INSURANCE REGULATORY AND DEVELOPMENT
AUTHORITY OF INDIA
of the 59th meeting of the Procurement Committee held on 20thMarch,
Shri. K.Ganesh - Chairperson
M. Pulla Rao, ED-General - Member
P.K. Maiti, GM-Enforcement - Member
Shri M.S.Jayakumar, CAO - Member Convener
User Department present:
Smt. Neetu Shahdadpuri, AGM
Renewal of Group Medishield Insurance Policy
Administration Department submitted the agenda and
apprised the Committee as follows:
The existing Group Medishield Policy (GMP) is
expiring on 19.4.2020. Quotations were called for from all General Insurance
Companies and Stand Alone Health Insurance Companies and the last date for
submission of quotes was 16th March, 2020.
In response,12 insurers have submitted their quotes.
The quotes were evaluated keeping in view, the coverage and other terms under
which the bids were called for. On the basis of conformity with the required
coverage, the department recommended L1 bidder out of 7 for renewal of GMP for
the year 2020-21.
The Committee noted the submissions and recommended
for renewal of Group Medishield Insurance Policywith M/s IffcoTokio General
Insurance Company Limited at their quoted price of Rs.1,11,51,000/- (including
The meeting concluded with vote of thanks to the Chair.
M. Pulla Rao