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AwardedFind a Tender · award

Insurance Pilot Study

Buyer: Defra Network eTendering Portal →

BuyerDefra Network eTendering Portal
StatusAwarded
DeadlineNot published
ValueValue not published
Published16 Dec 2022

What is being bought

The Green Finance Team at Environment Agency have secured funding to carry out a pilot study titled 'Monetising Insurance Benefits of Flood Alleviation Schemes' (the Study) to evaluate the insurance-related financial benefits of Flood Alleviation Schemes in England. The Environment Agency seeks to appoint a Consultant to carry out the Study. The Study will evaluate two flood schemes in England viz. Bridgwater Tidal Barrier and Banbury Flood Alleviation Scheme.

Delivery location

UK

Categories

Financial and insurance services 66000000Feasibility study, advisory service, analysis 71241000Financial consultancy services 66171000

Lot details

Lot 1

Services.

Statuscancelled

Award criteria
price

What is included

ItemCategoryQuantity
1Financial and insurance services, Feasibility study, advisory service, analysisNot published

Comparable-procurement analytics

Benchmarked against retained Find a Tender procedures with CPV division 66. The category anchor is Financial and insurance services (66000000); 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 (1,184 of 2,758 with a bid count)2.5 average (1,316 of 2,758 with named award suppliers)Not published
Same buyer612.5 median · 12.5 average (2 of 6 with a bid count)3 average (2 of 6 with named award suppliers)Not published
Delivery region: UK8935 median · 28.2 average (349 of 893 with a bid count)3.3 average (388 of 893 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 requirementNot published
Procurement method rationaleNot published
Rationale classificationsNot published
Special regimeNot published
Covered byNot published
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.

Awards

Contracts

035698-2022-1

Statusactive
Value£249,572

Documents & submission route

No documents are published in the current source record.

Source data inventory

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

OCIDocds-h6vhtk-02efbf
Latest release ID035698-2022
Latest release timestampFri Dec 16 2022 14:41:31 GMT+0000 (Coordinated Universal Time)
Sourcefind-a-tender
Official notice URLNot published
Tender statuscomplete
Procurement methodopen
Procurement method detailsOpen procedure
Main procurement categoryservices
Above thresholdNot published
Legal basis32014L0024
Tender period: startNot published
Tender period: endNot published
Expression of interest deadlineNot published
Enquiry deadlineNot published
Award period: startNot published
Award period: endNot published
Submission method detailsNot published
Submission languagesNot published
Electronic catalogue policyNot published
Total tender valueNot published
Tender lots in source1
Tender items in source1
Tender documents in source0
Awards in latest release1
Contracts in latest release1
Parties in latest release3

Notice history

DateEventReference
16 Dec 2022award, contract035698-2022
31 May 2022tender015221-2022
31 May 2022tender015164-2022
25 Oct 2021planning026706-2021

All source data

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

Complete current OCDS release JSON
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  "id": "035698-2022",
  "tag": [
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    "contract"
  ],
  "bids": {
    "statistics": [
      {
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        "value": 4,
        "measure": "bids",
        "relatedLot": "1"
      },
      {
        "id": "2",
        "value": 4,
        "measure": "electronicBids",
        "relatedLot": "1"
      }
    ]
  },
  "date": "2022-12-16T14:41:31Z",
  "ocid": "ocds-h6vhtk-02efbf",
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  },
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      "status": "active",
      "suppliers": [
        {
          "id": "GB-FTS-71173",
          "name": "McKinsey & Co Inc UK"
        }
      ],
      "relatedLots": [
        "1"
      ],
      "subcontracting": {
        "maximumPercentage": 0.32,
        "minimumPercentage": 0.32
      },
      "hasSubcontracting": true
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  ],
  "tender": {
    "id": "itt_10257",
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        "status": "cancelled",
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        "description": "Services.",
        "awardCriteria": {
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          ]
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    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UK"
          }
        ],
        "additionalClassifications": [
          {
            "id": "66000000",
            "scheme": "CPV",
            "description": "Financial and insurance services"
          },
          {
            "id": "71241000",
            "scheme": "CPV",
            "description": "Feasibility study, advisory service, analysis"
          }
        ]
      }
    ],
    "title": "Insurance Pilot Study",
    "status": "complete",
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "The Green Finance Team at Environment Agency have secured funding to carry out a pilot study titled 'Monetising Insurance Benefits of Flood Alleviation Schemes' (the Study) to evaluate the insurance-related financial benefits of Flood Alleviation Schemes in England.\nThe Environment Agency seeks to appoint a Consultant to carry out the Study.\nThe Study will evaluate two flood schemes in England viz. Bridgwater Tidal Barrier and Banbury Flood Alleviation Scheme.",
    "classification": {
      "id": "66171000",
      "scheme": "CPV",
      "description": "Financial consultancy services"
    },
    "procurementMethod": "open",
    "mainProcurementCategory": "services",
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  },
  "parties": [
    {
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      "roles": [
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      "address": {
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        "postalCode": "SW1P 3JR",
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      },
      "details": {
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    },
    {
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      "name": "McKinsey & Co Inc UK",
      "roles": [
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      "address": {
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        "postalCode": "WC1A 1PB",
        "countryName": "United Kingdom",
        "streetAddress": "McKinsey & Company, The Post Building, 100 Museum Street, London WC1A 1PB"
      },
      "details": {
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      "identifier": {
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    {
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      "name": "The Environment Agency",
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      "address": {
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      "identifier": {
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  ],
  "language": "en",
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      "dateSigned": "2022-08-08T00:00:00+01:00"
    }
  ],
  "initiationType": "tender"
}
Complete JSON history (4 releases)
16 Dec 2022 · 035698-2022 · award, contract
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  "tender": {
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31 May 2022 · 015221-2022 · tender
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    ],
    "title": "Insurance Pilot Study",
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    "tenderPeriod": {
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      },
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31 May 2022 · 015164-2022 · tender
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        "countryName": "United Kingdom",
        "streetAddress": "17 Nobel House"
      },
      "details": {
        "url": "https://defra.bravosolution.co.uk/web/login.html",
        "classifications": [
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        "legalName": "Defra Network eTendering Portal"
      },
      "contactPoint": {
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    },
    {
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        "legalName": "Environment Agency"
      }
    }
  ],
  "language": "en",
  "initiationType": "tender"
}
25 Oct 2021 · 026706-2021 · planning
{
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        "id": "1",
        "status": "planned",
        "description": "The Study involves developing evidence base to quantify the financial benefits with a view to develop risk-based approaches to creating new and innovative financial mechanisms and revenue streams. \nThe appointed Consultant will be expected to carry out the following tasks:\n- Use specialised Natural Catastrophe Modelling (NatCat Models), the baseline and post-intervention flood risk profile.\n- Use the modelling outputs to develop the technical premium price (pre and post-intervention) using specialised actuarial and underwriting expertise.\n- Calculate the financial value of value of reduction in flood risk exposure whilst incorporating the impact of future climate change into the analysis \n- Using the financial value thus calculated, identify beneficiaries and explore financial instruments and mechanisms to capture and monetize the benefits.\n- Using a project finance approach, the Consultant shall formulate financial model(s) to present the financial benefits of the capital investments including (but not limited to) financial parameters such as internal rate of return, net present value etc. \n- The Consultant shall help the Client to identify and engage with potential investors upon verification of the technical, economic and financial feasibility. \n- The Consultant shall provide knowledge and training to the Client for capacity building on technical, legal and policy matters required to implement the aforementioned financial mechanisms and revenue streams.\n\n          \nAssignment duration: 12 months Additional information: This PIN is to ascertain the market for the services set out and we would like to reserve the right to withdraw the PIN. The procurement is not guaranteed and we ask suppliers to contact us to register your interest in the PIN."
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UK"
          }
        ],
        "additionalClassifications": [
          {
            "id": "66000000",
            "scheme": "CPV",
            "description": "Financial and insurance services"
          },
          {
            "id": "71241000",
            "scheme": "CPV",
            "description": "Feasibility study, advisory service, analysis"
          }
        ]
      }
    ],
    "title": "EA Insurance Pilot Study",
    "status": "planned",
    "coveredBy": [
      "GPA"
    ],
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "The Green Finance Team at Environment Agency have secured funding to carry out a pilot study titled 'Monetising Insurance Benefits of Flood Alleviation Schemes' (the Study) to evaluate the insurance-related financial benefits of Flood Alleviation Schemes in England.\nThe Environment Agency seeks to appoint a Consultant to carry out the Study.\nThe Study will evaluate two flood schemes in England viz. Bridgwater Tidal Barrier and Leeds Flood Alleviation Scheme Phase 2.",
    "communication": {
      "atypicalToolUrl": "https://defra.bravosolution.co.uk/web/login.html",
      "futureNoticeDate": "2021-12-01T00:00:00Z"
    },
    "classification": {
      "id": "66171000",
      "scheme": "CPV",
      "description": "Financial consultancy services"
    },
    "mainProcurementCategory": "services"
  },
  "parties": [
    {
      "id": "GB-FTS-1944",
      "name": "Defra Network eTendering Portal",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UK",
        "locality": "London",
        "postalCode": "SW1P 3JR",
        "countryName": "United Kingdom",
        "streetAddress": "17 Nobel House"
      },
      "details": {
        "url": "https://www.gov.uk/government/organisations/environment-agency",
        "classifications": [
          {
            "id": "NATIONAL_AGENCY",
            "scheme": "TED_CA_TYPE",
            "description": "National or federal agency/office"
          },
          {
            "id": "05",
            "scheme": "COFOG",
            "description": "Environmental protection"
          }
        ]
      },
      "identifier": {
        "legalName": "Defra Network eTendering Portal"
      },
      "contactPoint": {
        "email": "pippa.hicks@environment-agency.gov.uk",
        "telephone": "+44 2072385921"
      }
    }
  ],
  "language": "en",
  "description": "The skills and expertise required to register an interest in this procurement: \nThe Consultant is expected to be a firm, or a group of firms, or a consortium of individuals, with preferably previous project experience related to:\n•\tNatural Catastrophe Modelling and insurance risk pricing (actuarial services);\n•\tTransaction advisory services for public infrastructure investment projects – including working with Governments and private investors.\nIn order to determine the capability and experience of Consultants to be shortlisted (should the procurement go ahead), the information requested at a later date (ITT) will require the following:\n•\tCompany/group of firms’ profile, organisation and staffing (max. 2-4 pages).\n•\tDetails of previous project experience or similar assignments particularly undertaken in the previous five years, including information on contract value, contracting entity/client, project location/country, duration (mm/yy to mm/yy), expert months provided (if different from duration) , main activities, objectives.\n•\tCVs of key experts who could carry out the Study whilst detailing qualifications, experience in similar assignments, particularly assignments undertaken in the previous five years, including information on contracting entity/client, project location/country, duration (mm/yy to mm/yy), expert months provided, assignment budget, main activities, objectives.",
  "initiationType": "tender"
}