Procurement Process | Insurance Alchemy | The Risk Factor
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Procurement Process

 

Decision-making with clarity and confidence

Do you feel certain your ITT is as strong as possible?

 

The Invitation to Tender, or ITT, provides the platform from which your procurement springs, and ultimately dictates the results you will see. It’s essential the documents and the research supporting them are compiled to produce the best possible outcome which truly reflects your organisation’s targets and ambition. Many insurers are unwilling to become involved in the procurement process, but our experts are here to further dispel any potential obstacles.

We know procurement is rooted in preparation, analysis, and evaluation. That’s why we help you to take control.

 

  • We’ll ensure you have access to your claims handling and data analysis; this is your data, it belongs to you. It places you in control of future negotiations
  • We’ll analyse every aspect of your organisation, from risks, required actions, objectives, capabilities and priorities, and provide initial advice and recommendations
  • We’ll design your tender specification using a weighted scoring matrix, with a clear focus on your priorities and sustainability, whilst adhering to all UK and EU legislation throughout
  • We’ll eliminate any possibility of conflicts of interest during the evaluation and bid process by maintaining a clear and concise strategic approach you can trust

 

We’ll take an active approach in encouraging those insurers not usually willing to participate in the procurement process. We’ll educate them on the process, how to undertake it, and the benefits that it offers. This generates more competition for your business, making a competitive, appropriate and well-fitting outcome more achievable. We’ll also assist with bid assessment to allow you to make informed decisions on your risk programme.

When the bids are scored, we’ll provide you with feedback and decision outcome reports, and expertly provide this to stakeholders and potential stakeholders to further enhance your sustainability and scope.

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