Corporate Office:: Marketing Department : : Insurance Division

Transcription

1 Corporate Office:: Marketing Department : : Insurance Division Providing Life Insurance Cover through Master Policies under Group Life Insurance for: 1) Housing Loan Borrowers of the Bank 2) Education Loan Borrowers of the Bank 3) Saving Bank Account Holders of the Bank (SyndSuraksha) 4) Savings Bank accounts opened under Financial Inclusion ) Plan of the Bank (Micro Insurance) (All separate products) RFP Reference No 02/2014/INS/ Last date and time for seeking clarification Issue of clarifications Last Date and Time for at Hrs receipt of Quotations Place of submission of Syndicate Bank, Quotations & Insurance Division, Address for communication Corporate Office Mezzanine Floor, Syndicate Bank Building 2 nd Cross, Gandhinagar BANGALORE Phone: GM AGM Gen: Fax id [email protected] RFP-02/2014/INS/

2 Section I: Information Syndicate Bank a bank constituted and functioning under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, invites quotations/offers in separate sealed covers from Life Insurance Companies in India who satisfy pre-qualification set out in this RFP (listed in the document Section III Pre-qualification for the bidder) for providing Life insurance cover to the existing & newly enrolled members for the following on optional basis: 1 Housing Loan Borrowers of the Bank Single Premium Under 2 Education Loan Borrowers of the Bank Group Credit Life Policy (G C L P) 3 Saving Bank Account Holders of the Bank (SyndSuraksha) 4 Savings Bank accounts opened under Financial Inclusion Plan of the Bank (Micro Insurance) Yearly Renewable Group Term Master Policy Details of the objectives, scope of services, eligibility and qualification criteria, data & documents required to be submitted along with RFP and other information are contained in the RFP document. The RFP document can be downloaded from the Bank s website PDF format may be converted to MS WORD. Alternatively hard copies of the document can be had from SyndicateBank, Corporate Office, Marketing Dept, Insurance Division, Mezzanine Floor, Syndicate Bank Building, 2 nd Cross, Gandhinagar, BANGALORE (India), +91 (80) (G) +91 (80) (Fax), [email protected] on payment of ` 500/- by DD favouring SYNDICATE BANK. The last date and time for submission of proposals, complete with all the requirements as given in the RFP document, is 1300 hours on November 24, SD/- GENERAL MANAGER RFP-02/2014/INS/

3 Section II: Objectives, Scope of Proposed Policies & Background Information Syndicate Bank is one of the leading Public Sector Banks having Pan India presence. The Bank was established in 1925 and was nationalized in July The Bank got listed in the year Further dilution in ownership was done through a Follow-on Public Offer (FPO) in Currently the Government of India (GoI) holds at 67.39%. Bank had obtained Master Policies from different Life Insurance Companies for different products. Bank wants to standardize all the products & make available to the customers of the Bank with competitive premium rates and other advantages. Details about Bank s requirements, information about the target groups and the available details of existing Master Policies are appended below: 1) Housing Loan Borrowers of the Bank 2) Education Loan Borrowers of the Bank Particulars Proposed Type of Master Policy Type of cover required Proposed Master Policy tenure Exit Clause Insurance cover date Eligibility to become member Requirements Insurance Cover to Joint Borrowers/Guarantors Insurance Cover required Housing Loan Education Loan Borrowers Borrowers Single Premium Under Group Credit Life Policy (G C L P) Life Insurance cover without any rider Minimum three years & can be further extended with mutual understanding. (However, insurance coverage for the enrolled member shall continue till the tenor of the loan, if the membership is not foreclosed) Bank will have the right to exit from the Master Policy by giving 90 days written notice to the Insurance Provider Insurance cover for the member to start from the date of acceptance of enrollment by Insurance Provider. (Exclusion can be for first year death due to suicide.) Housing Loan Borrowers of the Bank Education Loan Borrowers of the Bank Optionally be made available. Discount to be allowed for joint insurance covers Flat up to sanctioned amount of loan during Moratorium & Course period. Reducing cover on notional balance of loan calculated on the basis of notional rate of interest To be borne by the Insurance Expenses on Medical Check up Provider, whether the proposal is accepted or not Proposed Minimum Entry Age (Age last Birthday) 18 years 16 years RFP-02/2014/INS/

4 Proposed Maximum Entry Age (Age Last Birthday) 59 years 59 years Maximum age upto which Insurance cover required 70 years 70 years Participation Voluntary & premium to be paid by the borrower Premium payment frequency Single Premium No of Loan Accounts eligible to become members (As on ) Eligible Loan amount (` in crores) Average Loan Size (` in lacs) Average Age of the Borrowers 40 years 20 years Loan Tenor for which Insurance cover is required 1 to 30 years with 18 months moratorium Course period + moratorium1 year + 7 years repayment period Average Rate of Interest for the purpose of calculating insurance premium Support requirement by Insurance provider Issue of Premium paid Receipts Issue of Certificates of Insurance Assignment Death Claim Settlement 12.00% 13.00% 1) Bank prefers to have support staff mapping at all our Regional Offices level 2) Support to our Branches for enrolling members, arranging of Health Check-up etc 3) Providing sales brochures to Branches for business promotion 4) Bank prefers to have web based software for data entry by our Branches, data generation & claim administration Preferably on the spot by generating through web based software to be provided by the Insurance Provider or otherwise as per tools/materials provided by the insurance provider. Preferably by generating through web based software to be provided by the Insurance Provider on completion of the process. Individual membership to be assigned in favour of the Bank. In favour of the Bank for full insured amount, as the individual membership under the proposed Master Policy will be assigned in favour of the Bank. Bank will appropriate the claim to the loan liabilities of the insured borrower first and excess if any will be passed on to the claimants as per Bank s standard procedures. RFP-02/2014/INS/

5 Existing Life Insurance Provider Number of Members enrolled since last three years under existing Master policies. Premium Collected by Existing Insurance Providers since last three years (` in lacs) Claims Settled (No of Claims) Claims Settled Amount (` in lacs) Details of Existing Master Policies TATA AIA Life Insurance Co Ltd PNB MetLife Insurance Co Ltd Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil RFP-02/2014/INS/

6 3) Saving Bank Account Holders of the Bank (SyndSuraksha) 4) Savings Bank accounts opened under Financial Inclusion Plan of the Bank (Micro Insurance) Proposed Type of Master Policy Requirements Particulars SyndSuraksha Micro Insurance Master Policy validity (Bank intends to retain the Policy with the same terms & conditions for three years) Exit clause Eligibility to become member # In case of joint Accounts, separate Insurance cover has to be obtained for joint holders Proposed Age Group Participation Enrollment forms Proposed Premium Slabs Proposed Mode of calculation of premium Dates of Renewal Premium payment of individual member under the Proposed Master Policies Date of Expiry of Insurance cover to individual member in the proposed Master Policy Term Policy with Accident benefit Term Policy with or without Accident benefit One year as per IRDA Guidelines Bank will have the right to exit from the Master Policy by giving 90 days written notice to Insurance Provider All SB A/c holders of the Bank # SB A/cs opened under Bank s Financial inclusion Plan # years last birthday Voluntary: Premium to be borne by individual Account Holder Bank intends to retain the signed enrollment forms at the Branches & provide soft data to insurance provider Preferably Single Age-wise rate for entire premium rates group years years years years years Pro-rata for first year & full premium on renewals On a common date for all members (renewal premium will be debited to Account holders during the entire month and consolidated renewal premium remitted to insurance provider after completion of the month) On the date expiry of Master policy (30 days grace period) Full Premium for both First year & Renewals On the last day of the month for the memberships expiring during the month One year from the date of enrollment/ renewal (30 days grace period) No. of Eligible accounts as on (Need to factor Multiple accounts of a single person, Non eligible lacs lacs accounts on age factor & Dormant accounts) Proposed Insured amount per person: Minimum ` 1.00 lac ` 30000/- Optional additional Insurance In multiples of ` 1.00 lac (Reduction to lower slab not permitted) Nil RFP-02/2014/INS/

7 Maximum Insured Amount per person ` 5.00 lac ` 30000/- Equal to Insured Additional Accident Insurance Benefit required Equal to Insured amount ( Bank may choose amount accident benefit rider or otherwise) Requirement of additional features like Critical Illness, Permanent/Partial Disability etc Not required Not required Insurance Cover start date Insurance cover to start from the Treatment of single person having multiple memberships under the same Master Policy Support requirement Issue of Premium paid receipts Issue of Certificates of Insurance Claim Settlements date of enrollment Cover restricted to highest insured amount allowed under each Master Policy Centralized software for data entry by our Branches, data generation & claim administration Immediately: preferably by generating through web based software to be provided by the Insurance Provider Preferably by generating through web based software to be provided by the Insurance Provider on completion of the process. Centrally at one point in favour of Nominee under information to Syndicate Bank Corporate Office Insurance Division Details of Existing Master Policies Existing Insurance Providers L I C of India Birla Sun Life Insurance Co Ltd Existing eligible age group years years Average age of existing Group members 39 years 40 years ` years Existing yearly premium rates: Age Group-wise ` 235 uniform (inclusive of Service Tax) ` 585 ` 15 PA ` 875 Existing Basic Life Insurance cover ` 1.00 lac ` 25000/- Existing additional Accident Benefit ` 1.00 lac Nil Existing Critical illness benefit available Nil ` 25000/- No of existing members under the Group Premium paid to existing Insurance Providers during the current year (` in lacs) Claims Settled (No of Claims) Claims Settled Amount (` in lacs) RFP-02/2014/INS/

8 Section III Pre-qualification for the bidder: 1. The bidder must have a valid IRDA license for procuring Life insurance business in India and shall have complied with all the statutory requirements of IRDA. 2. The bidder should have at least ONE Bank other than RRBs and Co-operative Banks as channel partners either under Corporate Agency arrangement or under group insurance tie up, which is operational for a minimum of One year as on The bidder must have a track record of minimum Two years of operations in life insurance business in India as on , i.e. Completed Two years of commencement of business as on The bidder must have the track record of 80% or above overall claim settlement ratio (on number of policies) for the last two years as on Section IV Terms & Conditions: 1. Quotation Validity Period: The offer should hold good for a period of 90 days from the last date of submission of the RFP. 2. Bank, at its discretion may select a single or separate insurance company for different Master Policies under the RFP. Bank is looking for best suited Master Policies based on the past experience and accordingly requirements are placed in the RFP document. However, the same is subject to availability of the products with Insurance Companies and Bank may select an Insurance Provider having similar or nearer to the product feature required by the Bank. 3. Bank does not propose any minimum floor level business volume. 4. Exclusions if any shall be clear and specific. 5. Premium quotes should be in Indian Rupees only with two decimal points and per Rs.1,000 of sum assured as per tables in Page No 13 (SyndSuraksha), Page No 14 Micro Insurance, Page No 15 & 16 (Housing Loan Borrowers) and Page No 17 & 18 (Education Loan Borrowers) of this document. Service Tax component in the premium has to be clearly indicated to avoid future complications. 6. Bank s endeavor is to reach all the eligible customers of the Bank and provide benefits of hassle free Life Insurance cover at a competitive premium rate. To provide ease of administration and to reach all eligible customers, Bank is looking for Web Based Software available to all our Branches for (1) Data entry by our Branches, (2) Debiting of premium including renewal premium (3) Generation of Branch-wise and All India MIS (4) Generation of instant premium receipts (5) Printing of Certificates / Renewal Certificates of Insurance etc. 7. Product knowledge Training to Bank s personnel have to be provided by proposed insurance provider at strategic locations preferably at all our Regional offices at their cost. 8. Cost of printing of enrollment forms & advertisement material (product brochures), cost of training, providing Web Based Software etc have to be borne by the proposed Insurance provider. 9. The claim administration shall be a simplified procedure. Basic Sum assured shall be settled immediately on production of Death Certificate issued by the issuing authority. The insurance provider will not ask for certificates from Doctors / Hospitals regarding cause of death. Additional Accidental Death Benefit will be settled on production of copies of First Information Report (FIR) and Post Mortem Report (PMR). The insurance provider may insist on Final Report (FR) in doubtful RFP-02/2014/INS/

9 cases & ambiguous FIRs. 10. The insurance cover against death due to any cause, under all the Master Policies will start from the date of enrollment (date of entry by our branches in the Web Based Software to be made available by the insurance provider). Sufficient time margin has to be provided for remittance of premium to the account of the insurance provider. 11. The proposed Group Policies for borrowers under Housing Loans & Education Loans will be valid for THREE YEARS & can be further renewed with mutual understanding on the same terms & conditions. In the event of unsatisfactory claim settlement, Bank should be at liberty to exit from the Master Policy by giving 90 days written notice to the Insurance Provider. However insurance coverage for the enrolled member shall continue till up to his/her policy term irrespective of subsequent renewal of the Master Policy or not. 12. The proposed Group Policies under SyndSuraksha and Micro Insurance will be valid for ONE YEAR (As per IRDA Guidelines) With provision for yearly renewal for 3 years on same terms & conditions, with Bank having an option to exit by giving 90 days written notice to the Insurance provider. 13. The insurance provider shall be liable for all costs and consequences arising out of the settlement of the claims by the policy holder and deficiency of service/negligence or any other consumer dispute and the Bank is in no way liable for any of the claims by the policy holders. The settlement, sanction, benefits arising out of the insurance policy are within the functional area of the insurance provider only and the successful bidder/insurance provider shall execute a separate Memorandum of Understanding in this regard and the insurance provider shall indemnify the Bank for all such costs and consequences arisen out of the claims on the insurance policy by the policy holder/customer of the Bank. The liability of the insurance provider towards the policy holder shall be continuing irrespective of the termination of the contract as per the terms of the RFP. 14. Bank invites separate quotes for each Master Policy strictly as per Bank s requirement. Quotes submitted in a format other than the one provided by the Bank in this document will not be considered Section V: Evaluation Criteria The evaluation process will be as below. Group Policies for Housing Loan and Education Loan Borrowers of the Bank Sl No Evaluation criteria Weightage 1 Insurance Experience in India 5.00% 2 Group & Bancassurance experience in India 10.00% 3 Business standing in India 5.00% 4 Overall Claim settlement ratio of the Company (number of claims) 5.00% 5 Average Claim Settlement Period under Group Policies 5.00% 6 Non Medical underwriting limit 5.00% 7 Ability to Map dedicated personnel to the Regional Offices of the Bank 10.00% Technical total 45.00% 8 Premium rate quotations (Commercials) 55.00% Group Policies for SyndSuraksha and Micro Insurance Sl No Evaluation criteria Weightage 1 Insurance Experience in India 5.00% 2 Group & Bancassurance experience in India 10.00% 3 Business standing in India 5.00% 4 Overall Claim settlement ratio of the Company (number of claims) 5.00% 5 Average Claim Settlement Period under Group Policies 5.00% RFP-02/2014/INS/

10 6 Ability to provide Web based software to our Branches 10.00% 7 Ability to Map dedicated personnel to the Regional Offices of the Bank 5.00% Technical total 45.00% 8 Premium rate quotations (Commercials) 55.00% Section VI - Instructions to the Bidders 1. The last date and time for submission of proposal, complete with all the requirements as listed below in this document, is 1300 hrs on 24 th November Each sealed envelope containing the quotes is required to be super scribed with a. Quotation of Life Insurance cover to Housing Loan Borrowers b. Quotation of Life Insurance cover to Education Loan Borrowers c. Quotation of Life Insurance cover under SyndSuraksha d. Quotation of Life Insurance cover under Micro Insurance as the case may be and submitted at Syndicate Bank, Insurance Division, Corporate Office, Mezzanine Floor, Syndicate Bank Building, 2 nd Cross, Gandhinagar BANGALORE The proposal shall be submitted in two copies (one original and duplicate) and one CD containing the Soft copy of the response in word format (.doc /.docx) (NO PDF PLEASE!) along with your response. 4. The details required for technical evaluation must be provided as per Annexure -1 (Page No.12) & the premium quotes for different products should be submitted as per formats provided in page No.13 (Synd Suraksha) Page No.14 (Micro Insurance) Page No. 15 & 16 (Housing Loan product) & page No. 17 & 18 (Education Loan product) and should be submitted along with Covering Letter as per Annexure-2 (Page No.19). The quotation should be accompanied by an undertaking and the authority to quote as per Annexure-3 (page No.20). The bids will be evaluated based on appropriate selection method. 5. The cost of preparing and submitting the proposal shall have to be borne by the Insurance Company and the Bank reserves the right to reject any or all of the proposal and/or annul the entire process without assigning any reason what so ever. The Bank may abort the entire process at any stage without thereby incurring any liability to the affected Bidder(s) or any obligation to inform the affected Bidder(s) of the grounds for Bank's action. 6. Clarifications to the RFP should be sought from [email protected] latest by 10 th November Responses to the queries will be mailed to the Bidders. 7. Hard copies of the RFP document can be obtained from SyndicateBank, Corporate Office, Marketing Dept, Insurance Division, Mezzanine Floor, Syndicate Bank Building, 2 nd Cross, Gandhinagar, BANGALORE (India), on payment of ` 500/- by DD favouring SYNDICATE BANK. RFP-02/2014/INS/

11 Section VI : General Instructions to Companies participating in the RFP Process: 1. No Commitment to accept Lowest or any Offer: Syndicate Bank shall be under no obligation to accept the lowest or any other offer received in response to this RFP and shall be entitled to reject any or all offers including those received late or incomplete offers without assigning any reason whatsoever. Syndicate Bank reserves the right to make any changes in the terms and conditions of offer. Syndicate Bank will not be obliged to meet and have discussions with any Insurance Company and / or to listen to any representation. 2. Erasures or Alterations: The quotation/offer should be neatly typed and no hand-written addition/alterations should be there. Such additions/alterations will make the offer ineligible. Details must be completely filled up. Syndicate Bank may treat quotations/offers not adhering to these guidelines as unacceptable. 3. Negotiation: It is absolutely essential for the Insurance Companies to quote the best rate of premium in their own interest. Syndicate Bank may enter into a price negotiation, if necessary, only with the company that offers the best rate and other benefits to the members as stated. 4. Right to Alter Terms & Conditions: Syndicate Bank reserves the right to alter the terms of offer specified in the RFP document, including the last date for submission of bids. 5. Signing of Service Level Agreement (SLA) and issuance of Master Policy: The selected Insurance Provider shall have to execute an SLA containing terms and conditions of contract including indemnity, non-disclosure clauses etc. Bank reserves the right to select the next ranked bidder, if the selected bidder withdraws his offer or bank detects wrong or misleading information in the proposal later. In case the selected bidder withdraw their offer, Bank reserves right to take such action as it deems fit, including claim of damages against the Bidder. 6. An authorized representative of the Bidder shall initial all pages of the original Bids and Financial Bids with company seal. The authorization shall be in the form of a written power of attorney accompanying the Proposal or in any other form demonstrating that the representative has been duly authorized to sign. The signed Bids shall be marked ORIGINAL. RFP-02/2014/INS/

12 1 Date of Commencement of business in India Annexure 1 Details required for Technical Evaluation Corporate Agency Group Policies provided to Banks 2 Group & Bancassurance experience in India (Details pertaining to Banks other than RRBs & Co- Operative Banks are required) (Separate sheets with same columns may be used if the space is not sufficient) Name of the Bank From date Name of the Bank Type of Policy (Loan Product, Micro or term insurance) No of members under the Policy From date 3 Business Dimensions in India 4 5 Overall Claim settlement Ratio of the Insurance Company (on number of policies) Average Claim Settlement Period under Group Policies 6 Non medical underwriting limit 7 8 Ability to provide Web based software to our Branches (Please Tick appropriate Box) Ability to Map dedicated personnel to the Regional Offices of the Bank (List of 47 Regional Offices enclosed as Annexure 4) Please provide details about man power deployment (Group Support personnel) at field level No of Branches Pan India as on First Year Premium Collections (`in crores) Year Received Settled % of claims settled Year Within 30 days Age band years Above 25 to 35 Above 35 to 45 Above 45 to 55 Above 55 to 65 Already provided to other Banks & able to provide immediately Yes days Beyond 60 days Sum assured (`in lacs) Housing Loan Education Loan Not provided at present but able to provide immediately Not able to provide We hereby declare that the information provided above (point No 1 5) are the true extracts of Company s Books. No Signature of the Authorized person with seal RFP-02/2014/INS/

13 Age Group Premium Quote for SyndSuraksha Premium quote shall be in Indian Rupees with two decimal points Annual Term Premium per Total Annual Term premium per Service Tax Insured amount of Insured amount of (presently ` 1000/- including Accident ` 1000/- including % of benefit premium excusive of benefit premium & inclusive of Annual premium) Service Tax Service Tax 18 to 35 years 36 to 45 years 46 to 55 years 56 to 64 years Signature of the Authorized person with seal RFP-02/2014/INS/

14 Premium Quote for Micro Insurance Age Group Premium quote shall be in Indian Rupees with two decimal points Annual Term Premium per Total Annual Term premium per Insured amount of Service Tax Insured amount of ` 1000/- without Accident (presently ` 1000/- without Accident benefit benefit premium excusive % of premium & inclusive of Service Service Tax Annual premium) Tax 18 to 64 years Age Group Annual Term Premium per Insured amount of ` 1000/- Including Accident benefit premium excusive of Service Tax Service Tax % of Annual premium) Total Annual Term premium per Insured amount of ` 1000/- including Accident benefit premium & inclusive of Service Tax 18 to 64 years Signature of the Authorized person with seal RFP-02/2014/INS/

15 Single premium Offer Age & Tenor wise (For Housing Loan Borrowers) Premium quotes for Life Insurance cover without Accident Benefit 1. Premium rates are inclusive of service tax & will be valid for next three years 2. Maximum Holiday period: 18 months. 3. For computation of premium, age as on last birthday to be considered 4. For amortization schedule, interest will be calculated at notional interest rate of 12.00% Per Annum, monthly compounded. Tenor of the loan in years including holiday period and repayment period Age at the time of enrollment RFP-02/2014/INS/

16 Signature of the Authorized person with seal RFP-02/2014/INS/

17 Single premium Offer Age & Tenor wise (For Education Loan Borrowers) Premium quotes for Life Insurance cover without Accident Benefit 1. Premium rates are inclusive of service tax & will be valid for next three years 2. For computation of premium, age as on last birthday to be considered. 3. Maximum Study period is 7 years. 4. Maximum Holiday period 1 year. 5. For amortization schedule, interest will be calculated at notional interest rate of 13.00% Per Annum, monthly compounded. 3 Tenor of the loan in years including maximum study period, holiday period and repayment period Age at the time of enrollment RFP-02/2014/INS/

18 Signature of the Authorized person with seal RFP-02/2014/INS/

19 Annexure-2 RFP Offer Covering Letter Separate Covering letter for each Master Policy Date: RFP Reference No.: 02/2014/INS/ To The General Manager Syndicate Bank, Insurance Division, Marketing Dept Corporate Office, Mezzanine Floor, Syndicate Bank Building 2 nd Cross, Gandhinagar BANGALORE Having examined the RFP documents and terms of offer, we offer to provide the following Life Insurance Cover in conformity with the said RFP documents. 1 Housing Loan Borrowers of the Bank Yes No 2 Education Loan Borrowers of the Bank Yes No 3 Saving Bank Account Holders of the Bank (SyndSuraksha) Yes No 4 Savings Bank accounts opened under Financial Inclusion Plan of the Bank (Micro Insurance) Renewable Term Insurance Yes No If our quotation is accepted, we undertake to commence operation of the scheme within (Number of) days. We agree to abide by this RFP offer till 90 days from the closing date of quotation and our offer shall remain binding upon us and may be accepted by the Bank any time before the expiry of such period. Until a formal SLA is executed and Master policy is issued under Group Insurance Scheme, this quotation, together with the Bank s written acceptance thereof shall be binding on us. We understand that the Bank is not bound to accept the lowest or any offer the Bank may receive. We confirm that the signature appearing on each page (including all enclosures) is that of the signature of the authorized signatory duly authorized by the bidder company supported by authorization letter / Board resolution to make quotation, copy of which is enclosed. Dated this day of 2014 Signature: (in the Capacity Duly authorized to sign the RFP offer for and on behalf of RFP-02/2014/INS/

20 Annexure-3 UNDERTAKING BY THE COMPANY Undertakings to be provided separately for each quote We, during the course of operation of the scheme/service may be having access to restricted/confidential/internal information/data of the bank and therefore, we undertake that 1. We will not disclose or make available to any third party, any confidential, internal information of the bank or information about its clients nor will grant direct access to such information. 2. We will maintain such confidentiality during the period of contract with the bank as well as after the termination of such service. 3. We will protect confidential / internal information of the bank from loss and unauthorized use and manipulation and will indemnify the Bank in case of reputation loss or any kind of loss. Seal and Signature of authorized signatory. RFP-02/2014/INS/

21 Annexure 4 List of 47 Regional offices of the Bank Sl No Regional Office FGMO Sl No Regional Office FGMO 1 BANGALORE NORTH BANGALORE 27 BHUBANESHWAR KOLKATA 2 BANGALORE SOUTH 28 GUWAHATI 3 BELGAUM 29 KOLKATA 4 BELLARY 30 PATNA 5 BIJAPUR 31 AGRA 6 MYSORE 32 BHOPAL 7 CHENNAI CHENNAI 33 LUCKNOW 8 COIMBATORE 34 MEERUT 9 ERNAKULAM 35 MORADABAD 10 MADURAI 36 VARANASI 11 SALEM 37 HUBLI 12 THIRUVANANTHAPURAM 38 KANNUR 13 CHANDIGARH DELHI 39 KARWAR 14 DELHI I 40 MANGALORE 15 DELHI II 41 UDUPI 16 FARIDABAD 42 AHMEDABAD 17 GHAZIABAD 43 MUMBAI I 18 JAIPUR 44 MUMBAI II 19 LUDHIANA 45 NAGPUR 20 ANANTAPUR HYDERABAD 46 PANAJI 21 HYDERABAD CITY 47 PUNE 22 HYDERABAD RURAL 23 NELLORE 24 ONGOLE 25 VIJAYAWADA 26 VISAKHAPATNAM LUCKNOW MANIPAL MUMBAI RFP-02/2014/INS/

22 General Conditions: 1. Bid received by the Bank after the deadline for submission of Bids mentioned above will not be accepted. In the event of the specified date and time for the submission of Bids, being declared a holiday for the Bank, the Bids will be received up to 1300 hours on the next working day. The Bank may, at its discretion, extend this deadline for submission of bids by amending the RFP, in which case all rights and obligations of the Bank and bidders previously subject to the deadline will thereafter be subject to the deadline as extended. 2. The Bank reserves the right to add / delete / modify any of the clauses in this RFP during the tendering process. Such addition / deletion / modification will be published only through Bank s website and no advertisement will be made through print media. 3. RFP Ownership - The RFP and all supporting documentation / templates are the sole property of Syndicate Bank and should NOT be redistributed without the prior written consent of Syndicate Bank. Violation of this would be a breach of trust and may, inter-alia cause the Vendor to be irrevocably disqualified. 4. Confidentiality - This document contains information which are confidential and proprietary to Syndicate Bank. Additionally, the Bidder will be exposed by virtue of the contracted activities to internal business information of Syndicate Bank, affiliates, and/or business partners. Disclosure of receipt of this RFP or any part of the aforementioned information to parties not directly involved in providing the services requested could result in the disqualification of the Bidder, pre-mature termination of the contract, or legal action against the bidder for breach of trust. No news release, public announcement, or any other reference to this RFP or any programme thereunder shall be made without written consent from Syndicate Bank. Reproduction of this RFP, without prior written consent of Syndicate Bank, by photographic, electronic, or other means is strictly prohibited except conversion of bid formats from PDF to MS WORD for compliance. 5. The Bank reserves the right to reject the Bid if, The Bid is INCOMPLETE as per the RFP requirements Any condition stated by the Bidder is not acceptable to the Bank The Bidder does not provide, within the time specified by the Bank, the supplementary information / clarification sought by the Bank for evaluation of the Bid. RFP-02/2014/INS/

23 Disclaimer: 1. This document is intended to enable the Life insurance Companies to participate in the process of bidding. 2. This document does not constitute, nor should it be interpreted as an offer or invitation for the appointment of the bidder. 3. This document is meant to provide information only and upon the express understanding that will be used only for the purposes as stated in the RFP document. No representation or warranty, expressed or implied, is or will be made as to the reliability, accuracy or the completeness of any of the information contained herein. It does not purport to be all inclusive or contain all the information regarding the Respondents or be the basis of the contract. It shall not be assumed that there shall be no deviation or change in any of the herein mentioned information on roles and responsibilities of Bidders. While this document has been prepared in good faith, neither the Bank, nor any of their officers/directors make any representation or warranty or shall have any responsibility or liability whatsoever in respect of any statements or omissions here from. Any liability is accordingly and expressly disclaimed by the Bank and any of their officers/directors, even if any loss or damage is caused by any act or omission on the part of the Bank or any of their officers/directors, whether negligent or otherwise. 4. The Bidder agrees that any information herewith will be superseded by any subsequent written information on the same subject made available to any or all the bidders by or on behalf of the Bank. The Bank and any of their respective officers/directors undertake no obligation, among others, to provide the recipient with access to any additional information or to update this document or to correct any inaccuracies therein, which may become apparent, and they reserve the right, at any time and without advance notice, to change the procedure for the selection of or any part of the interest or terminate negotiations or the due diligence process prior to the signing of any binding agreement. 5. Accordingly, interested bidders should carry out an independent assessment and analysis of the requirements of the information, facts and observations contained herein. 6. This document has not been filed, registered or approved in any jurisdiction. Proposed Bidders should inform themselves and/or observe any applicable legal requirement. 7. This document constitutes no commitment on the part of the Bank. Furthermore, this document confers neither the right nor an expectation on any party to participate in the proposed process. 8. When any proposal is submitted pursuant to this RFP, it shall be presumed by the Bank that the bidder has fully ascertained and ensured about its eligibility to act as an insurer in the event of the same being selected ultimately to act as insurer, under the respective governing laws and regulatory regimen, and that there is no statutory or regulatory prohibition or impediment to acting as above. END OF THE DOCUMENT RFP-02/2014/INS/