested suppliers are invited to submit a written response addressing the questions set out in Schedule 2 of the RFI document.
Responses must be submitted via the eSourcing Portal (Atamis) by 12:00 noon on Tuesday 30th June 2026.
Clarification questions should be submitted by 12:00 noon on Friday 17th June 2026, with responses issued via a clarifications log.
Should the Fund choose to carry out 1-2-1’s with respondents these will take place by mid-August 2026. Respondents can indicate whether they are open to a follow up meeting to discuss feedback they provide as part of their RFI response.
Please note that due to time and resource constraints, it may not be possible for NWF to meet with all interested suppliers. In the event that the level of supplier interest in our market engagement activities exceeds our capacity to accommodate individual meetings, we reserve the right to schedule meetings on a first come, first served basis or with a representative sample of those who have submitted requests. NWF takes the view that this will constitute a fair mechanism to ensure that a range of suppliers within the market are represented (e.g., by similar solutions or responses). To ensure transparency and equal treatment, all relevant information shared by NWF with suppliers during these meetings will also be made available to the wider market at a later date.
Please note that participation in this engagement will not confer any advantage or preference in relation to any future procurement process.
Further information will be able to be found in the documents in Atamis.
To access, please register on Atamis, available on the following link: atamis-3929.my.site.com/s/Welcome ↗ and search for the opportunity “C1314 - Insurance Brokerage Services - Request for Information”.
Atamis guidance:
To access user guidance that shows how to access opportunities, create and submit bids and to send clarification requests through the message centre, please click here:
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and
- Next notice expected49 days ago1 Sept 2026, 23:59 BST
- Tender notice published5 days ago15 Oct 2026, 09:24 BST
- Today20 Oct 2026
- Clarification questions byin 6 days26 Oct 2026, 12:00 GMT
- Submission deadlinein 23 days12 Nov 2026, 12:00 GMT
- Award decision expected byin 52 days11 Dec 2026, 23:59 GMT
- Contract startsin 103 days1 Feb 2027
Notice history
7 events · 3 releases on Find a Tender · since 3 Jun 2026- Preliminary market engagement notice published3 Jun 2026, 13:56 BSTUK2
- Tender notice published15 Oct 2026, 09:24 BSTUK4
- Published value updated to £300,00015 Oct 2026, 09:24 BSTwas £100,000
- Status changed to active15 Oct 2026, 09:24 BST
- Procurement method changed15 Oct 2026, 09:24 BST
- Deadline published: 12 Nov 2026, 12:00 GMT15 Oct 2026, 09:24 BST
- Tender notice published15 Oct 2026, 09:43 BSTUK4
Published amendments (1)
Updated link to Atamis.
Commercial outcome & contract awards
Nothing awarded yet- Awards (0)
- No award published
- Contracts (0)
- No contract published
- Bid statistics
- No aggregate bid statistics published
Contracting authority & participating public bodies
Official documents & specifications (3)
Official links; attachments are not copiedNotices published for this procedure
- Tender notice Tender notice on Find a Tender
- Tender notice Tender notice on Find a Tender
- Preliminary market engagement notice Preliminary market engagement notice on Find a Tender