Request for Bid (RFB) for Selection of a Life Insurance Company for Providing Term Life Insurance Coverage to Indian Seafarers under the Seafarers Welfare Fund Society (SWFS)
Directorate General of Maritime Administration (DGMA) · Mumbai, Maharashtra · Other · open
Key facts
- EMD: ₹1.0L
- Published: 17 Aug 2026
- Closing date: 26 Oct 2026
- Status: open
- Status as of: 20 Oct 2026 23:25 UTC
- Ministry: Ministry of Ports, Shipping and Waterways
- Department: Directorate General of Maritime Administration
- Office: Seafarers Welfare Fund Society (SWFS)
Description
Selection of an IRDAI-registered life insurance company to provide group term life insurance coverage to eligible Indian seafarers under SWFS. The insurer will provide policy administration, enrolment, premium administration, claims processing and settlement, digital services, customer support, and reporting. Bids are evaluated using QCBS.
Eligibility & requirements
- Past performance: 95%
- Startup relaxation: No
- MSE relaxation: No
- Certifications: Valid IRDAI licence to undertake life insurance business
- Documents required: Certificate of Incorporation, IRDAI Licence, PAN Certificate, GST Registration Certificate, Declaration by Authorized Signatory confirming not insolvent, bankrupt, under liquidation or receivership, Declaration in prescribed format confirming not blacklisted, debarred or declared ineligible, Conflict of Interest Declaration in prescribed format, IRDAI Registration Certificate, IRDAI Annual Reports or a certificate from the Statutory Auditor/Company Secretary supporting the average Individual Death Claims Settlement Ratio, Latest Audited Financial Statements or Statutory Auditor certificate confirming Solvency Ratio, Client Certificate, Work Order, Policy Schedule or Completion Certificate indicating number of lives covered, Self-certification and documentary evidence of online enrolment, policy servicing, grievance redressal and claims management systems, Bid Submission Letter, Insurance Company Particulars, Technical Evaluation Data Sheet, Implementation & Customer Support Details, Financial Bid in prescribed BOQ format, EMD Bank Guarantee or prescribed exemption declaration and supporting documents, as applicable
New to these terms? Read how tender eligibility criteria work.
Commercial terms
- Bid type: Two-Bid System (Technical & Financial)
- Evaluation: Quality and Cost Based Selection (QCBS); technical and financial scores weighted 60:40
- Make in India (MII): No
- MSE preference: No
Line items (1)
- Term life insurance coverage for eligible Indian seafarers under SWFS
2 tender document(s) available — sign up to download.
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