Services of Health and Life Insurance Policies at NIBAF-P Islamabad

The National Institute of Banking and Finance Pakistan (Facility Management Division) invites bids for the provision of Non-Consultancy Services for Health and Life Insurance Policies at NIBAF-P Islamabad. This procurement is planned for the financial year 2026-27 under reference number P142836. The procurement will be conducted through the e-Pak Acquisition and Disposal System (EPADS) v2.0 using a Single Stage One Envelope procedure with Quality and Cost Based Selection (QCBS) technique as per Public Procurement Rules, 2026. Items being procured: - Services of Health Insurance Policies covering employees, spouses, and children with detailed hospitalization, maternity, outpatient, and specialized investigation benefits - Services of Life Insurance Policies including basic life cover, accidental death benefit, permanent total and partial disability, natural disability, and temporary total disability The health insurance covers hospitalization limits ranging from Rs. 300,000 to Rs. 700,000 per insured, maternity benefits including normal and cesarean deliveries, outpatient reimbursement benefits, and specialized investigations. Life insurance covers group life limits from Rs. 800,000 to Rs. 2,000,000 with coverage for various disabilities and death benefits. Eligibility criteria include active tax registration, valid business license for health and life insurance services, minimum credit rating of AA++ by PACRA or VIS for last 3 years, active membership of Insurance Association of Pakistan, minimum 10 years experience with contracts of Rs. 10 million annually, no blacklisting or debarment, minimum 10 doctors on payroll for case management, and minimum annual sales volume of Rs. 70 million for last 3 years. Bids must be submitted online through EPADS v2.0 by 11:00 AM on Friday, November 20, 2026. Manual submissions will not be accepted. Bid security of Rs. 200,000 in favor of National Institute of Banking and Finance Pakistan is required. Technical bids will be evaluated on criteria including years of experience, number of panel hospitals, corporate clients, doctors on payroll, and in-house approval center. Financial bids will be evaluated based on the lowest quoted premium. The contract duration is one year starting March 1, 2027, extendable up to two years subject to mutual consent and satisfactory performance. Payment will be made bi-annually in Pakistani Rupees against invoices after verification. Performance guarantee of 3% of contract price is required. Bidders are advised to carefully review the detailed terms, conditions, and specifications available on EPADS and the procuring agency's website. A pre-bid meeting will be held on November 10, 2026 at 11:00 AM at NIBAF Pakistan office Karachi. Clarifications can be sought through EPADS up to November 17, 2026. This tender offers a significant opportunity for qualified insurance providers to supply comprehensive health and life insurance services to a prestigious national institute in Islamabad. Bidders should ensure compliance with all eligibility and submission requirements to avoid disqualification. One practical tip: Register early on EPADS v2.0 and submit bids well before the deadline to avoid last-minute technical issues and ensure your bid is considered.