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Reinsurance and Other Insurance Services - prj_988

RFT ID prj_988
RFT Type Request for Proposals
Published 29-Aug-2023
Closes 5-Oct-2023 2:00pm
Covered Procurement Yes
Category Insurance services
Agency Insurance and Care NSW (icare)

Contact Person

Tender Details

Insurance & Care NSW (icare) is the statutory body responsible for the operation of NSW Government insurance and self-insurance funds. 

The scope of services extends to insurance, reinsurance and risk advice, including modelling, strategy development, actuarial and pricing advice, coverage analysis, including support for the TMF’s claims and underwriting functions.

The Reinsurance and Insurance Service Provider is responsible for facilitating the placement of icare’s reinsurance programme, into worldwide markets and providing recommendations and solutions on reinsurance matters as per the agreed arrangement. It also provides support for the management and placement of any other Scheme as determined by icare.

Overall objectives for this procurement include, but are not limited to:

  • Managing NSW State risk exposures through proactive strategic advice on minimising / efficiently managing government risks
  • Minimising the impact to the NSW State balance sheet of liabilities through cost-effective risk transfer
  • Continuous optimising of value proposition and improvement of insurance and reinsurance services to the NSW government
  • Efficient and cost-effective delivery of all services including minimising total cost of risk and cost of reinsurance to the NSW government
  • Supporting icare in reinsurance recoveries
  • Identifying and managing any future insurance risk and the management of reinsurance for other icare Schemes and Funds, or on behalf of other NSW agencies, as required
  • Supporting and assisting in delivery of strategic advice of risk monitoring, measurement and transfer, including pricing, modelling, risk mitigation design
  • Providing access to industry specific local and global specialists and data sources to create risk management strategies. 


NSW Regions: Far North Coast, Mid North Coast, New England, Central Coast, Hunter, Cumberland/Prospect, Nepean, Northern Sydney, Inner West, South East Sydney, South West Sydney, Central West, Orana/Far West, Riverina/Murray, Illawarra, Southern Highlands

RFT Type

Request for Proposals - An invitation for expressions of interest / seeking preliminary proposals. In many cases these may be used as a basis for shortlisting tenderers, along with other criteria such as expertise and experience. Prospective tenderers are initially evaluated for their proposal against the relevant selection criteria. A number of those who best meet the criteria are invited to tender. For complex or some other types of procurement, where the product or service outcomes are highly dependent on the content of the proposals received from Tenderers, the outcome may be negotiated.

Additional Details / Instructions

A Market Briefing will be held on Friday 1 September 2023 between 11:30 am - 12:30pm, AEST via MS Teams webinar. Registration MUST be submitted by 31 August 2023, 2pm, AEST.

Please refer to Respondent Market Briefing on page 2 of Part A RFP document.


Address for Lodgement

Electronically via this website only.

Covered Procurement Details

  • The Procurement (Enforceable Procurement Provisions) Direction 2019 applies to this procurement
  • A government agency may conduct negotiations with suppliers regarding the procurement

Estimated Timeframe for Delivery

Anticipated contract/s commencement from December 2023/January 2024

APP Reference

Multi Agency Access


Multi Agency Access Type

All Agencies