INSURANCE REGULATORY AND DEVELOPMENTAUTHORITY OF INDIA

HYDERABAD

Minutesof the 59^th meeting of the Procurement Committee held on 20^thMarch,2020

Present:

i.     Shri. K.Ganesh - Chairperson

ii.    ShriM. Pulla Rao, ED-General - Member

iii.   ShriP.K. Maiti, GM-Enforcement - Member

iv.  Shri M.S.Jayakumar, CAO - Member Convener

User Department present:

v.   Smt. Neetu Shahdadpuri, AGM

Renewal of Group Medishield Insurance Policy

Administration Department submitted the agenda andapprised the Committee as follows:

2.    The existing Group Medishield Policy (GMP) isexpiring on 19.4.2020. Quotations were called for from all General InsuranceCompanies and Stand Alone Health Insurance Companies and the last date forsubmission of quotes was 16^th March, 2020.

3.    In response,12 insurers have submitted their quotes.The quotes were evaluated keeping in view, the coverage and other terms underwhich the bids were called for. On the basis of conformity with the requiredcoverage, the department recommended L1 bidder out of 7 for renewal of GMP forthe year 2020-21.

4.    The Committee noted the submissions and recommendedfor renewal of Group Medishield Insurance Policywith M/s IffcoTokio GeneralInsurance Company Limited at their quoted price of Rs.1,11,51,000/- (includingGST).

The meeting concluded with vote of thanks to the Chair.