Hiring Services for Operation and Management of Bancassurance Business of State Life Insurance Corporation

This tender invites competent firms to operate and manage the Bancassurance business operations of State Life Insurance Corporation in Karachi, Sindh. The department requires a third-party administrator (TPA) to provide comprehensive services including IT system management, marketing support, customer contact center operations, and policy administration for Bancassurance and Banca Takaful products. The contract spans three years with fixed rates and includes system configuration, data backup, reporting, and 24/7 call center support. The scope covers software application ownership, system configuration for multiple insurance products, operational services such as underwriting, policy issuance, renewals, claims processing, and commission management. The TPA must maintain high availability infrastructure with disaster recovery, ensure compliance with SECP and State Bank regulations, and provide detailed reporting and reconciliation. The work is based in Karachi with coordination between State Life and partner banks. Bidders must be registered with Income Tax and Sales Tax departments, hold valid PPRA registration for e-procurement, and submit a bid bond of PKR 2 million. The tender requires technical and financial proposals submitted separately via the EPADS system. Firms should have relevant PEC categories, FBR/ATL compliance, and meet 2025-26 regulatory requirements. The bid validity is 180 days, and the contract includes performance guarantees. The submission deadline is on the 3rd of March 2026 at 11:00 am, with technical bids opening at 11:30 am at the Central Procurement Division, 10th Floor, State Life Building No. 11, Abdullah Haroon Road, Karachi. Interested firms should ensure timely submission through the EPADS portal and prepare for a rigorous technical evaluation. Pro-Tip: Carefully review the tender document for detailed bank guarantee and bid bond requirements, and ensure all declarations and integrity packs are duly signed and stamped to avoid disqualification.