Provision of Life Insurance Services for IGNITE-National Technology Fund Islamabad

The IGNITE-National Technology Fund based in Islamabad Capital Territory is procuring Life Insurance Services specifically tailored for its employees. This procurement is for the financial year 2026-27 and involves the provision of group life insurance coverage for all IGNITE employees with coverage categories ranging from PKR 2,000,000 to PKR 6,000,000 depending on employee grade. The insurance period is one year, extendable annually based on satisfactory performance and mutual consent. The scope includes worldwide coverage, claims settlement within 15 working days, and annuity payments for disability cases. The insurer must bear any medical examination costs and provide pay continuity for permanent injury or death for three years. Eligible bidders must be registered companies with valid FBR and SECP registrations, active tax payer status, and must meet the technical and financial evaluation criteria including experience with at least 15 policies of premium PKR 15 million or more, and a strong client base. The procurement follows a Quality and Cost Based Selection (QCBS) method with a technical bid passing threshold of 70%. Bids must be submitted online via EPADS v2.0 by 11:00 AM on July 20, 2026, with bid opening at 11:30 AM the same day. The bid security must be submitted as a pay order and the performance guarantee is 10% of the contract price. A practical tip for bidders is to ensure timely registration on EPADS v2.0 and to carefully prepare the technical bid addressing all eligibility and evaluation criteria to avoid disqualification. Also, submit the original bid security before the deadline to remain eligible. The submission address for bid security is Plot # 7, Mauve Area, 3rd Floor, Telecom Foundation Complex, Islamabad. This tender offers a significant opportunity for insurance providers with proven experience and financial strength to partner with a federal technology fund.