FSCS is the United Kingdom’s statutory fund of last resort for customers of financial services firms and this market sounding is specific to general insurance, FSCS may pay compensation where it is satisfied that an eligible claimant has a protected indemnity claim against an authorised insurer who is in default.
In the event of an insurer failure, primary responsibility for claims handling rests with the court appointed Insolvency Practitioner. Often the period required to resolve the failed insurer’s insurance liabilities extends beyond the conclusion of any insolvency proceedings, at which point the Insolvency Practitioner is no longer appointed. This is particularly the case with ‘long-tail’ liabilities. In these circumstances, FSCS takes on responsibility for managing the claims run-off.
Long-tail liabilities commonly reference chronic industrial diseases and illnesses (e.g., noise induced hearing loss, asbestosis, and mesothelioma) caused by an employee’s exposure to a hazardous working environment. Industrial disease and illness claims are technically complex to manage and present significant service, reputational and financial risks for FSCS should errors occur in the claims handling process.
FSCS currently manages claims for a number of closed insurance estates. Due to the presence of asbestos related claims these insurance estates are expected to continue in run-off for the next c.20 years (based on data published by the Institute and Faculty of Actuaries, UK Asbestos Working Party update, September 2019).
There is also the potential for FSCS to directly manage the run-off of other claims types including complex structural building defect claims and 3rd party motor injury claims.
For more information about this opportunity, please visit the Delta eSourcing portal at:
https://www.delta-esourcing.com/tenders/UK-title/VYBUYWV847
To respond to this opportunity, please click here:
https://www.delta-esourcing.com/respond/VYBUYWV847
FSCS Website Search Function Request For Information (RFI)
FSCS is looking for options for a new Website Search provider.
FSCS consumer facing website currently has an internal search engine to help users to find what they are looking for. A site search is a tool that allows users to search for specific content within a website or application.
For more information about this opportunity, please visit the Delta eSourcing portal at:
https://www.delta-esourcing.com/tenders/UK-UK-London:-Maintenance-and-repair-of-information-technology-equipment./7FAS53EGTT
To respond to this opportunity, please click here:
https://www.delta-esourcing.com/respond/7FAS53EGTT
FSCS is seeking to procure a new outsourced hybrid outsourced Security Operations Centre, providing UK-based 24/7 Managed Detection and Response (MDR), Digital Forensics and Incident Response (DFIR) and Cyber Threat Intelligence (CTI) capabilities.
The supplier will need to integrate with our existing SIEM and EDR/XDR capabilities as well as our IT ticketing system.
To help our understanding of the market, FSCS would like interested suppliers to complete it's RFI document, which can be found in Delta eSourcing.
For more information about this opportunity, please visit the Delta eSourcing portal at:
https://www.delta-esourcing.com/tenders/UK-UK-London:-Information-technology-services./QKCTBE8MVM
To respond to this opportunity, please click here:
https://www.delta-esourcing.com/respond/QKCTBE8MVM
FSCS is seeking to procure a new outsourced hybrid outsourced Security Operations Centre, providing 24/7 Managed Detection and Response (MDR), Digital Forensics and Incident Response (DFIR) and Cyber Threat Intelligence (CTI) capabilities.
The supplier will need to integrate with our existing SIEM and EDR/XDR capabilities as well as our IT ticketing system.
To help our understanding of the market, FSCS would like interested suppliers to complete it's Request for Information document, which can be found in Delta eSourcing.
To view this notice, please click here:
https://www.delta-esourcing.com/delta/viewNotice.html?noticeId=990473027
FSCS is seeking information in relation to procuring a Cloud Solutions Provider (CSP) with Cloud Operations Support for Azure tenants. FSCS is seeking to procure a partner to provide all Azure subscription services under a CSP agreement and provide Cloud Operations Support to augment the internal team. Ahead of the procurement, FSCS would like to understand market insights and have drafted a number of questions within our preliminary market engagement document which can be obtained within Delta.
For more information about this opportunity, please visit the Delta eSourcing portal at:
https://www.delta-esourcing.com/tenders/UK-UK-London:-Software-package-and-information-systems./P692379SWU
To respond to this opportunity, please click here:
https://www.delta-esourcing.com/respond/P692379SWU
The Financial Services Compensation Scheme (FSCS) is conducting preliminary market engagement in connection with a proposed contract for Employee Benefits Services.
FSCS is the UK's statutory compensation scheme for customers of failed authorised financial services firms. FSCS is subject to the Procurement Act 2023.
FSCS is seeking a contract for Employee Benefits Services, including undertaking a review of the range, extent and structure of their benefit package programme to employees.
This notice does not constitute a call for competition or a commitment to run a competitive procurement. No contractual relationship will arise from participation in this market engagement exercise. FSCS reserves the right to modify its requirements, draft Contract, or procurement approach in light of the responses received.
To view FSCS draft contract notice and specification, please click here:
https://www.delta-esourcing.com/tenders/UK-UK-London:-Benefit-services./MDHC633774
FSCS would like to engage the market to understand the current offer in delivery of Human Resources Information Systems (HRIS) and Associated Services.
In considering our future Claims Handling operating environment and the services we are seeking, we have explored a range of options that will allow us to perform our statutory function, while working with one or more service providers to help us deliver an outstanding customer experience. Our preferred approach is one that allows us to retain design and ownership of the processes and technology, with a partner or partners delivering agreed operational outcomes. We are interested to hear from potential service providers on how they might deliver some or all parts of our end-to-end claims handling process - from initial customer contact and application, through data gathering from product providers representatives and customers to process claims, to issuing a decision and processing any post-decision correspondence.
FSCS would like to engage the market to identify those consultancies who have experience and capacity to assist FSCS to respond to enquires in respect of the availability of FSCS protection for a range of long term insurance products.
FSCS would like to engage the market to identify those who have the experience and capability to provide Specialist Life and Pension claims/complaint handling resource. The information within the RFI document provides information on FSCS and our current review of our operating environment, which understanding current market capabilities will feed into.
****This is Request for Information***** FSCS is looking to undertake a review of the range, extent and structure of their benefit package programme to employees. FSCS currently offers a wide range of core and voluntary employee benefits which are reviewed annually and externally benchmarked. We feel that some benefits are so important that we offer them as part of our core benefit package. The rest of our benefits are voluntary and are split into three categories: My Savings; My Health and Wellbeing and my Leisure and Lifestyle. Our high-level requirements reflect the challenges that we are aiming to address with the new contract and are detailed in the RFI document which can be accessed via FSCS tendering portal Delta-esourcing. We would like to understand the current offer on the market for Employee Benefits Provision and Associated Services to inform our options analysis before tendering the requirement.
FSCS is seeking to create a ‘Specialist Services’ framework to provide quick access to specialist expertise and support on an as-needed basis, with services including, but not limited to, specialist technical knowledge and advice, operationalising new rules, and resource augmentation – including in emerging and new areas of work not currently covered by FSCS. FSCS is undertaking an RFI to receive feedback and information from the market for provision of the services sought that will assist FSCS in its options analysis. The objectives for FSCS are to: •Gauge interest from the market to an FSCS framework •Understand market capability across the areas identified as being within scope. •Understand the expectations on FSCS in respect of ongoing engagement during the framework term.
FSCS would like to engage the market to understand the current offer in delivery of Human Resources Information Systems (HRIS) and Associated Services.
FSCS is planning to go to market to procure two master vendor arrangements – one responsible for our Claims Handler roles (both permanent and contractors) and one which would be responsible for the recruitment of all other vacancies (permanent and contractors). FSCS are open to procuring one master vendor who can fully meet the requirements of all vacancies at FSCS, across the broad range of skillsets required and at all levels and pay grades. FSCS already has a specialist recruitment framework for executive and non-executive roles. The new master vendor framework will be in addition to this arrangement and will therefore not include executive and non-executive roles. The services will include supporting a FSCS’s People Team to attract, recruit and retain candidates with the right blend of skills, qualifications, experience, knowledge, and attitude into the right roles and in the right place to deliver on the Scheme’s strategy. The services must include the smooth transition from our existing master vendor arrangement. It is proposed that procurement documents will be published beginning of November 2024, with a new contract commencement date from July 2025. FSCS are planning a pre-market engagement event w/c 07th September ahead of issuing the contract notice within a few weeks soon after. If you would be interested in attending, please e-mail Jean.Mutudza@fscs.org.uk. During this event we hope to share with the market our current thinking for the new contract in terms of a new, fit for purpose recruitment model for the future. We will cover the scope of services and provide historical context and drivers for the new model. It is an opportunity for the market to challenge FSCS’s thinking and for FSCS to gather invaluable insights to shape the final tender documentation. The event will include a Question and Answer section, however attendees can also respond to questions via the portal after the event. The deadline for suppliers who may want to respond to questions posed by FSCS during the event via the portal will be 14th October 2024 @ 12pm. FSCS will share summary outputs of the event with prospective tenderers when the formal procurement documents are published.