Tenders: plan ahead for best results

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When underwriters are very busy – especially from January to March – they need to focus their efforts on those new business opportunities that are most likely to be successful. They are also working under pressure and less likely to produce favourable quotes.

Therefore, to make sure that local authorities  can get as many quotes as they need – and that they are competitive – it is crucial to give underwriters enough time and information to quote for their business.
 
Underwriters will always look more favourably on clear, well presented and complete tender documents – especially during busy times or at short notice.

It is well worth authorities providing comprehensive tender documents because, where information is incomplete, underwriters will make assumptions and err on the side of caution by charging more and offering
less cover.

In terms of timescales, they need to be long enough for relevant parties to carry out a wide range of activities, including collating underwriting and claims information; dealing with queries and providing additional information; analysing tender responses; and doing surveys, to name but a few. Therefore, starting the process five or six months ahead of the date cover is due to start is advisable.

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For more advice on how we can help lower the cost of your risk, please email contact@rmpartners.co.uk

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