Hiring of Third Party Administrator for Bancassurance Business Operations of State Life Insurance Corporation

The State Life Insurance Corporation of Pakistan, headquartered in Karachi, Sindh, is inviting bids for hiring a competent Third Party Administrator (TPA) to operate and manage its Bancassurance business operations for a contract period of three years. This procurement is aimed at firms capable of providing comprehensive administration and operational support for Bancassurance and Banca Takaful business, including IT system management and customer contact center services. Items being procured: - Complete execution of Bancassurance Business - Marketing facilitation and execution of Bancassurance operations - Provision and support of an up & running IT system including system capability, configuration, access, reporting, data backup, and security - Contact Centre Services with 24/7/365 call agent services, IVR with 90-day backup, after-sale confirmation calls, and outbound business calls - Marketing material preparation assistance - Application form and document supply management - System implementation and maintenance - Customer information handling and application form processing - Premium remittance follow-up and notices - Policy issuance, renewals, lapses, surrenders, claims processing, and other policyholder services - Commission processing and reconciliation - Reporting and MIS generation - Infrastructure hosting and disaster recovery site management The technical scope includes configuration and management of multiple insurance and takaful products, system integration with partner banks, and compliance with SECP and State Bank regulations. The TPA must provide a robust IT infrastructure with 99.9% uptime, backup and disaster recovery facilities, and secure hosting with redundant power and network connectivity. Eligibility criteria include proven experience in similar services, financial stability with average turnover benchmarks, availability of contact center infrastructure, and compliance with all regulatory and technical requirements. Firms must submit separate technical and financial proposals through the EPADS system, accompanied by a bid bond of Rs. 1.98 million. The bid validity period is 180 days. The submission deadline is **31st July 2026 23:59:59**. Bids must be submitted electronically via EPADS, with original bid bonds delivered to the Central Procurement Division in Karachi before the closing date. The evaluation will be based on technical responsiveness and financial competitiveness. A practical tip for bidders: Ensure your technical proposal clearly demonstrates your IT system capabilities and contact center readiness, as these are critical evaluation criteria. Also, timely submission of the original bid bond to the specified address is essential to avoid disqualification. This tender offers a significant opportunity for firms specializing in insurance administration and IT-enabled services to partner with Pakistan's largest life insurance corporation in expanding its Bancassurance footprint.