National Bank for Agriculture and Rural Development (NABARD)

Transcription

1 Group Motor Vehicle Insurance Policy (GMVIP) (on Cashless Claim Settlement basis only Pan India) of National Bank for Agriculture and Rural Development (NABARD) for the period from 01st August 2018 to 31st July 2019 Sealed tenders are invited by NABARD for the Insurance of Motor Vehicles belonging to it and also of the Bank s employees. The Bank has authorized Marsh India Insurance Brokers Pvt. Limited (Marsh) to solicit proposals through a two stage bidding process (comprising of Technical and Commercial bids) from IRDA licensed General Insurance Companies operating in India for Motor Vehicle Insurance on cashless basis at authorized garages. Bid made strictly as per provisions of the RFP document should be submitted latest by 05:00pm of Friday, 20th July 2018 at the address mentioned below: The Chief General Manager Human Resource Management Department Personnel Policy Division, 6 th Floor, D Wing NABARD Plot C-24, G Block, Bandra Kurla Complex, Bandra East, Mumbai Maharashtra

2 REQUEST FOR PROPOSAL Group Motor Vehicle Insurance Policy (GMVIP) of National Bank for Agriculture and Rural Development (NABARD) Head Office Plot C-24, G Block, Bandra Kurla Complex, Bandra East, Mumbai Maharashtra

3 This document is the property of National Bank for Agriculture and Rural Development (NABARD). It may not be copied, distributed or recorded on any medium, electronic or otherwise, without NABARD s written permission therefore. The use of the contents of this document, even by the authorized personnel / agencies for any purpose other than the specified herein, is strictly prohibited and shall amount to copyright violation and thus, shall be punishable under the Indian Law. DISCLAIMER This Request for Proposal (RFP) is not an offer by NABARD, but an invitation to receive response from eligible interested bidders for Group Motor Vehicle Insurance Policy (GMVIP) for the employees of NABARD. No contractual obligation whatsoever shall arise from the RFP process unless and until a formal contract is signed and executed by NABARD with the selected bidder. This document should be read in its entirety.

4 1 Introduction National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India having it s headquarter in Mumbai (Maharashtra) and Regional Offices all over the country. It also has 423 district offices across the country and employs about 4000 employees. The Bank has authorized Marsh India Insurance Brokers Pvt. Limited (Marsh) to solicit proposals through a two stage bidding process (comprising of Technical and Commercial Bids) from IRDA Licensed General Insurance companies operating in India for Motor Vehicle Insurance offered to insure its vehicles and those of its employees. Bidders are invited to submit their proposal in accordance with the enclosed Request for Proposal (RFP) terms. Complete confidentiality should be maintained. Information provided here should be used for its intended scope and purpose. Retention of this RFP signifies your agreement to treat the information as confidential. The Bidder(s) must agree to bear all costs related to the preparation of their proposal. Bid submission, queries and all other terms and conditions are detailed in the following sections of this document. All communication with regard to this proposal needs to be directed to Marsh India Insurance Broker s Pvt. Ltd. through to kirti.bansal@marsh.com and tejinderpal.singh@marsh.com with copy to jigar.parikh@marsh.com. Proposal Requirements:- The following sections include the information necessary for the bidder/its organization to respond to this RFP. The proposal must include: Policy placement and administration dated 01 st August 2018 to 31 st July 2019 Provide premium quotes in the requested format as stated Commercial Bid (Annexure 3) Answer all questions in following sections clearly and concisely. Proposal to be submitted in the form of sealed envelopes on or before 05:00pm of Friday 20 th July Failure to submit the proposal within the stipulated time will result in disqualification.

5 2 General Information The objective is to ensure that this Group Motor Vehicle Insurance Policy is managed at a high service level and in the most cost-effective manner. The Insurer must have the flexibility necessary to respond to NABARD s current and changing needs. NABARD s primary objective in conducting this RFP is to attract an Insurer/Insurers who: Match the desired plan design and contract provisions. Demonstrate the ability to deliver high quality services at a competitive price. This RFP provides the following information to enable the Bidder(s) to prepare and submit proposals to NABARD for consideration through Marsh India Insurance Brokers Pvt. Ltd.: Proposed Plan design Time Table Task Completion Date Invitation for Request for proposal(rfp) 13 th July 2018 Communicate Intent to Bid 16 th July 2018 Written queries regarding RFP to Marsh India Insurance Broker s Pvt. Ltd. 17 th July 2018 Marsh India s written response by to substantive questions 18 th July th July 2018 (Friday) Proposal Submission Due Date (by 05:00pm) 23 rd July 2018 (Monday) Date of Opening of Technical bid and Commercial Bid (10:30 am) Plan Effective Date 01 st August 2018 The bidder(s) or two of their authorized representatives at their discretion may remain at the time of opening of bids at the below mentioned address: NABARD, 4D, Conference Hall, C-24, G Block, Bandra Kurla Complex, Bandra East, Mumbai Response Format If you intend to respond to this proposal, please send a confirmation mail to Marsh India Insurance Brokers Pvt. Ltd. as per Time Table/schedule. If a bidder(s) decides to decline this RFP, NABARD requests written confirmation via , of the bidder(s) intent and reason(s) for declination

6 by 16 th July The bidder may send the to and with copy to The proposal must clearly indicate the name of the responding organization, as well as the name, address and telephone number of the primary contact at your organization for this proposal. The proposal must include minimum details for 2 contact name and number for local service and account management team that NABARD / Marsh can call directly for any service like-claims/ endorsements/ policy related. Please submit your proposal response in sealed envelope not later than Friday 20 th July 2018(05:00pm) to NABARD at the address mentioned on Page 1. No proposal will be accepted beyond the stipulated date and time. Questions concerning the RFP or its attachments can be directed to below employees of Marsh India:- Mr.TejinderPal Singh Malhotra/Ms.Kirti Bansal Tejinderpal.singh@marsh.com( ) Kirti.bansal@marsh.com( ) Marsh India Insurance Brokers Private Ltd , Tower 2, One India bulls Centre, Jupiter Mills Compound, Senapati Bapat Marg, Elphinstone Road, Mumbai No questions concerning the RFP are to be directed to NABARD and no answers will be provided over the phone. Please submit all questions in writing by to Marsh India as per the time table above. Marsh India will send a written response by to substantive questions as per the schedule in time table above. NABARD and Marsh India assume no responsibility or liability for any costs you may incur in responding to this RFP, including attending meetings, site visits; etc. Deviations from RFP Specifications It is intended that the Bidder(s) should conform to these specifications in full. Do not quote any alternative Plan Designs. Please quote the requested commercial arrangements only. Any deviation will make you liable to be disqualified. Your company will be bound to comply with the provisions set forth in this RFP.

7 3 Eligibility Criteria:- The following sections include the information necessary for the Bidder(s) to be eligible for the Technical and Commercial Bid and it is mandatory to conform to these specifications in full. Failure to meet even any one of the below criteria will disqualify the Bidder(s) from the further bidding process. Comprehensive Motor Policy to be provided for all vehicles including two wheelers up to 15 years of age. Cashless settlement of motor claims at authorized garages across India. Uniform Coverages/ Discounts/Rates/Deductibles to be allowed across all make models including two wheelers depending upon vehicle age. Add on covers- Road Side Assistance/ Depreciation/ Engine Secure and Consumables to be allowed on all motor 4 wheeler policies up to 7 years of age. (The Year of Manufacturing of the vehicle to be treated as Zero Year) Signing of the Service Level Agreement. Dedicated Toll free numbers for NABARD at insurer end along with two implants (contact persons). Insurance company to have offices in all state capitals. Hard Copies of the policies to be dispatched on request basis. Web services integration with Marsh India s IT Platform to issue motor insurance policies Extension of the insurance to second car (registered in own name) of existing NABARD employee under the same arrangement.

8 4 Proposal Instructions (A) Proposal Requirements You may note that for the purpose of the appointment of Group Motor Vehicle Insurer, a two-stage bidding process will be followed. The response to the present tender will be submitted in three parts, i.e., the Integrity Pact (IP), the Technical Bid and the Commercial Bid. The Bidder will have to submit the Integrity Pact, the Technical Bid and the Commercial Bid separately in three different envelops, but within the stipulated date and time. The terms and conditions of the IP are as indicated in Annexure I. The Technical Bid will contain the evaluation criteria indicated in Annexure 2, and Commercial Bid will contain the Pricing information as indicated in Annexure 3. The Technical Bid shall NOT contain any pricing or commercial information at all and if the Technical Bid contains any price related information, then that Technical Bid would be disqualified and would NOT be processed further. Your response should be organized into the following sections: Section 1 Section 2 Section 3 Section 4: Section 5: Executive Summary / Introduction Proposal Compliance Letter A letter signed by an authorized officer of Bidder(s) organization signifying the proposal s complete compliance with the RFP specifications except as specifically noted in the appropriate sections. Integrity Pact (as per Annexure I to this RFP) Technical bid (as per Annexure II to this RFP) Commercial bid (as per Annexure III to this RFP) Premium quotes should be mentioned along with rating as mentioned below:- - Discount Percentage on Own Damage Premium. - Add On Premium rates with terms & conditions & wordings. Section 6: Items included with Proposal.

9 Important Note: The Integrity Pact document is attached as Annexure -1. Compliance to Integrity Pact (as per format) is mandatory and shall be the pre-qualification criteria. Nonsubmission of Integrity Pact shall disqualify the prospective vendor/bidder at the initial stage and their Technical/Commercial bids shall not be opened. Prospective vendors/bidders are requested to submit a duly signed and stamped Integrity Pact (as per enclosed format) on an INR 200 Stamp Paper. All RFP responses received will be opened in front of a Committee constituted for this purpose in NABARD in the presence of not more than 2 representatives of each Bidder; in addition to representatives of Marsh India Insurance Brokers Ltd. (B) Important Terms: Quotes: The rates quoted must be final and considered firm regardless of actual claims experience as on the policy effective date. Terms: Your proposal must not include Cancellation and / or Premium / Claims review Clause.

10 (C) Process to be adopted for Evaluation of the Bids In the first stage, the Technical Bids in respect of only those bidders who fill the details as indicated in the Annexure 2, will be opened. The Technical Bids will be evaluated on the basis of Technical details and the points to be awarded as per following table:- Evaluation criteria for Technical Bids: Sr. No. Criterion (Data As per 31 st March 2018) Points Total 1 Number of Years Since License given by IRDA Up to Five (5) Year 2 2.Between 6-9 Years 5 3. Between Years 7 4. Above 12 Years 10 2 Gross Total Premium underwritten within India (In Crores) Up to Rs Crores 2 2. Rs. 2,001 Crores - Rs.3,000 Crores 5 3. Rs.3,001 Crores Rs Crores 7 4. Above Rs.4000 Crores 10 3 Motor Premium underwritten within India (In Crores) Up to Rs Crores 5 2. Rs. 1,000 Crores - Rs.1500 Crores Rs.1,501 Crores Rs Crores Above Rs.2000 Crores 20 4 Number of Motor Insurance policies being serviced during Financial Year( ) excluding Original Equipment Manufacturer (OEM) tie ups 1.Upto 3,00, , , , , ,001 or more 10 5 Motor Insurance Claims Ratio for FY as per IRDA published statistics 1. 85% & above % - 85% %-80% % or less

11 6 Self Survey/ Survey waiver for OD claim liability upto INR 15000/-. 1. No 0 2. Yes 10 7 Self-pre-inspection allowed for two wheelers wherever break in of insurance is there. 1. No 0 2. Yes 10 8 Please indicate the number of fleets managed by you (Above 1,000 motor vehicles) for Corporate clients excluding OEM Tie ups above (D) Bidders scoring equal to or more than 70% marks as per above evaluation in Technical Bid, will qualify for the further process of bidding. In the second stage, the Commercial Bids of only those bidders, who have qualified through the above process on the basis of evaluation of their Technical Bids, will be opened. In case of eliminated bidders, the sealed Commercial bid will be returned. NABARD reserves the right to: Reject any or all responses received in response to the RFP without assigning any reason whatsoever Cancel the RFP / Tender at any stage, without assigning any reason whatsoever. Waive or Change any formalities, irregularities, or inconsistencies in this proposal (format and delivery). Such a change / waiver would be duly and publicly notified in the Bank's website before the closure of the bid date. Extend the time for submission of all proposals and such an extension would be duly communicated by NABARD to all the companies. Select the next most responsive bidder if the first most responsive bidder evaluated for selection fails to result in an agreement within a specified time frame. Select the bidder even if a single bid is received as response. Share the information / clarifications provided in response to RFP by any bidder, with all other bidder(s) / others, in the same form as clarified to the bidder raising the query.

12 (E) Bid Submission 1. Response Format: Section 1 Integrity Pact to be submitted in a separate envelope Refer: Anneuxre-1 * Super-scribe the envelope with the reference # NABARD/GMVIP/ /IP Section 2 Technical Bid to be submitted in a separate envelope Refer: Annexure-2 * Super-scribe the envelope with the reference # NABARD/ GMVIP / /TB Section 3 Commercial Bid to be submitted in a separate envelope Refer: Annexure-3 * Super-scribe the envelope with the reference # NABARD/ GMVIP / /CB 2. The sealed covers containing the Integrity Pact, Technical Bid and the Commercial Bid should in turn be put in one single sealed outer envelope to be super-scribed as Integrity Pact, Technical and Commercial Bids for Group Motor Vehicle Insurance Policy " 3. The bid should be signed by the bidder or any person duly authorized to bind the bidder to the contract. The signatory should give a declaration and through authenticated documentary evidence establish that he/she is empowered to sign the tender documents and bind the bidder. All pages of the tender documents except brochures, if any, are to be signed by the authorized signatory. 4. The bid should contain no interlineations, erasures or over-writings except as necessary to correct errors made by the bidder. In such cases, the person/s signing the bid should authenticate such corrections. 5. The bidder is expected to examine all instructions, forms, terms and conditions and technical specifications in the Bidding Documents. Failure to furnish all information required by the Bidding Documents or submission of a bid not substantially responsive to the Bidding Documents in every respect will be at the Bidder s risk and may result in rejection of the bid. 6. No columns of the tender should be left blank. Offers with insufficient information and Offers which do not strictly comply with the stipulations given above, are liable for rejection. 7. The bids will be opened in the presence of authorized representatives of the bidders. However, the representative of the bidder has to produce an authorization letter from the bidder to represent them at the time of opening of Integrity Pact/Technical / Commercial bids. Only two representatives will be allowed to represent any bidder(s). In case the bidder s representative is not present at the time of opening of bids, the quotations / bids will still be opened at the scheduled time at the sole discretion of NABARD.

13 5 Product Proposition and Related Documents The Technical Bid submitted by the bidders must conform to the existing motor insurance policy as per regulations on as is basis. The Commercial Bid should be submitted in accordance with the RFP Terms & Conditions.

14 6 RFP Terms and Conditions: Following additional terms and conditions shall apply to the evaluation process: (a) Bidder warranties By submitting a Response, Bidder represents and warrants to NABARD that, as at the date of submission: i. The Bidder has fully disclosed to NABARD in its Responses all information which could reasonably be regarded as affecting in any way NABARD s evaluation of the Response; ii. iii. iv. all information contained in the Bidder(s) Response is true, accurate and complete and not misleading any way; no litigation, arbitration or administrative proceeding is presently taking place, pending or to the knowledge of the Bidder threatened against or otherwise involving the Bidder which could have an adverse effect on its business, assets or financial condition or upon NABARD s reputation if the Response is successful; the Bidder will immediately notify NABARD of the occurrence of any event, fact or circumstance which may cause a material adverse effect on the Bidder s business, assets or financial conditions, or NABARD s reputation or render the Bidder unable to perform its obligations under the NABARD agreement, if any or have a material adverse effect on the evaluation of the responses by NABARD; and v. the Bidder has not and will not seek to influence any decisions of NABARD during the evaluation process or engage in any uncompetitive behavior or other practice which may deny legitimate business opportunities to other Bidders. (b) Confidentiality Bidder must keep confidential any information received from or about NABARD as result of or in connection with the submission of the Response. All information contained in the Response, or in subsequent communications shall be deemed confidential and may be used only in connection with the preparation of Bidder s Response. Unless expressly agreed in writing prior to submission, Responses are not confidential and may be used by NABARD in whole or part. NABARD however, will not disclose the information provided by Bidder in a Response other than to its affiliates or to its professional advisors, unless required otherwise by any provisions of law. Additionally and at any point of the evaluation and selection process, NABARD may require the Bidder to execute a Non-disclosure Agreement (NDA) if the Bidder has not executed an NDA with NABARD previously.

15 (c) Disclaimer - Whilst all reasonable care has been taken in compiling this Response document, the figures, documents and details are presented in good faith; and no warranty or guarantee (express or implied) is given by NABARD as to the completeness or accuracy of the Response or any information provided in or in connection with it. To the maximum extent permitted by law: i. NABARD, its officers, employees and agents will not be liable in any way whatsoever for any loss, damage, cost or expense (including without limitation any liability arising from any fault or negligence on their part) arising from the evaluation process; and ii. Each Bidder releases and indemnifies NABARD from all claims, suits, demands, proceedings, actions, liabilities, damages and costs which may arise under statute, law, equity or otherwise arising from, whether directly or indirectly, or in connection with the evaluation and selection process. (d) (e) (f) (g) (h) (i) This RFP is not an offer to contract, nor should it be construed as such; it is a definition of specific NABARD requirements and an invitation to recipients to submit a responsive proposal addressing such requirements. NABARD reserves the right to make no selection and enter into no agreement as a result of this RFP. Only the execution of a written agreement between NABARD and a vendor will obligate NABARD in accordance with the terms and conditions contained in such agreement. It should be understood that your response to this RFP constitutes an offer to do business on the terms stated in your response and that, should a contract be awarded to you, NABARD may, at its option, incorporate all or any part of your response to this RFP in the contract. NABARD reserves the right to accept your offer without further discussions and without any additional opportunity for you to amend, supplement or revise your submitted letter. NABARD s right to verify NABARD reserves the right to conduct a site survey or obtain other evidence of facilities, resources, and managerial, financial and Bidder performance abilities prior to announcing the successful Bidder or awarding an agreement under this evaluation process. Financial documents NABARD may request additional financial/business information from the Bidder at its discretion. Selection criteria The selection criteria, enquiries, questions or information put forth in the Response are meant to be provided on the aforesaid and established through the details submitted by the bidder in the Technical Bid. Commercial bids of those companies which do not meet the evaluation standard of 50% marks, will not be opened and processed further. Termination/or suspension of evaluation process NABARD reserves the right to suspend or terminate the Bidder evaluation process (in whole or in part) at any time in its absolute discretion and without liability to the Bidder or any third

16 party. Bidders will be notified if any suspension or termination occurs but NABARD is not obliged to provide any reasons. (j) Other Rights Without limiting its rights under any other clause of this evaluation process or at law, and without liability to the Bidder or any third party, NABARD may at any stage of the evaluation process: (k) (l) i. Require additional information from the Bidder; ii. Change the structure and timing of the evaluation process; iii. Terminate further participation in the evaluation process by a Bidder; iv. Negotiate with more than one Bidder; v. Terminate negotiations being conducted with the Bidder; vi. Vary or extend the timetable and evaluation process; vii. Accept any non-complying Response; or viii. Vary the terms and conditions of the evaluation process, the RFP or specifications or requirements at any time. Responsibility for cost Bidder is responsible for all costs, expenses or liabilities incurred by them or on their behalf in relation to the evaluation process (including in relation to providing NABARD with the response, the revised response or any additional information). Non-Reliance by Bidder Bidder, by submitting a Response, acknowledges that : i. it does not rely on any information, representation or warranty, whether oral or in writing or arising from other conduct, other than that specified in this RFP or otherwise provided by NABARD in writing; ii. it has made its own inquiries as to regarding the risks, contingencies and other circumstances that may have an effect on the Bidder s Response as well as the accuracy, currency or completeness of such information; and iii. Information provided in its Responses are based on historical trends does not constitute a representation that such trends will continue into the future or occur again and nothing contained in its Response can be relied upon as a commitment, guarantee or representation regarding future events or performance. (m) NABARD s right to vary NABARD reserves the right to vary any aspect of this evaluation process, RFP without liability to Bidder. Where NABARD varies any aspect of this evaluation process or the agreement, NABARD shall notify the Bidder of that variation. (n) Incorporation of Responses into agreement The successful Bidder as concluded by NABARD shall sign a NABARD agreement. NABARD may, at its sole discretion, incorporate any portion of any successful Response of a successful Bidder in to the final NABARD agreement. NABARD may require a successful Bidder to submit, before negotiation of the NABARD agreement, details of issues which may affect their ability to act as a Bidder.

17 (o) (p) Precedence of Documents - If there is any inconsistency between the terms of this RFP and any of its appendices, schedules or attachments then, unless the contrary is explicitly stated in this RFP, the terms of the RFP will prevail to the extent of any inconsistency. Governing Laws and Dispute Resolution The RFP and selection process shall be governed by and construed in accordance with the laws of India. Any dispute arising out of the RFP process shall be referred to arbitration under the Arbitration & Conciliation Act, 1996 as provided hereunder: a. If any dispute, difference or question shall at any time arise between the parties concerning anything or as to the rights, liabilities and duties of the parties under this RFP, the same shall be referred to arbitration and a final decision after giving at least 30 days notice in writing to the other (hereinafter referred to as the Notice for Arbitration ) clearly setting out the items of dispute to a sole arbitrator who shall be appointed as hereinafter provided. For the purpose of appointing the sole arbitrator referred to above, the NABARD shall send to the BIDDER within thirty days of the Notice of Arbitration, a panel of three names of persons who shall be presently unconnected with NABARD or the BIDDER. b. The BIDDER shall on receipt of the names as aforesaid select any one of the persons so named to be appointed as the Sole Arbitrator and communicate his name to NABARD within 15 days of receipt of the names. NABARD shall thereupon without any delay appoint the said person as the Sole Arbitrator. If the BIDDER fails to communicate such selection as provided above within the period specified, NABARD shall make the selection and appoint the said person as the Sole Arbitrator. c. If NABARD fails to send to the BIDDER the panel of three names as aforesaid within the period specified, the BIDDER shall send to NABARD a panel of three names of persons who shall be unconnected with either party. NABARD shall on receipt of the names as aforesaid, select any one of the persons and appoint him as the Sole Arbitrator. If NABARD fails to select the person and appoint him as the Sole Arbitrator within 30 days of receipt of the panel and inform the BIDDER accordingly, the BIDDER shall be entitled to appoint one of the persons from the panel as Sole Arbitrator and communicate his name to the NABARD. d. If the Arbitrator so appointed is unable or unwilling to act or refuses his appointment or vacates his office due to any reason whatsoever another Sole Arbitrator shall be appointed as aforesaid. e. The Arbitration shall be governed by the Arbitration & Conciliation Act, 1996 as in force time to time or any Ordinance or Legislation that may be made in lieu thereof. The award of the Arbitration shall be binding and final on the parties. It is hereby agreed that in all disputes referred to the Arbitration, the Arbitrator shall give a separate award in respect of each dispute or difference with the terms of reference and the award shall be a reasoned award.

18 f. The Courts in Mumbai only shall have the exclusive jurisdiction to deal with the matter(s) arising out of the above claims/dispute. g. The evaluation process as communicated earlier shall continue without any changes. h. In the event that you elect not to respond to this RFP, then the restrictions shall continue to apply to the use or disclosure of the information. Additionally, Bidders must immediately return this document and certify in writing to Marsh India Insurance Brokers Pvt. Ltd., that all copies have been returned to Marsh India Insurance Brokers Pvt. Ltd., or destroyed.

19 Annexure - 1 (Uploaded separately) Annexure 2 Section 1- Technical Bid for Policies in Period 01 st August 2018 to 31 st July 2019 Sr. Parameters( As on 31 No st March 2018) 1 Number of Years & Months Since License given by IRDA 2 Gross Total Premium underwritten within India ( In Crores) 3 Motor Premium underwritten within India ( In Crores) Number of Motor Insurance policies being serviced during Financial Year( ) excluding OEM tie ups 5 Motor Insurance Claims Ratio for FY as per IRDA published statistics 6 Self-Survey/ Survey waiver for OD claim liability up to INR 15000/- Self-pre-inspection allowed for two wheelers wherever break-in of insurance is 7 there Please indicate the number of fleets managed by you (Above 1,000 motor 8 vehicles) for Corporate clients excluding OEM Tie ups Response Please confirm for the following: Insurer Response: Claims to be intimated on Insurer s toll free number dedicated for NABARD. Insurer Response: All motor insurance policies to be insured on Roll over / Renewal basis as applicable. Insurer Response: Insured Customer s own declaration to suffice for NCB entitlement. Insurer Response: Pre Inspection to be conducted only in the case of break in insurance. Insurer Response: Cashless claim settlement to be assured at authorized branded workshops. Insurer Response: Premium & Claim MIS to be submitted on monthly basis to Marsh India. Insurer Response: Dedicated account management team of 2 people from Insurer s end. Insurer Response: Account review to be done monthly basis with Marsh India and quarterly with insured.

20 Annexure 3 Section 2 - Commercial Bid for Policy in Period 01 st August 2018 to 31 st July 2019 Motor Insurance- Comprehensive Own Damage Section Own Damage Discount percentage on the IDV Policy Excess/ Deductibles Insurer Remarks Please indicate %age Discount Applicable as per Indian Motor Tariff Add on Section Nil Depreciation Cover up to 7 years Engine Protect up to 7 years Consumables Cover up to 7 years Road Side Assistance; Key Replacement; Loss of Personal Belongings up to 7 years Rate Excess/ Deductible if any Rates should be valid for a period of 12 months effective 01 st August 2018 inclusive of the following: - Brokerage 2%