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Published 13 Feb 2026, 14:12 GMT

Official UK procurement notice

Research on the use of AI and other disruptive technologies in actuarial work

Official notice

Authority: THE FINANCIAL REPORTING COUNCIL LIMITED (Central government)

ServicesBelow threshold - open competitionBelow threshold
Sectors: Research & Development (R&D) (73) Delivery: UK
Published estimate£80,000£96,000 inc. VAT0.6% below published estimate
Submissions closed 23 Mar 2026awarded 21 Apr 2026
Awarded to City St Georges University of London
Contract term 8 moends 4 Dec 2026 · up to 31 Dec 2026 with extensions · starts 13 Apr 2026

What is being bought

Published requirement description

THIS IS A CONTRACT AWARD NOTICE

The Financial Reporting Council (FRC) commissioned research into the use of AI and other disruptive technologies in actuarial work.

CPV: Research and development services and related consultancy services

The lotProcurement structure

single lot · value published
Lot #1AwardedRenewal 8 moPublished value£80,000
Contract period: 13 Apr 2026 – 4 Dec 2026 (8 mo) · up to 31 Dec 2026 with extensionsValue: £80,000 exc. VAT · £96,000 inc. VAT
Delivery: UK
Extensions: • Additional research services of the same nature. · • The right to additional purchases while the contract is valid. • To allow for any pause research activities that may impact the timelines.
73000000 Research and development services and related consultancy services

What it takes to win
i

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 more
How bids were scored

Lot awarding rule: Quality and Price. See ITT.

Procedure terms & legal framework

From the official record
Procedure method
Below threshold - open competition
Legal basis
UKPGA · 2023/54 Procurement Act 2023
Procurement category
Services
Notice status
Awarded
Procurement threshold
Below threshold
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
13 Feb 2026, 14:12 GMT
Last source update
20 May 2026, 16:30 BST
Authority reference
FRC2025-168
FTS notice number
2026/S 000-013466
Latest notice
Contract details notice (UK7)
Classification (CPV)
Research and development services and related consultancy services
Delivery area
UK
Official registry OCID
ocds-h6vhtk-06540a Find a Tender

How it was run

Official notice
Submission deadline
23 Mar 2026, 12:00 GMT
Clarification deadline
3 Mar 2026, 12:00 GMT
Electronic submission
Not allowed
Detailed submission instructions & authority contactsFrom official release

By email to [email protected]

Timeline

13 Feb 2026 → 20 May 2026 · 5 dates
  1. Tender notice published254 days ago
    13 Feb 2026, 14:12 GMT
  2. Clarification questions by236 days ago
    3 Mar 2026, 12:00 GMT
  3. Submission deadline216 days ago
    23 Mar 2026, 12:00 GMT
  4. Contract starts195 days ago
    13 Apr 2026, 00:00 BST
  5. Latest notice published158 days ago
    20 May 2026, 16:30 BST

Notice history

3 events · 2 releases on Find a Tender · since 13 Feb 2026
  1. Tender notice published
    13 Feb 2026, 14:12 GMT
    UK4
  2. Contract details notice published
    20 May 2026, 16:30 BST
    UK7
  3. Status changed to complete
    20 May 2026, 16:30 BST

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast
Awards 1
Awarded value £79,5511 contract exc. VAT
Contracts signed 1latest 21 Apr 2026
Awarded toValueDateStatus
City St Georges University of London£79,551 †—Awarded

Contracts

  • Research on the use of AI and other disruptive technologies in actuarial work · City St Georges University of London

    Signed
    21 Apr 2026
    Value
    £79,551
    Period
    27 Apr 2026 – 21 Dec 2026 · up to 30 Apr 2027 with extensions
    Status
    active
    Extensions
    up to 4 (four) months extension possible
    Options
    Additional research services of the same nature.

Contracting authority & participating public bodies

THE FINANCIAL REPORTING COUNCIL LIMITED

Contracting authorityPublic authority - central government GB-COH: 02486368 · GB-PPON: PLRG-2717-VPBY 13th Floor, Exchange Tower, 1 Harbour Exchange Square, London, London, E14 9GEContact name, email, phone

Bidders & participating suppliers

1 commercial party on the notice

Official documents & specifications (4)

Official links; attachments are not copied

Tender pack and attachments

Notices published for this procedure

  • Contract details notice contractContract details noticeUK7Contract details notice on Find a Tender
  • Tender notice tenderTender noticeUK4Tender notice on Find a Tender