Improved insurance cover and a saving of 46%
An on-site Tenet Procurement Consultant completed a successful tender for insurance and associated services which achieved a saving of 46% and improved policy cover for College y Cymoedd.
Coleg y Cymoedd (Wales’ “College of the Valleys”) required the provision of Insurance and Associated Services across all four of their campuses, due to the expiration of their existing contract.
Coleg y Cymoedd’s dedicated Tenet Procurement Consultant, along with Tenet’s Regional Procurement Manager for Wales, collaborated with the college to advise on the most effective route to market.
Tenet completed a tender process and worked with the college to break down the variety of proposed policies and premiums, creating a bespoke insurance service that met the college’s exact needs.
Tenet successfully appointed a contractor who specialises in providing insurance services to the education sector, and the proposed policies including terrorism and cyber security were agreed to meet the college’s requirements.
The college were able to demonstrate value for money through this tender process, with a cost saving of 46% which included improved policy cover.
The savings achieved for this tender outcome covered the cost of Tenet’s full fee, with a return of investment of 172%.
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A saving of 46% and improved policy cover was achieved for Colege y Cymoedd.
Jonathan Morgan, Vice Principal & Chief Operating Officer, Coleg y Cymoedd said:
“Despite the Covid-19 restrictions, Tenet supported us fully to complete a tendering process.Tenet were able to guide us throughout the tendering process and their expertise was extremely helpful when dealing with technical issues.”
Natasha Peets, Procurement Consultant at Tenet said:
Tenet were able to tailor the contract to the exact requirements of the college, and significant savings were achieved.”